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Subject:  Re: Self Storage as an Investment Date:  5/19/2003  9:19 PM
Author:  desertdaveataol Number:  107979 of 888229


I liked your self storage post so much I forwarded it on to my brother up in Washington State.  He wrote back:

<< Sounds good, but the area around here is saturated with self-storage places (phone book survey, six pages of SS rentals). Almost all had some kind of offer to pick their place instead of someone else's; that tells me the competition is fierce.   Unless I could just buy one, I wouldn't want to build a new one; too expensive. >>

We just got our new phone books today, so I checked the Yellow Pages for our area.  Fourteen (14!) full pages of ads.  Many of them full page ads.  Most of the rest were half and three quarter page ads.  And yes, there are lots of incentives to move in.

Two things I did notice though. 
Several of these places appear from the pictures to be housed in what had once been large retail stores or strip shopping centers.  Not a bad idea if stores are closing left and right in your area.  Make the owner a low ball offer and divvy the place up into storage spots.

Also, one guy has shipping containers, you know the big metal kind you see in the TV news being unloaded from ships onto the docks by huge cranes and behind Wal-mart stores.  Says he'll deliver to your site.  Now if you could just get your hands on some used containers at a good price and a truck to deliver them with you could start up a business without buying much real estate.

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