HooperRV - RV Storage Condos are the greatest. I own two units, one in Colorado, and another in California. Both have exceeded my expectations, both in value and utility. The California location has appreciated about 40% in the last two years, and the Colorado location has gone up about 70%, but I have owned that one for 5 years.
I have recently rented out my California garage, and it only took one day to fine a quality tenant. The rental rate nets me about a 7% return. There is no maintenance. There is nothing in the garage that requires any attention, unlike a residential rental. No carpets, no plumbing, no painting what so ever between tenants. They are pretty much bullet proof.
I have a reservation with this project. I am so impressed with this property, and especially like the fact this is their 2nd project. No newbie builders here. They have it down.
Bob Taylor - I don't know much about this place except what I read on the web. I went by there yesterday, and met up with Ted. He showed me around and explained the various features and amenities.
I will be a buyer on June 1st when the next phase is released.
I think this is a great idea.
Cyber Kahuna -While not finished with construction this is going to be a first class facility. The garages are huge and from what I can tell, rich with features.
There are very few of these in California. With inside storage so hard to find, I think these will be a great investment.
I think this is a great idea.
Dave B -Owning your storage is not lavish. I’m just a regular person with a very regular income. I was paying $65/month to store my RV on a gravel lot. I hate leaving vehicles sitting outside and went through several RV covers trying to keep mine reasonably nice. I too bought a storage unit in California and frankly it wasn’t all that much courtesy of the recession. It has doubled in value.
Bob G -It’s an investment for most of those early buyers. Here in Denver their are many of these available, and I have owned 2, and made $$ on each one. Viewed that way it is free storage for your RV AND a nice tidy profit when you sell.
Tony D-I am one of the original owners of a storage condo project in California. Probably the first one built in California.
To store one RV the cost is $97,500. (13 x 50). In California the same size unit rents for north of $500 per month in this area.
To purchase a garage costs $475 per month. $20k down.
My first garage has doubled in value since I purchased 7 years ago. If I had rented for say $400 per month for 7 years, my cost would be over $33,000. As it stands today , if I sold my garage, I would put about $35,000 in my pocket above and beyond the original purchase cost.
Cathy and Fred- We purchased a unit from Ted Deits 7 years ago. It has gone up in value by 50%. We just bought it to store our 40 ft class A coach and never planned on such a return if we were to sell it.
Our coach is always clean and ready to go. We go and work on it whenever we want. We are only 45 miles from it and don’t have to store it in our yard. It is secure and not in some storage yard exposed to the elements. In California, Palm Springs in particular, storing anything outside will cause damage, be it the sun, excessive heat, wind, or sand!
We are more then happy we made the investment! We would do it all again and have sent many people to see any of the resales.
The concept of Storage Condominiums, or Garage Condominiums is gaining popularity very quickly. While initially, the concept was dismissed as a "passing fancy" by some, the overall majority have now embraced the concept as viable, filling the gap self storage has long ignored - large units.
As an investment, they have proven their worth there too. Units I sold five years ago, at Eucalyptus at Beaumont have appreciated about 50% or more in value. While this type of return is not typical, and we certainly cannot assure you of such great returns, the fact is, it did happen. As a rental, there is none better. High rate of return, solid concrete floors, no repainting of the interior. Steel and concrete makes these units as bullet proof as possible.
MonSTORE Garages in Palm Springs has taken it to the next level. Not only are we providing Garage Condominiums, but we have increased the size of the garages to what almost approaches a warehouse. That is what those with large car collections or large vehicles have been asking for.
If I had a dollar for each time my clients said "I should have bought a bigger garage". I've heard it time and time again. Now is your chance to actually purchase that bigger garage.
Turn the dollars you spend on rentals into an asset class investment.