Here's a business concept that's creating a mini-revolution all across the country and giving thousands of people the ability to create their own wealth system right from their living room. The Self Storage business may seem familiar to you, but it's actually re-inventing itself in so many important and exciting ways, and is widely regarded as the most profitable and easily managed real estate investment in the country.
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The Complete Guide to Finding, Evaluating, and Purchasing Self Storage Facilities™ Home Study System
Here's a business concept that's creating a mini-revolution all across the country and giving thousands of people the ability to create their own wealth system right from their living room. The Self Storage business may seem familiar to you, but it's actually re-inventing itself in so many important and exciting ways, and is widely regarded as the most profitable and easily managed real estate investment in the country.
The good news is that Self Storage is a $220 billion+ (market cap value) and $22.6 billion (annual revenues) industry in the United States that comprises 51,223 primary facilities with more than 2.2 billion rentable square feet! And of those 51,223 facilities, roughly 23,000 have been added in the past 7 years, proving that this is a product that is in high demand! In addition, a recent study by the National Self Storage Association showed that only 1 in 10 US Households are now renting 1 or more Self Storage Units, creating a high growth industry with only 10% penetration!
Tell me if any of these benefits apply to you:
The ability to Set Your Own Hours. Turn small amounts of time into sizeable profits. Start part-time, earn while you learn, and ultimately replace and exceed your regular job’s income before you walk away from it. Or, if you like, work part time or make the equivalent of a full-time income from spare-time hours and call yourself retired.
You Operate Using a Proven System, but with no Franchise Fees or Royalties. I lack creativity, and did not want to reinvent the wheel. I wanted a proven step by step system – like a franchise, but without the hefty up front fees and back end royalties.
Low to No Overhead – I wanted the ability to run my business from my home, or my favorite coffee shop, and enjoy the tax benefits of operating a home-based business.
Flexibility – I wanted the ability to go it alone, or bring on partners as the business grew. In addition, I wanted a business that could be duplicated in any area of the country, so I could make money while vacationing in different cities (and make the trip tax-deductible)
Make Instant Profits – The ability to generate cash flow from day one; not in several years after pouring my life savings into it, or borrowing money from my relatives and friends.
Well after talking to and meeting with several older, wiser, (and richer) friends, I found one thing in common: Virtually all of them had made their fortunes in real estate, and the others had a real estate portfolio larger than most so called full time real estate investors.
So I jumped in with both feet by purchasing a Home Study System by one of the top "Guru's" in the country on how to invest in real estate with no money down. And I, unlike so many other people who buy courses and then stick them on the shelf, actually watched those tapes and read the manual. And Guess what........it worked! I bought my first piece of investment real estate, a 3- bedroom 1 bath single family home, for $30,000 with $0 money down!
Then I rehabbed it, rented it, refinanced it, and pulled out enough money to re-invest in 2 more just like it. I repeated this several times over and had made a small fortune in the single family buy it, fix it, rent it, and sell it real estate business. I then took that small fortune and began to invest in several apartment complexes, and office buildings. The cash flow was great, my net worth had skyrocketed, and I was living the dream! (so I thought).
Then came the tragic events of September 11, which as many of you may remember, shook our country to the core. In the recession that followed, our vacancy rate plummeted near our break even point, our insurance rates had soared, and a statewide property tax increase on all our properties a year later delivered the final blow. The promise of a better life and the creation of wealth through residential rental real estate had been jeopardized in just a few short years, and I knew something had to change!
As I pondered my options, I realized that my passion still lied within real estate. The main reason I was in this mess because I was in the business of renting space to PEOPLE. The lost rent from evictions, move-outs in the middle of the night, huge collection expenses, high vacancies in tough economies, plus the cost to repair, re-paint, and re-carpet each of our 400 units when they became vacant was eating away at our monthly cash flow.
Also, being a victim of random increases in property taxes, insurance, and utility costs over the past 5 years brought me to the conclusion that I no longer wanted to be in a position where I was slave to the tax man, the insurance companies, nor the utility monopolies any longer.
"Although I was Making Money with Single-Family Homes and Apartments...I wanted to Make More Money, Faster, without the Hassles of Tenants, Toilets, or Employees!"
So the conclusion was that my dream job was to build a low-risk, high cash flow real estate business without all the hassles of tenants, toilets, or employees! Simple enough, but did such a business really exist? Was it a pipe dream? Or was it the best kept secret in Real Estate Investing?
Added: 22-Nov-2008, Views: |
