02 Aug Storage unit purchase update!
I posted last year about a storage unit I was looking to purchase within my condo building. I wanted to provide a quick update on what's been happening since alot has changed.
After going back and forth about whether we should, we decided to pull the trigger. We had never heard of unit that size being sold/available, as well as having zero carrying cost. We ended up buying it for 45k. Steep price but we felt it had a ton of potential given our location. We immediately thought to rent out half the unit (200 sq ft) while using the other half for ourselves.
The response was overwhelming. Not only were we getting offers to rent for 700+ a month, but also offers to purchase the unit.
Fast forward and we've agreed to sell the unit less than year after purchasing for 165k. Not only that, but we've somehow stumbled on a another unit, slightly smaller, that we may purchase for the same price per sq ft as our original unit price. Meaning we would essentially double dip.
Thanks to the users who recommended going in on this purchase. Hopefully we can snag a few more!