Does anyone know anything about these stroage rooms ?????
It sounds good but I can’t think of any con’s & there must be some , any comments would be appreciated.
They are strata titled & individually rented out at Gross return 8.5%
Hi Domo, not every thing in life is a con, we are about to develop strata storage units in Sydney and Gold Coast.
I think they are fantastic for a variety of reasons not including ROI.
Regards Phil [cap]
resiwealth
My concern is that I may think they are a great investment but if most people think they are not , the demand will be low & if I need to sell there may be a problem.
On the other hand you may be on a big winner with your development.
I haven’t done enough research to make a decision either way yet but I am working on it.Domo you can sell anything if the returns are good, also these are attractive because they are more affordable (cheap) so there are more buyers.
As for selling, well that relates to anything including houses in a bad market. I would rather be caught with a $40,000.00 storage unit than a $200,000.00 house in the country in a bad market.
Phil
resiwealth
All very good points.
In your opinion what will influence CG , will it be the demand or would you expect it to be in line with CG in the area ???The returns sound good & as you pointed out the cash required is less than a residential property which will make it easier when starting out your investing journey.
Hi Domo, CG is the big question, in fact i don’t expect there to be much, i really don’t know.
I am guessing that they will grow in popularity like car spaces in the city, just a hunch.
I sold one to a bloke who parks his two rollers in it with a car hoist, another to a bloke who stores his wine, another to an electrician.
I asked them all why??? – they are cheap and we own them, was the most common reply. The point is wether you are purchasing to use your self or rent out they are manageable.
Why have an investment property that isn’t growing in value when you can find another opportunity. I have met so many people who hate the hassels of investment properties, but still love property, these are my target and there are many of them.
The value of commersial property is proportunate to the rental income and demmand. Many people have $50,000.00 in the bank getting 6% return and in their late 50’s, or their super fund is returning 2%. Some people can’t wait 10 years for a property to double in value etc etc and their risk profile is different to yours and mine.
From a developers/marketers (me) point of view this represents a beautiful opportunity. Many of my investors (seed capitol) choose to keep part of the project at completion, which saves marketing costs.
I think of these investments as being better than money in the bank, with the possibality of capitol gain in the future … hope that suits your query. Cash flow and saftey works for older people, read my book.
Phil
resiwealth
You have seen an opportunity & have taken action which I think is the hardest thing to do .
I hope everything goes well with your projects & thanks for your thoughts , you realy helped put some things in prospective.What is the name of your book & what is it about??
I’m building a new web site that will be active next week but in the mean time you can see them on my old site at http://www.assetcorp.com.au under 101 – 151 – 201
Thanks mate … Phil
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