Havi Storage Units: I definitely missed this one Lol

[LowRiver2]

My 45’ storage of 4 years got sold to a second owner, an investor who wants to keep me renting.
The unit was for sale when I started at $45k in 16’. I passed thinking I was buying an RV garage home.
Fast forward to this week.
Owner sold unit for $58,500. , forgot to call us and offer it.
I send my agent an email about other 40-45’ units in town:
$73500 was lowest with a 55’ unit at $81k

Had no idea they jumped that much.

 

[franky]

My 45’ storage of 4 years got sold to a second owner, an investor who wants to keep me renting.
The unit was for sale when I started at $45k in 16’. I passed thinking I was buying an RV garage home.
Fast forward to this week.
Owner sold unit for $58,500. , forgot to call us and offer it.
I send my agent an email about other 40-45’ units in town:
$73500 was lowest with a 55’ unit at $81k

Had no idea they jumped that much.

On Nov 3 you will either know for sure you missed out or their will be plenty of deals to be had next year...

 

[SJP]

Aggree. I have a unit by Windsor off of Port St. Hard to give up the storage though.

 

[Singleton]

My 45’ storage of 4 years got sold to a second owner, an investor who wants to keep me renting.
The unit was for sale when I started at $45k in 16’. I passed thinking I was buying an RV garage home.
Fast forward to this week.
Owner sold unit for $58,500. , forgot to call us and offer it.
I send my agent an email about other 40-45’ units in town:
$73500 was lowest with a 55’ unit at $81k

Had no idea they jumped that much.

thanks, was wondering what the value on my 45’ storage condo was. Purchased in 15 and it was best decision I made. Glad to hear the value is up

 

[LowRiver2]

I had a 70’ double door unit at 4 feathers in Big River (CRIT owned ) from 98’ to 2016.
Rent was $220 and never raised. I subbed 1/2 out so was never a big deal.
I remember scoffing at new 40’ units in 02’ for $24k.
lessons learned lol

 

[OldSchoolBoats]

On Nov 3 you will either know for sure you missed out or their will be plenty of deals to be had next year...

Not to go off track here, but supply and demand will not change with who is in office. Election will have little effect, if any, on the current market.

 

[Taboma]

Buying our back to back 35' + 45' in 96' was a great investment.
Used to rent the 45' side but kept collecting toys, so took the dividing wall down. Now it's an 80' with doors on each end and filled nut-to-butt with friggin toys.
We'll probably never sell it, when we've had our fill of the new money wake boarders and wish-they-were-the-f**K- in-the-ocean crowd, we'll rent it whole or toss the wall back up.

 

[Andy B.]

Not to go off track here, but supply and demand will not change with who is in office. Election will have little effect, if any, on the current market.

I disagree if Biden gets in a lot of industry moves out of the country when the douchebag raise the corporate tax rate back up. Would seriously like your thoughts on that Joe, not that it will happen over night but IMO it will. People will loose even more jobs and that stuffs the first to go if people are overextended.
And s lot of people lived that way they they don't learn anything from history.

 

[Kachina26]

My 45’ storage of 4 years got sold to a second owner, an investor who wants to keep me renting.
The unit was for sale when I started at $45k in 16’. I passed thinking I was buying an RV garage home.
Fast forward to this week.
Owner sold unit for $58,500. , forgot to call us and offer it.
I send my agent an email about other 40-45’ units in town:
$73500 was lowest with a 55’ unit at $81k

Had no idea they jumped that much.

The 45 I was in is up for sale at 62k obo.

 

[LowRiver2]

The 45 I was in is up for sale at 62k obo.

If it has electricity and a community bathroom/ shower that is a good deal and should sell in five days or less if it’s on the MLS .

 

[OldSchoolBoats]

I disagree if Biden gets in a lot of industry moves out of the country when the douchebag raise the corporate tax rate back up. Would seriously like your thoughts on that Joe, not that it will happen over night but IMO it will. People will loose even more jobs and that stuffs the first to go if people are overextended.
And s lot of people lived that way they they don't learn anything from history.

Democrats will need to take control of the Senate for him to get anything done, like rolling back the Trump tax plan.

Sent from my SM-N960U using Tapatalk

 

[DLC]

There is a new development on the north end that has double wide 26x50 for a low low price of $140,000....

all the new boats sold and the new boaters are driving up the cost.

my buddy just bought one before Covid and got a 13x45 for $42,000

 

[Kachina26]

If it has electricity and a community bathroom/ shower that is a good deal and should sell in five days or less if it’s on the MLS .

