Storage Condo, any experience with?

[Duckwheat]

A friend of mine her in Boise has built a group of storage units(100). He sold out the first development and is getting ready to develop a second.

They are heated, with power and water available through out the facility for washing off cars, boat, etc. When I sail away in about 5 years a lot of stuff is going to go down the road, but there are things I will need to store.

I was thinking about buying one of the smaller units. 24x26 about $39,000. Most of them are for the mega RV's, 48' to 50' deep.

I am curious if you guys have had any expereinces good or bad with these.

Thanks in advance,


DW

[fish_on]

I would jump on the concept.

[drhall99]

The biggest issue I can see are going to be the hidden costs - association dues, maintenance fees, management fees, insurance, etc.. but the concept is unique. I like it.

[fish_on]

someone should do this out in St. Helens I'll buy one.

[Duckwheat]

I wanted to bump this back up to see if anyone else had an opinion. The Association Fees for the unit I am looking at is $30 monthly. They have built one and sold it out. The owners are in good shape and have not had to bump the association fees 3 years out. Maintenance free exteriors, little land scape and cleanup.

DW

[Duckwheat]

Oregon guys. You have storage condos in Fairview Oregon. Has anyone bought one?

Looks like it is just east of PDX

[Herring Problem]

There is a storage place off of OB Rileyin Bend selling units staring at $39,000.

Renting will be cheaper in the long run for some.

There is the chance with the economic situation as it is, a person may not be able to sell for a profit and may if fact loose money.

Things to consider:

$39.000 for a unit, do you own the land?--

How long will you use the unit?

Would renting be cheaper in the long haul.

Can you work in the unit as you can in your own shop on your property?

Most of these place have a clause that you can not do any maintenace work on a vehicle,boat,etc. Check the agreement.

Fees -- How much and at what rate do they go up?

Insurance-

Access to the unit-times and days.

Weather condition may affect your access. Who is responsible to clear snow and ice in front of your unit.

Does the unit have a separate electric meter for you to pay the electric bill?

When you think about selling the unit, what are the hidden fees to the original owner?

Ok I'll stop.

[Chromaflage]

A guy could build a heck of a pole building for $39k.

[fish_on]

Originally Posted by Chromaflage

A guy could build a heck of a pole building for $39k.

If you had the ground to build on. I would do it, if I didn't need it I could always rent it out.