Looking for the Right Markets to Buy Your First Deal? This report will help.
Hello Acers, As you build towards your first self-storage investment, you’re stepping into a market with some exciting opportunities. I’ve been diving into the latest Storable Self-Storage Outlook Guide, and I want to share some nuggets that could help you focus your efforts on the right deal in the right market. TLDR; Here are some insights: ~ Relocation Trends Are Your Compass: Right now, 37% of Americans are planning or considering a move in the next 6–12 months, and 40% of movers are heading to the South (think Texas, Florida, North Carolina, Georgia). These states offer lower costs of living and job market growth, making them hotspots for relocation—and for storage demand. ~ Understand Your Audience: The 25–44 age group is the most likely to move and use storage. This demographic is typically drawn to areas with strong economic opportunities and affordable housing. If you're evaluating potential markets, consider targeting regions with growing populations in this age range. ~ Short-Term Storage Demand Is Booming: Around 73% of self-storage users need units for 6 months or less, largely driven by relocations. As a first-time investor, consider properties in markets with high population mobility, and ensure your facility offers flexible rental terms to meet this demand. ~ Price Sensitivity and Value: Price remains the #1 factor for customers selecting a storage facility, with location and security following close behind. This means that investing in a well-located property near residential areas or highways and maintaining competitive pricing can significantly boost your chances of success. ~ The South = Growth Potential: With the South dominating relocation preferences, this region offers an excellent starting point for finding your first deal. Look for opportunities in suburban markets near growing cities, where demand for storage is expected to spike. These trends are a perfect storm for new investors, helping you zero in on high-demand areas and set your strategy for success. Take a few minutes to check out the full report (attached) to dig deeper into these insights and see where the opportunities are growing.