Been up for a month now.

Units For Sale :: Loc 'N' Leave Storage Condos

www.locnleave.com

 

[That Guy]

Democrats will need to take control of the Senate for him to get anything done, like rolling back the Trump tax plan.

Sent from my SM-N960U using Tapatalk

Understood, but his plan will consistently be to raise all taxes (wherever he can find places to screw hard working people) as often as possible. Little bit here, little bit there and people begin to have less disposable income. I understand your point on a larger scale but him getting into office would be disastrous on so many fronts.

 

[just_floatin]

A Real Estate agent informed me last week she thinks she can sell my 40’ for 60k. Showers, electric, surveillance, RV dump, healthy balance sheet and right near Windsor launch ramp. 300 a year in dues. I may list early next year.

 

[franky]

Not to go off track here, but supply and demand will not change with who is in office. Election will have little effect, if any, on the current market.

Completely disagree. In a poor economy (which is what will happen with Bidden) the first things to go are toys. JMO

 

[LowRiver2]

Been up for a month now.

Units For Sale :: Loc 'N' Leave Storage Condos

www.locnleave.com

Ad doesn’t say if bathroom, electricity to units , or shower
Lack of any of those would be most likely why it hasn’t sold
My place also has RV dump and water spigots in front of every four units.

 

[Singleton]

A Real Estate agent informed me last week she thinks she can sell my 40’ for 60k. Showers, electric, surveillance, RV dump, healthy balance sheet and right near Windsor launch ramp. 300 a year in dues. I may list early next year. View attachment 937157 View attachment 937158

Almost purchased in that complex.
ended up at Empire (more space between buildings)

 

[Singleton]

Completely disagree. In a poor economy (which is what will happen with Bidden) the first things to go are toys. JMO

as long as the government stay divided (senate or house and WH) are different parties not much will change.
if the Dems control all 3, look out, we are fucked!

 

[LowRiver2]

A Real Estate agent informed me last week she thinks she can sell my 40’ for 60k. Showers, electric, surveillance, RV dump, healthy balance sheet and right near Windsor launch ramp. 300 a year in dues. I may list early next year. View attachment 937157 View attachment 937158

Good chance it will

One I rent was sold in 2 hours of listing. Owner sold her second one 15 minutes after that
The second buyer at my place has till 11/02 to secure funds.
I’m buying it if it falls through.

 

[Kachina26]

Ad doesn’t say if bathroom, electricity to units , or shower
Lack of any of those would be most likely why it hasn’t sold
My place also has RV dump and water spigots in front of every four units.

It's got all that. I didn't realize how good I had it.

 

[LowRiver2]

It's got all that. I didn't realize how good I had it.

It didn’t come up on the MLS list I got this AM
It will go fast at that price

 

[Groper]

If you own a home in town and with the prices mentioned above it would be better to remodel your current garage at home.

 

[Havasu blue label]

Keep telling yourself election will have no set back look at the stock market it will be hard one to figure out

 

[ONE-A-DAY]

25 by 50 with 50 amp power and 20 foot wide door just set me back 140k

 

[OldSchoolBoats]

Completely disagree. In a poor economy (which is what will happen with Bidden) the first things to go are toys. JMO

Keep telling yourself election will have no set back look at the stock market it will be hard one to figure out

Just going to leave this here and you can't compare 2000 to anything because the dotcom bubble burst in Q4, so the market already had headwinds going into that contested election.

Near zero interest rates and The FED. I wouldn't expect much volatility, nor would I expect any doom and gloom to occur. I know there are a few guys on here that have been predicting the bottom to fall out every year since 2015. I am sure they are chanting, "THIS IS OUR YEAR"...........LOL

 

[LowRiver2]

25 by 50 with 50 amp power and 20 foot wide door just set me back 140k

The owner of my two units sold to buy one of the units at your place.

 

[LowRiver2]

Just going to leave this here and you can't compare 2000 to anything because the dotcom bubble burst in Q4, so the market already had headwinds going into that contested election.

Near zero interest rates and The FED. I wouldn't expect much volatility, nor would I expect any doom and gloom to occur. I know there are a few guys on here that have been predicting the bottom to fall out every year since 2015. I am sure they are chanting, "THIS IS OUR YEAR"...........LOL

View attachment 937167

I think the other “factor” with havasu property prices is the “Ca. Pension exodus” effect:

As Ca gets more ridiculous, People are cashing out and leaving regardless of who wins.

