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Subject:  Re: Self Storage as an Investment Date:  5/17/2003  12:22 PM
Author:  golfwaymore Number:  107543 of 888229

workwayless says,

Couple of comments/questions

- You could make the location close to your house. This seems like a good idea for any business that ER is considering to participate in hands-on.

- The combination of low land and construction costs made building from scratch an attractive combination. I'm curious. Did you look into any existing for-sale SS to see how they stacked up against building new? If so, do you think this is still a good investment even if you buy an existing business?

That would be a nice set-up workwayless. The storage units are very simple, no doubt they'd be sweet to have across the street, or within walking distance.

I DID look into purchasing existing units, well, there was one that was for sell by a gentleman with health problems. I had the following problems with it:

1. Asking price was outrageous, my quotes were telling me that I could build my own for less than half that price.

2. It was huge, bigger investment and time requirement than what I was interested in.

3. It was in the next town over, 15 miles and lotsa traffic, and as you pointed out, having these things close by is nice.


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