Know Your Goal
August 9, 2008
If you have considered investing in self storage, it is important to know your goal.
Why?
Because your goal will impact your strategy and level of investment.
- If you are simply looking for a place to park your wealth - self storage can provide you a nice return in a safe, low maintenance vehicle.
- If, on the other hand, you are growing your net worth, then it makes more sense to develop self storage than it would to buy an existing facility.
Here are some other levels of particpation to consider:
- Invest with someone else. If you know someone that is interested in starting a project, you can become a silent partner or investor in their project.
- Develop your own facility.
- Buy an Existing, Stabilized Facility
- Lend money to a self storage developer
Before you can make this decision - - - you need to know your goal!
