Monday, March 19, 2007

Another Take On Adding Value

I've been writing lately about adding value with investment properties. This means finding a way to add income beyond rents from residents or office tenants. So it was with some chuckling on my part when I found the following site, The idea is that if you have a spare room -- or a parking space -- that you don't use, use the web system to find a "renter" for your extra space. Essentially you become a private storage unit for people who are willing to pay for space to store their junk, precious possessions, whatever!

It could work with a spare room at an office, or extra area in an apartment building. Still, you could utilize that space and turn it into a rentable storage unit for your tenants or residents. Whether you consider the acquisition of existing storage unit businesses (like in my preceding post), or this new concept of using the 'Net to seek or advertise space, the phenomenon of people paying someone else to store "stuff" is not going away any time soon.

So if you're a real estate investor, you should always be thinking "value-added." I do!

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