Do you want to know how to invest in storage facilities to build passive income? It is not as hard as you might think and today we are going to break it down.
Every investor I know is always looking for great ways to build passive income. They want to create a legacy for their retirement, their children, their families, and themselves. Since I love to try out a million ways to thrive with real estate, and I connect with all kinds of lady investors around the country, I definitely do not want to ignore how to invest in storage facilities.
Why to Invest in Storage Facilities to Build Passive Income
I’ve sat down and talked with a few of my lady investor friends to get their perspectives on why to invest in storage facilities. We all have different experiences with different kinds of storage facilities, so I love to pull the insights together to help you see the big picture.
But, does it even make sense to invest in storage facilities? YES!
We all know about shows like Hoarders, but what is it about things that drive us to accumulate more and more? However, this still does not stop the vast majority of us to have a ton of stuff. One of my investor friends told me that a house she bought that had a storage facility on its land has some renters who have had their stuff there for 10-15 years!!! That’s a LONG time for stuff to sit somewhere.
Yet, it is what we do in our country. In fact, this article from Sparefoot gave me some awesome statistics to help see exactly how prevalent this need for storage actually is! Get this: almost 10% of households rent from a storage facility. Y’all that is 1 in 10 houses!!!
Not only that the amount spent on the construction of storage facilities built by companies has gone up more than 850% since 2013!!! That is INSANE y’all!
Let’s just be real. We have a lot of stuff and we need somewhere to put it.
So, it is a great investment opportunity? You’re darn right it is!
Now, what kind of storage is actually helpful for investing? EVERY kind.
I don’t know if you remember my story, but somewhere in my early days of real estate investing I got a hold of a super cheap piece of land that shared a driveway with a trucking company. Long story short, I ended up charging the company owner to use my driveway for his trucks, because he was technically on my land (read more about that story here).
Y’all, this was when I got the bug on the potential to invest in storage facilities! I used that little piece of land to provide opportunities for industrial storage and still to this day make constant monthly income without lifting a finger. It is GOLD!
Now, you need to do your research when it comes to this kind of land purposing since it needs to be zoned industrial, but there is a TON of potential.
Other lady investor friends of mine have focused solely on storage facilities and see incredible returns on their investment super fast! Remember, a lot of homeowners have larger equipment or vehicles that they can’t park on their own property. HOAs and other restrictions in their neighborhood keep them from keeping things like an RV or such right at home. This is where storage facilities expand even more.
You have possibilities for storage units to be used for boxed items or large pieces of furniture, the land on the property to be used for storing larger vehicles, boats, or equipment, and then industrial land for storing more business-level, large equipment.
There are SO many different ways to invest in storage facilities.
While this podcast/video that I did with Rebecca Del Pozo was not exclusively focused on storage facilities, I want to add it in here because I think she nails it! Why do we do this? Why do we keep looking for investment opportunities and dig in when things get tough?
One word: FREEDOM.
Freedom to live, freedom to enjoy, freedom from debt, freedom with time. Our goal is to create REAL freedom, but the only way to do that is to increase passive income and decrease debts. You can do this, I am sure of it. I regularly watch my FDDF ladies blow through limits and expectations, and they are just like you and me!
I personally do not focus on only one type of property for my investment portfolio and highly encourage adding some diversity in yours, too!
Take the time to learn a bit more about investing in storage facilities before diving in, but don’t be afraid of a new adventure.
If I can do this, you can do this. There are definitely plenty of great reasons to give storage facilities a try! But, you have to be brave enough to get out there and do it!