Storage Auctions
The Storage Locker => Storage Auctions "In The News" => Topic started by: MovieMan on March 30, 2013, 10:13:42 PM
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Here's your chance to make a really winning opportunity in the Storage Business !
insideselfstorage.com/news/2013/03/new-zealand-self-storage-facility-on-auction-block-unless-private-buyer-found.aspx
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The auction was March 6th. So all you need to do is come up with a few million, travel back in time and move to New Zealand. Let me know how that works out.
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The auction was March 6th. So all you need to do is come up with a few million, travel back in time and move to New Zealand. Let me know how that works out.
Wouldn't have mattered if it was this coming June. No one here has that kind of money nor a desire to move to New Zealand. I thought it was interesting they were selling the whole place and if I remember correctly, it was the only one in NZ.
If time travel was possible I'm sure a lot of us here would do things differently....wouldn't you? Maybe not.
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Overall, it doesn’t look like a bad business to get into as long as there are some apartment communities in the area. Those with apartment communities near by seem to have the better ROI.
I've looked at the ROI's as well. Also, the asking prices are usually 10 X net. Having a background in real estate appraisal and investing, I can honestly say the ROI not impressive. Safe but not lucrative.
I think virtual real estate can be a great investment. I'm focusing on buying websites that run on auto pilot and generate residual cash flow. Take this forum for example. It will take me less than 3 years to recoup my initial investment and then I'll have a 33% or greater return for the rest of my life.
With a 100K investment in real estate, you would be lucky to net $700 a month. With that same 100K investment in income producing websites you could easily make $3500-4000 a month.
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There is still a storage facility in my area up for sale. No buyers since it would cost almost as much to renovate / update the place as it is to buy it. In fact a new location was built just down from my house for cheaper I think then buying the other location would have been.