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Old 07-01-2018, 03:45 PM   #11
fishingcacher
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I would think if you want to get into the business it would be better to buy an existed business with established income. There are business brokers that sell businesses.
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Old 07-02-2018, 03:12 AM   #12
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I used to think the same way, but id never walk away from a slot machine in Vegas as long as it was paying out. Just my personal opinion on that one ya know.


Respectfully,
Chris
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Old 07-06-2018, 01:37 AM   #13
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I've thought of building out a boat storage business for years, have looked at the numbers and it's a lot of outlay of cash up front but little ROI at the beginning. Long term it's great if you have lots of cash not needing quick returns, build up the business and you can retire young. I envy the boat storage where I keep mine, 1000 unit at an avg cost $80 month brings in $80,000 a month and they're full! There's not much cost in maintenance so it's a great business.
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Old 07-06-2018, 11:42 AM   #14
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A fellow I used to work with bought land and built storage, but he did climate controlled. He was a good investor and didn't brag, and from looking at him you wouldn't guess his value. The amount of rent you can charge and get is much more per square foot than basic boat storage. Yes, the dehumidifiers did add to his cash outlay, but he indicated it was well worth it. Just a thought.
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Old 07-18-2018, 06:37 AM   #15
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Quote:
Originally Posted by Whitebassfisher View Post
A fellow I used to work with bought land and built storage, but he did climate controlled. He was a good investor and didn't brag, and from looking at him you wouldn't guess his value. The amount of rent you can charge and get is much more per square foot than basic boat storage. Yes, the dehumidifiers did add to his cash outlay, but he indicated it was well worth it. Just a thought.
Absolutely agree that more return comes from the mini storage. A lot more work is in involved when running mini storage as well. Very competitive with a ton of in an out business, 1 month here and there. Where as with boat and RV you will have more long term which would allow me to have only my wife assist in running the business while still being able to work. That was my idea anyhow.
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