David Lindahl – Self Storage Investing Riches
Courses Content :
Dear Wary Investor,
I know, I know—all it’s over the papers and the news. The “experts” tell us that real estate is in horrible shape right now and that now is not the time to invest. I have a simple question: If they’re so intelligent, why aren’t they wealthy?
Well, I’m wealthy, and in this letter I’d want to inform you about a really special sort of real estate. This is due to…
…As the economy deteriorates, this type of real estate generates more cash.
What type of real estate am I referring to? It is a self-storage investment. In addition to being an excellent investment in a weak economy, this form of real estate has little competition. That’s because most people don’t get it.
You’ll comprehend the potential at the conclusion of this letter. Better still, your mind will be racing with ideas on ways to increase your revenues right in your own backyard.
Let us begin with you.
If we were out drinking, I’m sure you’d say something like this to me:
“Am I asking for too much, Dave?” At this point, all I want is to augment my income with real estate. My issue is that I work full-time and don’t have much money in the bank. I know I’ll be OK once I close my first sale, but how can I close that first one?”
Is it a reasonable estimate as to what you’re thinking? It is?
Okay, let’s take a closer look at your scenario and divide it into four requirements:
Requirement #1: You must invest in a form of real estate that thrives in a bad economy, which is exactly what we have right now.
Do you want to hear something plain and honest? Here’s the deal: there is no such thing as a flawless real estate investment. That’s an unusual thing to say from a “guru,” because some of them are known to shout at you about how they have the be-all, end-all investment opportunity if you just sign right here on the dotted line….
That’s nonsense, and I won’t insult your intelligence. Real estate may be a terrific investment if the correct type is matched to the right market.
If you’re attempting to develop condominiums in Florida right now, for example, some beautiful men in white coats will come and take you away.
That’s where the unique potential I mentioned before comes in: Self-storage units do very well in weak markets. Why? Here are a few examples:
When the number of foreclosures is significant, many individuals move to modest apartments and keep their belongings in self-storage units.
When a company downsizes, it leases less space and moves its documents and furnishings into self-storage facilities until the economy improves. It’s a lot less expensive than paying for higher-quality space.
Even in good times, tens of millions of Baby Boomers are downsizing. They are downsizing to smaller houses and condominiums when they become empty nesters or just want less room to manage at a reduced cost.
Self storage can also function in strong economies, although it can be more difficult because individuals have more money to spend.
Requirement #2: You want a system that allows you to do your first deal—or any deal—in the shortest amount of time possible.
In other words, it must be workable in bits and pieces rather than large chunks of your time. This is where my self-storage investment technique comes into play.
I don’t know about you, but I can’t tolerate opportunities that need a significant time commitment to get them off the ground. When I was a hungry gardener, I didn’t have much time, and here’s the strange thing: it doesn’t get any better when you get rich.
Even when I became a multi-millionaire, I found myself lacking in time. Because I wanted to conduct more transactions and take more holidays, any investment strategy I devised had to be quick and efficient.
That’s exactly what I’ve done with my self-storage investing technique. You are NOT required to pound the pavement in search of bargains. You don’t go about hammering up “We Buy Houses” signs with a ladder. You DO NOT “dial for bucks” by phoning newspaper advertising.
Instead, you send out my tried-and-true letters until some of them result in interested sellers. (I also have additional effective low-time approaches.) Then you utilize my technique to go through the incoming answers and categorize them as live deals or dead dogs.
Requirement #3: The investment cannot begin with a large bank account. You’d like something that doesn’t take any of your money as a down payment.
“It takes money to make money,” is the worst phrase I’ve ever heard. No, making money requires a tried-and-true system. The good news is that you don’t need to develop that system because it already exists.
My Self Storage Riches strategy includes instructions on how to attract all of the money you need to fund your transactions.
Most late-night “no money down” gurus, you see, will have you barking up the wrong tree. Only the worst deals have “no money down.” The better packages do need a down payment.
But here’s some more good news: it doesn’t have to be your money that’s utilized for the down payment.
Requirement #4: Finally, the transaction should not take up too much of your time to complete.
It’s pointless to get into a bargain if it becomes a time vampire. My assumption is that you have more than enough time vampires in your life.
This is where self-storage bargains truly shine. Because a self-storage facility does not contain individuals, the regulations are far more straightforward than when dealing with renters.
If a storage facility tenant fails to pay, just “overlock” the door with your own padlock. This stops the tenant from accessing his belongings until he pays you.
He’s still not paying? There’s no need to listen to sob stories or deal with evictions because the renter’s belongings are auctioned off quickly.
Consider how little maintenance there is for the vast majority of renters who do pay: no toilets, no kitchens, no electrical service other than simple lights, and no children living there.
You can even monitor your entire property while someone else manages it by using inexpensive “web cams” that connect to a computer via the Internet!
Who Shouldn’t Invest in Self-Storage?
You and I both know that no investment is ideal for everyone. So, who is a good and bad candidate for self-storage investment?
If you prefer the hands-on sweat equity approach of rehabbing a property to increase its value, self storage is not for you. There’s not much to disassemble, and hence not much to repair.
If you want to build a “community” on your property, you might not like self-storage facilities. Self storage is a rather impersonal investment. There are a lot of locked rooms, and you’ll only see a renter drive to one of them on occasion.
Many people, on the other hand, see no reason to get cozy with their investments. They simply want to generate cash flow and profits.
Self-storage facilities are ideal in this regard.