My partner is always looking for homes for sale… He genuinely likes the system of getting rich suddenly with real estate.
He is on the hunt for single family homes, rental properties, duplexes & commercial real estate for sale.
I believe in an ideal world he would purchase a mini storage facility. He wants to be a commercial real estate owner; The benefits of commercial real estate is that he wouldn’t have to deal with a correct occupant. If you owned a storefront & rented that out, a corporation owner is a lot unusual than someone living there full time. They correctly treat the property better, pay on time & are a higher class of people. I believe with mini storage it is beautiful to our partner since there isn’t a lot of upkeep involved. He would not need to hire a property manager, handyman or supplier, then what repairs are needed for a storage facility? As long as water, rodents & roots don’t get in, everything is good. The facility should pay back for itself in a few years, but right now our town has more than one mini storage venues. The 1 is giant & has almost 30 units that are rented out. It is way too big for just our partner at this point. The other 1 only had 10 units & is a bit more manageable. The people are working way too much for their facility but. They want more money than they make with the rentals. That is just ridiculous, and so it doesn’t look good for our partner at this point.