Yes, the overall economy is bad; and although it might appear off, you need to take benefit of this time to buy an investment property for your retirement. True, many residential properties are selling baffled, however the chances that you’d be able to get an extremely good deal are really slim with the hundreds of thousands of real estate brokers out there! One more thing is that it is hard to obtain a mortgage for home properties.
What’s the best place to buy investment property? It’s still in real property, of course! Oddly enough, it’s something that a lot of find unattainable and difficult-but the thing is it’s really not! So what is it really? It’s commercial real estate! Hold on, before you stop reading this article by convinced that you can’t afford to buy commercial investments, listen to me out, and read on. You may just discover a way out of your financial troubles!
Okay, do you know that there surely is a sector in commercial real property that’s recession-proof which you can invest in it with no money down? And no, this isn’t an advertising campaign for a product you do not have any use for; this is dependant on hard figures and facts!
I know you’ll be surprised, but that it is self-storage space investment that I’m discussing here. It’s recession-proof. If the economy is good or bad, the demand for self-storage continues to skyrocket. Since when the economy is good, what do people do? They buy more stuff than their place can accommodate! And when the economy is bad, people tend to downsize and proceed to a smaller place. So what happens to all or any of their stuff? Those that won’t selling and those that they can’t bear to market go to storage, naturally! It gets the lowest mortgage failure rate.
- Analyze the tools available in the market
- Before investing, learn enough so you are not heading to make any mistakes
- Collaborative and good team player with excellent communication skills
- Non-plan Expenditure
At only 8%, compared to office structures with 63%, apartment complexes with 58% and shops with 53%, you’ll definitely have less chances of failing. This is also why banks love self-storage space and why you have a better chance of getting the loan approved! It offers low development and operating costs. Compare the development costs of office buildings, apartment complexes, and shops to self-storage facilities.
It’s obvious isn’t it? With the other buildings, you need to fix a great deal and install many accessories, but with storage space facilities, you only need steel wall space, roofs, and doorways and you’re all set! These three reasons only show how self-storage investment has an extremely low risk. Added to this is actually the fact that because the taxes, insurance, and utilities of self-storage are lower than any property class, it isn’t subject to large increases. This means that you won’t have to worry about the government increasing your payables when you can’t even increase your rent!