There is a ton of bad information out there on the self-storage or
“mini-storage” industry. Contrary to what you may read, there is
virtually no money in building new facilities or buying them at a 7% cap
rate. If you really want to make money in self-storage, you have to put
in significantly more work, and follow a different game plan entirely.
Buying an established facility with good occupancy at market rents will
not lead to great riches – only endless concern over making the note
payment. The way to success is much more basic.