While many are going to Tx. , Carolinas and TN, many realize they have adult kids and grandkids still in Ca.
Havasu is a 4 hour drive vs a cross county flight to see Ca relatives

I have an 80% level of Cops I personally know that are moving to Texas within 24 months of ones to retire
(About 20 Cops)
The Secret is out about Havasu being a good place for Ca. Retirees with pensions and the market may level out, but no way it’s going into a 2010-11’ dive anytime soon.
Different dynamics this time

 

[ONE-A-DAY]

I think the other “factor” with havasu property prices is the “Ca. Pension exodus” effect:

As Ca gets more ridiculous, People are cashing out and leaving regardless of who wins.

While many are going to Tx. , Carolinas and TN, many realize they have adult kids and grandkids still in Ca.
Havasu is a 4 hour drive vs a cross county flight to see Ca relatives

I have an 80% level of Cops I personally k is that are moving to Texas within 24 months
(About 20 Cops)
The Secret is out about Havasu being a good place for Ca. Retirees with pensions and the market may level out, but no way it’s going into a 2010-11’ dive anytime soon.
Different dynamics this time

The other thing is health insurance, Arizona is a disaster, and surprisingly enough California is better off on this topic, so if you move to Havasu you can still access care in California since its not too far away. For us we wont let our California plan go, nothing comparable in Arizona.

 

[LowRiver2]

The other thing is health insurance, Arizona is a disaster, and surprisingly enough California is better off on this topic, so if you move to Havasu you can still access care in California since its not too far away. For us we wont let our California plan go, nothing comparable in Arizona.

100% spot on:
One reason I’ll be an AZ resident the day I retire with a “second home” in Ca.

 

[LargeOrangeFont]

I think the other “factor” with havasu property prices is the “Ca. Pension exodus” effect:

As Ca gets more ridiculous, People are cashing out and leaving regardless of who wins.

While many are going to Tx. , Carolinas and TN, many realize they have adult kids and grandkids still in Ca.
Havasu is a 4 hour drive vs a cross county flight to see Ca relatives

I have an 80% level of Cops I personally know that are moving to Texas within 24 months of ones to retire
(About 20 Cops)
The Secret is out about Havasu being a good place for Ca. Retirees with pensions and the market may level out, but no way it’s going into a 2010-11’ dive anytime soon.
Different dynamics this time

It's not going to drop to 2010-11 levels ever again, essentially for the reasons you are stating. There are too many pensions and retired people in town that have a steady income. The boom of the next generation of retirees and their money will stabilize the town, and the real estate market along with it.

 

[RiverDave]

On Nov 3 you will either know for sure you missed out or their will be plenty of deals to be had next year...

Truth.. which is why I’m not buying one right now. Houses out here it is impossible to predict because if Biden gets in California is going full commie and people might flee here even more driving prices up? Or he ranks us so bad that all the prices drop.

storage units though.. well that could swing wildly

 

[River Runnin]

Drive up -- Drive Through! .... Same thing!

 

[mjc]

A Real Estate agent informed me last week she thinks she can sell my 40’ for 60k. Showers, electric, surveillance, RV dump, healthy balance sheet and right near Windsor launch ramp. 300 a year in dues. I may list early next year. View attachment 937157 View attachment 937158

What space is yours? I am just out the right side of the picture 42.

 

[LargeOrangeFont]

Truth.. which is why I’m not buying one right now. Houses out here it is impossible to predict because if Biden gets in California is going full commie and people might flee here even more driving prices up? Or he ranks us so bad that all the prices drop.

storage units though.. well that could swing wildly

Biden is not going to change much in CA, unless the feds give out amnesty after the election. There is already a democrat supermajority here as of this moment.

 

[LargeOrangeFont]

Completely disagree. In a poor economy (which is what will happen with Bidden) the first things to go are toys. JMO

Biden is not going to crash the economy any more than Trump was going to crash it in '16. Biden will probably slow the growth, but we aren't cratering into a depression because he gets elected.

 

[HB2Havasu]

I think the other “factor” with havasu property prices is the “Ca. Pension exodus” effect:

As Ca gets more ridiculous, People are cashing out and leaving regardless of who wins.

