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I walk all over the area and see garage after garage full of stuff. This way they can slowly go through their things without having to throw them away but also keeping their homes neat during the process.ĮSI comments: This is the case with at least 50% of my neighborhood (or at least I suspect this is the reason).

Sometimes people will temporarily rent a storage unit while they go through their own decluttering process. There must be something in the air at this time of year that makes us want to change as well. Usually this coincides with spring…I guess that’s why they call it spring cleaning. Occasionally my wife gets on a “decluttering” kick. Here’s a breakdown of why consumers are using self storage: 1. That’s why there’s been a big increase in the number of storage units that have been popping up all over the country. With more and more people acquiring the contagious disease “stuffitis,” they’re having to find somewhere to store all of their newfound possessions. Seven Reasons People Are Using Self Storage So what are we doing with all of this stuff? That’s the million dollar question. Sometimes sooner depending on where you live. From Amazon to Wal-Mart to Zappos, we can literally have whatever we want at our doorstep by the next day. Large retailers and online shopping have made buying stuff way too easy. I’m NEVER going to be able to fill it up with stuff”? Have you ever heard someone say, “Man, my house has TOO much room in it. Should you be investing in storage units?īefore you answer, let me ask you a question. As he shares his insights, I’ll chime in from time to time with my thoughts…

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So with that said, let me turn it over to Jeff for his thoughts on how to invest in storage units. Since he’s both a business and real estate guy (in addition to being a doctor), I knew he could tackle the issue of storage unit investing for me.

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That’s where my buddy, Jeff, from Debt Free Doctor, comes in.Īfter our successful collaboration on How to Save Money On Medical Costs, he asked if there was something else we could work on. The only problem is, I don’t know how to invest in storage units. Here’s a sign that I pass every day - located on some prime Colorado Springs land not far from my house: After all, Americans are still piling up their stuff in droves and they need places to put it.Įven on my daily walks I can’t avoid this issue. One business I’ve watched from the sidelines and always been interested in is storage units. I thought about car washes (imagine all that cash!) until a reader emailed me telling of the horrors of owning a car wash. I did have a potential partner in a vending machine business, but in the end he didn’t want a partner. I’ve done some networking and have yet to identify anything I like up to this point. So I’ve thought about buying a business instead. I’ve also thought about doing a 1031 exchange, but I’d need to find a great deal elsewhere before I could do that, and finding a great deal is my biggest issue.

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I have even thought about selling my places now, then sitting on the cash until there’s a dip.īut who knows when the dip will be and if it will be enough to make it worth it? Plus the apartments are churning off cash like crazy - one reason I have an excess now. I’d love to buy some more rental apartments, but both markets I’m interested in (my current home of Colorado Springs and where my current units are in Grand Rapids, MI) are way over-priced.

I have found a use for some of it in private real estate lending, but there’s still plenty left over. I’ve shared on various posts that I have a ton of cash laying around at the present moment.