<h2 class = 'uawtitle'>Beyond The Hype - The Truth About Today's Rapid City Self Storage Industry</h2><br />
<div style='font-style:italic;' class='uawbyline'>by Barbara Nelson</div><br /><br />
<div class='uawarticle'>There's a small group of real estate investors making a killing by accommodating the American public with our propensity to store junk. You won't find these folks at your local REIA meetings or seminars. Your most likely chance of meeting them is on the golf course or a cruise ship. They are quietly enjoying their growing cash-flow and building their net worth through the virtually unknown investment arena of <a href="www.depotstoragerapidcity.com">Rapid City Self Storage</a> or mini-storage. What keeps the common real estate investor from joining this exclusive club?<br />
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Elementary economics- Some reports have assumed that the recent rise in mini-storage businesses has outstripped demand, threatening the success of new ventures. In truth, the self-storage industry has grown leaps and bounds since its beginnings in the 1970's but the demand has grown as well. Surprisingly, the increased supply of personal-storage units has managed to stimulate customer interest.<br />
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Myth 1: There is a personal storing facility on every corner. I can't make money with all of that competition. It's true, personal storing is a business that has grown from out-of-sight garages in industrial areas to modern multi-use facilities. A billion dollar industry has sprung up in the past twenty years all geared toward development and building.<br />
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Many of us are fans of things like vintage cars, ski boats etc. If you keep them at home they occupy lot of space. This will create a big problem if you do not have enough room to keep those items. Keeping these items in a personal storing unit will not only free up space but will also protect them from weather conditions. So is the case with items like paintings, collectibles, important documents etc. They will be saved from mold and mildew at storing units.<br />
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Location, Location, Location- Choosing a site is one of the most difficult decisions to make. Usually, an ideal site is one that is located on a major travel corridor and is highly visible. Still, cost is an important factor. If you pay too much for a prime building site, the pay off might eat at profit margins for years to come. It is crucial that this decision be researched thoroughly. Hiring an experienced consultant is advised.<br />
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Myth 2: I either need to build a new facility or buy a newer one to make money. Most people think that personal storage buildings must be cheap to build since they are just metal buildings with doors. Yes, they are cheaper to build than most other commercial buildings, but there is much more to developing and building than meets the eye. In most cases, it's a laborious process that takes months, if not years, to complete. Then all you have is an empty facility with a large debt service. It may take several years to break even and this is definitely not a fast track to success.<br />
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The smart investors are buying existing, older facilities that are poorly operated and need minor repairs. These properties are not on the radar screen of the big companies and can be picked up at great prices. With these facilities, you often start with a positive cash flow and once the repairs have been made and you operate it professionally, the money really starts rolling in.<br />
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Maybe the worst hype about the personal-storing industry is that new personal-storing owners face many trials and tribulations on the road to success. Like any new venture, the personal-storing business does have its challenges, but with a little research and the right space most mini-storing start-ups thrive without tremendous struggles<br />
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<div class='uawlinks'>You can get excellent tips on how to pick a <a href="http://www.depotstoragerapidcity.com">Rapid City self storage</a> company and more information about a reputable company at http://www.depotstoragerapidcity.com now.</div><br />
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