Investing in Boat & RV Storage - The Good The Bad The Ugly
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- Опубліковано 12 лип 2024
- Welcome back everybody to the Self Storage Income UA-cam Channel!
Today we're talking about a highly requested topic... Boat and RV storage. And we're going to get into the nitty gritty and go through the good, the bad and the ugly.
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Boat and RV storage is something I get asked about all the time so I'm super excited to jump into this video with you guys and shed some light on this super interesting part of self storage. As you probably know, Boat and RV storage demand has skyrocketed and seems to be one of the highest demand unit types we see in certain markets. For a lot of people just starting out in self storage investing, they think that Boat and RV storage is a simple and easy solution that can help get you into the game without a ton of money up front like a traditional storage facility. This line of thinking makes absolute sense... but are these assumptions correct?
Tune in and find out!
Thanks everybody,
AJ
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I’m 15 my dad just sold me 3 acres of land next to his storage building. I’m thinking of getting some gates around it and putting up some cameras.
3 acres on Long Island would be 6 million dollars
Great video bro! Seriously good analysis of all aspects involved. I am currently purchasing 9.3 acres and plan to develop an rv park on the property. Thanks for posting!
AJ, editing on this is great! Great to see the improvement!
Thanks a bunch! I'll have to let the team know! Appreciate the support!
your timing is outrageous. My partner and i were just talking about this today for our facility. We are just about to get into the underwriting portion of the sale. Very excited!
That's awesome drizzyjank24! Excited to hear that! Keep up the awesome work and I'll keep trying to time these videos just right lol!
AJ is always spot on. Thank you.
Well maybe not always, (especially when it comes to staying on KETO lol) You're welcome Rocky! Thanks a ton for the support!
Great overview of the pros and cons. A lot of good points in this one.
@REtipster, Glad it was helpful!
Great stuff as always! Doesn’t fail!
Hey thanks a ton for the feedback and for hanging out! Always try to get great videos done for you guys.
Great video! Thanks AJ!
Hey my pleasure Armaan! Happy to hear you enjoyed it (sure takes a ton of time to make these videos lol).
Great video. Thinking about this business idea for northern Virginia, Fairfax/Loudon county, two of the wealthiest counties in the country with lots of HOA’s banning Rv/boat/trailer parking. Lots to think about and prices are high. There’s only one such facility here and it’s booked solid with a wait list.
Im looking to start on this and then build self storage on 5+ acres. In Texas. Thank you for the info!!
You bet Andy! Awesome to hear and thanks for the support!
Your new editor is way better! Or if it's the same person/company they upped their game. Either way good job! And as always thanks for the great info.
Thanks! Really enjoyed how this video came out as well!
Thanks for the information!
@derikfrederiksenjr8281 - Glad you found it helpful! What subjects are you interested in for our next video content?
We have our lots packed full with a waiting list. We are looking for another location to build. We get about 60 units per acre with a mix of RV, trailer, vehicle. Thanks for all these videos
Awesome to hear! You bet! Happy to be able to get these videos made and out to you all. It's time consuming, but worth it.
Where is your location and how big is it?
@@benchristian3472 Collin County Texas and the storage area is just about 2 acers.
its the purposeless orange highlighter that really helps it all set it. But real talk, thanks for the info
I just realized I had it upside down too 🫠
Hello, thanks for your video! It was super helpful. My husband and I talk about opening an RV storage lot in Northern Nevada. In the area where we live many people own RVs. I am lost on how to make the jump from thinking about something like this to putting a plan into play. Can you do a video on getting started in an investment like this, including how to obtain a commercial loan? I sure would appreciate it. Keep up the good work. Thank you!
I would suggest that you approach an existing business and propose an expansion but it will take a lot of experience in the field you will be serving to be effective in being a project planner.
Thanks for the info.
Good content. Thanks
You bet Kimetha! Thank YOU for tuning in!
This was very helpful and informational. I am currently planning the opening of a full service facility. How can i find an investor?
Could you make a video about good software to use for running a small self storage business?
I'm definitely going to have to do a video or something on this. This a question that I see a lot for sure. Keep an eye out in the near future lol. Thanks Christian!
AJ, we have a RV & Boat Covered storage facility in WA state. I would really like to chat with you about it, see what you think or ideas on how to increase traffic flow to the facility. It was word of mouth and way under valued for years. New website, Google page and advertising has helped but not as much as I thought it would.
Thanks
How did you get started? Should I try for sba loan?
