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Subject:  Re: Self Storage as an Investment Date:  5/16/2003  6:37 PM
Author:  readyteddy Number:  107465 of 888207

Way back in the 1970's, I used to do some work with tax sheltered limited partnerships. I remember a meeting I went to with a bunch of investment bankers from Lehman Brothers or Morgan Stanley.. on of the big "white shoes" firms. On a personal level, these guys' idea of "self storage" was taking the yacht out of the water for the winter.

Anyway, they had been presented with this idea for a LP deal with fabulous internal ROR ...only you had to put aside any snobbish biases you might have (of which I had none anyway).

I was a self storage deal! The returns on the mini warehouses was so good they could afford to do it on expensive suburban land in the path of growth! The warehouse carried the land, which was later to be sold to developers.

May not be the case anymore, but I could see from the numbers back then it was a good little business to be in.
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