While many are going to Tx. , Carolinas and TN, many realize they have adult kids and grandkids still in Ca.
Havasu is a 4 hour drive vs a cross county flight to see Ca relatives

I have an 80% level of Cops I personally know that are moving to Texas within 24 months of ones to retire
(About 20 Cops)
The Secret is out about Havasu being a good place for Ca. Retirees with pensions and the market may level out, but no way it’s going into a 2010-11’ dive anytime soon.
Different dynamics this time

Bingo. I have a few LEO friends and they have all said if Biden wins they are getting out of California before the Defund the Police Retards get them killed!

 

[LowRiver2]

Biden is not going to crash the economy and more than Trump was going to crash it in '16. Biden will probably slow the growth, but we aren't cratering into a depression because he gets elected.

Agreed
Storage units aren’t a cash cow, nor a loser either

$24k in 02’, $45k in 16’, $58,500 in 20’

Us paycheck guys have to pay cash for them. Pretty sure biz owners can figure out a way to write it off or get some “return” out of it.

I’ve paid $11640 to storage in four years.
Not killing me by any means but with prices RE climbing , it’s not a bad decision for me as I’ve only been without a boat for six months since 1994, lol. If I get at shot at the 45’ unit for $58,500 next week, pulling the trigger for sure.

 

[WhatExit?]

This thread has to be valuable to anyone looking at investing in storage units. Just curious and since I don't know anything about this market... in general, do these numbers show building and operating storage space as a good investment?

 

[mjc]

This thread has to be valuable to anyone looking at investing in storage units. Just curious and since I don't know anything about this market... in general, do these numbers show building and operating storage space as a good investment?

I keep thinking about it but I figure the market would be saturated if I did one. I see so many going and just wonder how long the market will exist for more.

 

[Singleton]

This thread has to be valuable to anyone looking at investing in storage units. Just curious and since I don't know anything about this market... in general, do these numbers show building and operating storage space as a good investment?

building to rent them out makes zero financial sense. The ROI is way too long.
building to sell all units and create HOA to manage shared spaces etc, seems to pencil out.

 

[LowRiver2]

This thread has to be valuable to anyone looking at investing in storage units. Just curious and since I don't know anything about this market... in general, do these numbers show building and operating storage space as a good investment?

I found that many unit owners were family trusts where Parents/grandparents bought these instead of having money sit in a bank, and take the rent as a better return than interest.
Regular real estate will always do better on returns. But way less stress, drama as it’s a storage unit , with a small HOA fee that covers the repairs to the property, units.
The debate is the demand in ten years with the younger generations not being as likely to have motorized toys to store.
The flip side is economic downturns push people onto into wanting storage as they lose homes.
The units around mine were running businesses out of of them when I started in 16’
They are gone now, most likely renting shops with the good economy. Pretty sure they will revert back to storage units if the economy slows.

I other words, I don’t see a dip in demand in the next decadeS.

 

[ONE-A-DAY]

They are tough to get loans on, more like impossible because they are considered commercial properties, most people pay cash or do Helocs to pay for them. If you could get a mortgage for $140,000 to buy the one we got, it would be $550 or so a month. Some of the ones in out complex were bought by investors and are rented, they are getting 700 a month for the 25 by 50's. So you would generate a little bit of cash flow, more than if it was sitting in a bank, but not a whole lot.

For us it would have been about the same cost to add on to our RV garage at home, but the lot set backs wouldnt allow it and honestly I really didnt feel like dealing with any more construction drama in Havasu. The place is 2.5 miles from our house, no stop lights or signals so its easy to get to. I have a culligan DI water system in it so I am saving on having the RV washed with that as well.

 

[1manshow]

25 by 50 with 50 amp power and 20 foot wide door just set me back 140k

Did you happen to buy at Fly-HI on the North end of town?

 

[DLC]

Difficulty on storage loans are dependent on how they are set up, if set up as a commercial condo a loan is fairly easy to get. My buddy just bought a unit, he has a loan on it ( a local Finanical institution to havasu ) said it was easy, 30 year loan 20% down payment is cheap $200 a month for his, way cheaper than a car payment and he will have it paid for in 4 /5 years paying more towards principal each month.

 

[ONE-A-DAY]

Did you happen to buy at Fly-HI on the North end of town?

Yes

 

[SJP]

building to rent them out makes zero financial sense. The ROI is way too long.
building to sell all units and create HOA to manage shared spaces etc, seems to pencil out.

Yep - I know a developer that specializes in storage units. They build them to rent and his cost per all in is 15k (material, grading, land, finish). For what they are selling for in LHC this is why they are building them quick.