Miami would be a great market for an outdoor boat yard, if you could find at least two acres to store 150 10x30, I imagine there’s never a low season since everyone has a boat, even if you live in a condo 😂
I sold a boat storage property in Northern AZ not long ago. Fell out of escrow 3 times before it stuck. Shocked I was able to sell it.
Hey @slowemm, Congratulations on selling your boat storage property! It can be frustrating when a property falls out of escrow multiple times, but I'm glad to hear that you were able to make the sale in the end 💪
@Self Storage Income Thank you, it was a challenging sale. Actually, AJ, I think we might have sent that one to you.
Great info.... I'm looking at starting a boat/RV storage site in Florida, lots of decisions to make, this is very helpful.
Too cool Mike! Glad to hear this offered some insight. Thanks for the comment and for the support!
@@SelfStorageIncome of all the costs involved... I am shocked at the cost of paving!
Yeah it's pretty crazy. And things are currently on the rise.
How many RV's could you expect to store on around 7 acres of land?
Which zoning Applies to storage?
Can you do a video about mobile storage containers?
This is a great idea for a number of reasons. Tons of benefits to mobile units and something we've implemented at our facilities. I'll be sure to add this to my list of videos to record. Thanks a ton for the suggestion Kristof!
HOA doesn’t allow those Rv and boats in driveways here year round
Insurance is a huge factor as well.
No two ways about it. Thanks Eric!
How important is location, as in proximity to main roads? In your experience, does being directly on a main road with a lot of traffic, as opposed to just off a main road (within minutes or less) make a huge difference in occupancy? Thanks
Also, what is your process when considering a piece of land? Do you reach out to the town/city to get something in writing saying you can use the land for your intended purpose before you make an offer on the land or move forward with purchase?
Great questions Ryan I’m wondering these same things
Hey Ryan, great question! This is super dynamic and will differ depending on demand. Ideally, get on that main road. Good visibility is huge not only to help drive occupancy, but we're buying real estate after all and good deals on main roads are where its at. People need to be able to see and find your facility easily.
Another great question and this is a huge YES! You need to verify what the zoning is in that area. The city will have all the information you need. If it isn't zoned properly you can go through a re-zoning process, but that isn't a for sure thing, and your zoning change could be denied by the city. I'd say its best to find zoning already in place that allows storage.
Thanks Kimetha! See responses. Hope that helps!
Do you or can recommend someone for consulting for a first time self storage buyer? We are looking for our first facility.
Hey Matt, that's awesome news! None that I can recommend. Keep soaking up all the information you can, talk to owner and operators, go to self storage events in your state and around the country, and ask TONS of questions.
Would 1 acre of land be profitable? The guy next to me has a storage facility already.
can you buy like lets say 5 acres and you are only using 1 to 2 of those acres and decide you want to rent out spaces in your unused acres, let say for 10 RVs, trailers, boats, etc. How do you handle, is it park at you own risk, hold owner harmless, etc. What is the legal side of the whole thing.
Hey Ronnie! Great questions to be asking - however, you need to ask these questions to an attorney. You may be able to find a good attorney in your area that could provide you a consultation and give you a good idea of what you can/can't/should/shouldn't do in regard to this - local regulations/permits/etc may even be required to this as well. That said, I don't assume ownership or liability of any kind of anyone's belongings at any of my storage facilities. Thanks for tuning in!
I wonder what you do if they stop paying. Can't imagine you can auction it off like a storage unit. My guess is it's a lot more complicated
@ttirrell - thanks for the comment! You're right, the specifics of such scenarios can be quite complex. We did a podcast on boat/rv storage that might be helpful for you! podcasts.apple.com/us/podcast/boat-and-rv-storage-critical-considerations-that-can/id1552478638?i=1000525587828
Moreover, to get a more in-depth understanding of how these situations are managed and their broader implications, I recommend checking out our starter pack, where I discuss various financing approaches in more detail: www.selfstorageincome.com/ 💪
Great info… Background music bad.
Stupid question: are camper allow to be stored in a empty lot that you own ? If there no house no structure, completely empty lot ? In California
I would recommend checking with your local city / county / neighborhood restrictions. It will vary depending on where exactly you are located. Some will have restrictions while others don't. However, running an RV park per se is generally not allowed on residential properties.
I just turned 13 and bought 30 acres and had it graded and stoned.......millions my friends.....millions.
This guy managed to talk a whole lot and offer very little.