Buying a Storage Facility

2021 was a year much like 2020, with the rising real estate prices we had a difficult time finding rental properties for sale that make sense for us to buy. We were able to pick up one rental house back in the spring. Shortly after we bought that one we had lunch with a wholesaler friend of ours. He was telling us how he and his brother had just bought a small self-storage facility. After telling us about how he found and structured the deal, he said they really liked the business model and they were trying to find another, possibly larger one, to purchase. We told him we had also looked into investing in the storage business and would be interested if he found any storage facilities that he wasn’t interested in buying, to let us know. Well probably about two weeks later, he called us and said he had found a small storage facility that might be for sale off-market. We told him we were definitely interested.