subject: Why Self Storage Is Recession-proof [print this page] Times are hard, and I mean it literallyTimes are hard, and I mean it literally. We are experiencing an economic recession and the government doesnt seem to know what to do! This time, even the rich are affected as international companies have started closing down branches and downsizing! Not only that, but big firms have also begun to cut down on their losses by laying off people.
Even if youve been with the company for several years, your job isnt safe! One of my friends have even started to experience health problems as his body couldnt anymore handle the stress of having to worry every weekend if hed still have a job the next week! And so, people have been getting a second job as a safety net for when they would lose their second job. Residential real estate has been racking up new recruits as the government has started to encourage selling houses at a loss!
But what residential real estate newbies fail to take into consideration is that there are millions of them out there scrambling for that property thats selling at a very low price! Brokers need to resort to various strategies such as hosting interesting open houses. Whats more, they even need to handle their clients woes of being bankrupt and worry if theyre ever going to be able to make a sale at a time like this! Amidst the tears and the worrying if ever they can get that deal and make a commission, the stress levels pile up! Residential real estate is definitely not the best place to buy investment property!
So, is there a recession-proof industry that you can invest in during this time of economic recession? You bet there isbut its not residential real estate. Rather, its a sector of commercial real estate. But doesnt it take too much money to invest in commercial real estate? Well, not for this one.
Self storage is one surefire way for you to invest in something worthwhilewithout even having to shell out a huge amount of money! How so? Because the market is solid whether or not the economy is good or bad.
Think about this; what do people do when the economy is good and they have more money? They buy a lot of stuff that turns out to be things they dont really need! As these pile up, their house cannot anymore hold the stuff that theyve been buying. So what do they do? They holod garage sales and place those they cant sell into storage OR they simply get a storage unit for the time when they think they would need these things again! Now what do people do when the economy is bad? They downsize! And what happens as people downsize? They move to a smaller place and sell off most of the stuff they can sell. And what about those that have too much sentimental value and those who dont have takers? They go into storage!
So, what does this tell you? Self storage facilities have a high demandit doesnt matter if the economy is good or bad; there will always be a high demand for self storage! This is also why self storage has grown to be a $20 billion industry! And the good news is that the market is still not crowded with investors!
