I recently found myself considering the possibility of purchasing a piece of commercial property. I had never really thought about doing this before but the opportunity kind of fell into my lap. I think it’s worth considering.

What happened was that a friend of mine owns an Avondale storage facility. He needs to sell it because he is going to be moving away. He doesn’t want to rent it out or have someone else take it over. He’s disappointed that the commercial real estate market is kind of bad right now but decided to sell anyway because he doesn’t want to deal with the hassle of keeping it.

He mentioned this to me in passing and the wheels started turning. I know that it’s been a good business for him. I’d never thought about owning a self storage unit before but this seemed like a good investment. Then I started thinking about it and realized that I wouldn’t want to actually operate the property. I would probably just buy it (since prices are low) and hang on to it for a bit until the market goes up and selling it becomes an option. In the end I decided for various reasons that this wasn’t the right move for me right now but it definitely got me thinking that I should learn more about commercial real estate purchases for the future.

Technorati Tags: Avondale storage, self storage