[Svetlana]

I have been tossing this idea around and wondering where do I begin how do I know if it’s for me.

I just came into some money and thinking about using it for investing in real estate.

[Andrea]

If I had the money, I’d invest in storage facilities. But not the regular kind. I’d build like a 20 unit facility with like ‘shops’. Give guys a place to store their cars, boats, Rv, or just use as a mancave. Would be gated.

Each unit would have a restroom, loft area, and have large till down door at each end of unit.

[David]

I bought a 4plex with a friend. We did it out of state. We lucked out getting the property at a great time and the property itself was quite good. We had pretty bad luck with pretty much everyone in the area, though. I don’t know if it’s a symptom of the town or the fact we’re out of towners but it has been surprisingly bad.

The most important thing is the property manager. I would interview people, get recommendations, and check reviews. We had arguably the worst property manager possible and it set us back thousands of dollars.

In our situation, we are lower-income housing so there is a LOT of nonsense. I’d make sure you have a decent reserve if you’re planning on doing this for nonsense. We lost quite a bit the first year and without a reserve I don’t know what would have happened.

Hope that helps. If you have any other questions, let me know.

[Author]

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