Buying Storage Facilities in Texas—Good Idea or Gravel Pit?

Real Estate Anonymous

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Welcome back to another episode of Real Estate Anonymous! This week, we dive deep into a deal in Midlothian, Texas—an outdoor storage facility with some interesting challenges and opportunities. Join Elliott, Brett, Eric, and our guest Adam Deermount as we explore whether this gravel-lot investment is worth the price.
🔑 Key Highlights:
- The Property: A 28-acre RV and boat storage facility south of Dallas, featuring a mix of open and covered parking. The catch? It’s sitting at 75% occupancy with questionable marketing and infrastructure.
- Location Analysis: Situated between Dallas and Fort Worth, Midlothian is experiencing population growth, but with plenty of land available, competition is a concern.
- Creative Solutions: From potential value-add strategies like expanding the site to unique pitches involving...alligators (yes, really), we explore ways to turn this property into a winner.
- Debt and Value: The team debates the merits of assuming long-term debt versus buying at a lower basis. Does this deal pencil out?
- Expert Insights: Adam shares his perspective as a portfolio manager and real estate professor, offering a fresh take on this deal's viability.
🤔 Decision Time:
Will the team bite on this property, or is it a pass? Watch to find out if the combination of gravel lots, large drive aisles, and underwhelming marketing can be turned into a lucrative investment—or if it's better left alone.

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