by Marc Goodin
Most people have it all wrong!! We all know without a doubt the best time to invest in the stock market is when the market is down. Unfortunately, more individuals invest when the market is on a high roll. The average person present holds onto a stock for 6 months on average - another losing strategy.
Even if you do it right and buy and hold good stocks for the long term your return is often 10% at best. If you are rich and trying to preserve money with super safe investments often a 5 - 10 % return is a great return. If your goal is to make and grow money with returns of 10% - 20% - 30% return range you are going to have to do more than park your money in an investment. You will need to give your investment a boost by adding value to your investment and building a business you own.
The news is just starting to catch up to the current self storage trends. Facility prices are down from the all-time highs of the last couple of pandemic years when self storage occupancy and rental rates skyrocketed. Rental rates of the large REITs are down (your rental rates do not have to be down) Fewer people are buying and building self storage preferring to wait for when self storage is to peak again before they get in. BIG HUGE MISTAKE.
Since fewer people are building now there is going the unmet demand is going to increase. This meant people who are building today will have a first comers advantage to the new "market high" after interest rates come down. Now you can buy the best piece of property in town and for less. Two to three years from now land is going to skyrocket when the interest rates come down.
I really have to laugh when someone tells me they are going to wait for the interest rates to come down. If someone did not get into self storage when the rates were incredibly low for over10 years I doubt they will get on board in when rates are low again in the future. There will always be a good reason not to start a business. If you are not truly and entrepreneur at heart and willing to do the work building and owning a business may not be for you.
Now is one of the best times ever to build a new self storage. Land prices are down and construction costs are down. It is easy to find designers and contractors as they are starting to look for work.
Do you want to have a 15-minute call to learn how Storage Authority helps improve the systems, sales, marketing, and profits at your existing facility? If you are building from the ground up let's also review how we help you find land and get your facility designed, approved, and built.
Please send me an email or call me – no appointment is needed:
marc@StorageAuthorityFranchise.com or 860-830-6764
Get more information on Storage Authority Franchise at www.storageauthorityfranchise.com/opportunity3
Marc Goodin is the President of Storage Authority Franchising. www.StorageAuthorityFranchise.com He owns 3 self-storages he designed, built, and manages. He has been helping others in the self-storage industry for over 30 years. He can be reached at marc@StorageAuthority.com or directly at 860-830-6764 to answer your franchising, development, marketing, sales, and operations questions. His best-selling self-storage books are available on Amazon.
If you have and land and were thinking of getting into self storage and need a input I am happy to take a look at it for you. And if you decide you would rather sale we may have a franchise owner ready to buy.