I've owned retail businesses for a little over 20 years. The last three in particular have been very good to us. I was happy (and a bit lazy) when MMAs were in the upper 4% range as a stop gap until we figured out what moves to actually make. I'm thinking about buying my first storage unit business but worried I am late to the game. Some things options look good on paper but after I got a couple books on from 5+ years ago it makes me worry savvy investors have already scooped up any real deals. That being said I don't really need a home run. I just want a safe investment that diversifies me a bit in case retail takes a big hit.
This is why I think it makes sense:
* There are a few mom and pops available in our area.
* I'm in a rapidly growing city.
* I have turned over around 10 older buildings for retail spaces and turned them into best in class operations with tight operations and good systems.
* My aunt and uncle built one from the ground up, ran it for 20 years and sold it so I have a good resource. Yes her way of doing things is likely outdated but, as with retail, I am sure there are some things lost to technology that might actually give me an edge.
* And just to restate, I don't need it to be a home run. I don't need the cashflow immediately either so I can afford to get the operation stabilized without needing to rake any profits for the foreseeable future.
I'd love to know anyone's thoughts, especially if you are in this space or especially if you've considered and decided against it.