Grandma’s china. Grandpa’s gun collection. Uncle Gary’s collection of rusty nails in coffee tins. Every American wants to have something to pass down to future generations. Will what they are leaving behind be something that is treasured? Or something that is just tossed aside? Let me tell you why a self storage facility makes a great legacy.
Generational quality assets
Something that is a great asset is one that will be continually successful. Ownership of a self storage facility pretty much fits that description to a “t”. The model behind the business is low-tech, there is very little chance the business can be replaced by technology, and it has proven itself needed during good times and bad during the Great Recession. Self storage has low capital needs and is well positioned for the future, making it stand the test of time!
Financial security despite what happens in the U.S.
For the past decade, the economy in the U.S has been in a constant decline. By passing down the self storage facility, you are giving your future generations something to depend on, even when the general economy isn’t that hot. Self storage is a winner in both good times, and bad.
An inheritance that maximizes income and stability
The benefit of leaving behind an income property is exactly that: it provides income. If you leave behind land, they will have to either sell or develop it in order to make anything from it. The income from self storage is renewable! You can spend it and more comes the very next month. That is a dependable cash flow!
Self storage is, without a doubt, a terrific asset to have for future generations to come. It has a proven track record of stability during good times and bad. It also provides a safety net of constant income flow for those you leave it to.