If you are looking for a good investment, you should consider getting into the self-storage sector. This is a profitable industry that is among the best investments for amateur and seasoned investors.
So why should you invest in the self-storage sector? What are the benefits of this sector and what are the trends we can see within the industry?
We’ve been involved with self-storage investing for years and still find that it’s one of the great investment ideas that has stood the test of time. Here’s why you need to invest in this profitable sector.
1. It’s a Diversification for Real Estate
We all know the basic criteria for the best investments.
First, we must find a stable asset class that has stood the test of time. Second, we need to diversify our portfolio and within each asset class. Real estate is an asset class that has always been a great investment option.
It’s an asset class that many investors wish to jump into. While this is a trusted asset class, the past year’s events showed us the vulnerability of real estate. This brings us to the second criteria.
With the events of 2020, we saw that traditional real estate can get hurt. But while not everyone is looking for a permanent or temporary lodge, there is always room for storing household goods. Whether for families or businesses, self-storage units are always in demand.
2. You Can Run It Yourself
Many investors like to invest in assets that are tangible. While stocks and other digital assets have their place, it’s great to own something that you can manage. Self-storage units are a physical asset that is easy to manage.
You don’t need to start with a large storage unit if it’s not feasible. A small 10 sq ft unit will still attract customers. Storage units don’t require a lot of maintenance. At best, you can install CCTV cameras and hire private security for the storage units.
You also don’t always have to buy storage units. If you have extra space in your home, investment property, or your land then this can also serve as a storage unit.
One of the reasons why self-storage units are a good investment is because of the low barrier-to-entry. The low maintenance costs and expenses ensure that you can get a higher return-on-investment.
3. A Wide Market
As we hinted earlier, there’s a wide market that needs self-storage units. Families with many household goods are on the lookout for storage spaces. Businesses will need storage space to keep extra office equipment.
Students who are in-between semesters could use storage spaces. You can even attract “preppers” who want to hide their essentials in their storage units!
You can attract a wide customer base with storage space. As a result, you won’t have to worry about acquiring customers. Storage spaces will always be in demand.
Enter This Profitable Sector Today
Now that you know the benefits of the profitable self-storage sector, you should start investing today. These three reasons show why this is a great investment and why you can expect great returns.
We’d like to help you get started with investing in self-storage units. Get started with The Self-Storage Academy to learn the basics of investing in this sector!