{"id":11497,"date":"2023-11-30T18:35:47","date_gmt":"2023-12-01T01:35:47","guid":{"rendered":"https:\/\/blog2.neighbor.com\/storage-blog\/?p=11497"},"modified":"2025-02-04T11:33:29","modified_gmt":"2025-02-04T18:33:29","slug":"how-to-buy-storage-units","status":"publish","type":"post","link":"https:\/\/www.neighbor.com\/storage-blog\/how-to-buy-storage-units\/","title":{"rendered":"How to Buy Storage Units: Everything You Need To Know"},"content":{"rendered":"\n

Are you pondering the possibility of diving into the storage industry? Whether you’re an aspiring business owner<\/strong> eyeing a profitable self-storage investment or just someone who is looking for a way to make some extra money with your existing space<\/strong>, the storage sector offers a substantial range of opportunities.<\/p>\n\n\n\n

The industry is a bustling marketplace of traditional self-storage units and self-storage facilities themselves, large storage units, and even peer-to-peer self-storage marketplaces like Neighbor. <\/p>\n\n\n\n

We’re going to cover everything you need to know about buying storage units, from the business model to what to look for when making a purchase.<\/p>\n\n\n\n

Understanding the Self-Storage Market<\/h2>\n\n\n\n

You will need to spend money to make money in most cases. However, before you jump in and start signing checks and spending money<\/a>,<\/em> it’s crucial to understand the lay of the land in the storage facility industry. <\/p>\n\n\n\n

Knowledge is power<\/strong>, and the more stuff you know, the better equipped you’ll be to make informed decisions.<\/p>\n\n\n\n

The Self-Storage Industry<\/h3>\n\n\n\n

Renters are looking for spaces of all shapes and sizes<\/a> to store their excess stuff. Profitable locations range from traditional self-storage facilities <\/strong>with rows of garage-style doors to modern solutions like residential spaces listed on peer-to-peer storage platforms <\/strong>like Neighbor.<\/a><\/p>\n\n\n\n

Whether it’s a large-scale facility with hundreds of units per large storage unit or a small business owner renting out extra garage space, understanding the nuances of the self-storage industry is your first step to success.<\/p>\n\n\n\n

Business Model and Cash Flow<\/h3>\n\n\n\n

At its core, the self-storage facility business model is remarkably straightforward. It’s all about cash flow. It’s not based on the “luck of the draw”, like acquiring storage units at auction<\/a>. You bring in revenue by renting out storage space (after covering necessary expenditures like property maintenance, utilities, and staff salaries). <\/p>\n\n\n\n

This ongoing cash flow allows your business to grow, making a self-storage facility a generally stable and often lucrative investment.<\/strong> It’s simple, but not easy; making money requires effective management and a good marketing strategy to attract and retain customers.<\/p>\n\n\n\n

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Can we pay you to store vehicles?<\/h2>\r\n <\/header>\r\n
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List your unused space<\/h3>\r\n

People are earning $1,000s per year from their garages and outdoor space.<\/p>\r\n <\/div>\r\n

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Approve your renters<\/h3>\r\n

You're in control. Approve who rents and the hours of access.<\/p>\r\n <\/div>\r\n

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Get paid monthly<\/h3>\r\n

Sit back and collect automatic payments each month.<\/p>\r\n <\/div>\r\n <\/section>\r\n