RV Storage Condos - 7 Years later

[2bzy2c]

As many of you may know, I built one of the first RV storage condominium projects in California. I started the project in 2009 and built 107 garage condos.

I mentioned my project in here a few times, and some of you were really excited about this fairly new concept, while some of you were downright rude, saying it was a ridiculous idea. But that is the nature of forums, you get both sides, no holds barred.

Here we are 7+ years later, and I wanted to post an update on what happened.

First off, we completed the project the weekend the Dow hit 6500. The very bottom of the now famous "recession". For a while, I could have plated these things in gold, and not been able to give them away. Everyone, I mean everyone was headed for the hills. Real Estate, no matter what type, was a dirty word at that time.

Given a few months, the clients started to come back, and sales started off slowly. Then after about a year, sales really ramped up.

Fast forward to today, the project has been sold out for a long time now. The best part, in this robust economy, these units have just about doubled in value. Not just in my project, but it seems to be across the board in all areas of the US. It seems Storage Condominiums have found their place, even with the rocky start for many. We are maintaining a waiting list for certain size units to become available via the resale market. That list is over 100 people long. When resales do come up, they are selling within days, with the only exception being odd sized, smaller units.

Those that did buy, are glad they did.

Today, storage condos are popping up everywhere. Seems like every week someone is breaking ground on a new project. The prices for these run from $100 a sq ft to well over $350 per sq ft, depending on the region. Areas with lots of open land don't really need these, but areas close to cities, where open land is scarce and expensive, storage condos seem to do really well.

I am proud to have been one of the early developer of this concept. I hope it continues to flourish.

[Two_Jayhawks]

We have them in our area as well & they are awesome & doing very well. Garage Condo's Link. I think the idea was a fantastic idea & I'm glad you followed up with such a positive post!

[zb39]

Awesome!!

[2bzy2c]

Thank you . It was a struggle in the very beginning, but we made it through it. The other one is just about completed, nearly sold out, with Las Vegas next. It's going to be a busy time. Hope to see you soon.

[Mr_Mark1]

Ted, I met you early on in your project in Beaumont. I know that times were rough in the beginning but you pulled it off and I congratulate on your success and the success of you helping with the 'other' new project going on now!

I'm on your email list and get updates.

Safe travels,
MM.

[2bzy2c]

[2bzy2c]

ArchHoagland wrote:
Groover said:

"Congratulations on your success! I don't get a complete picture in my mind of what a storage condo is. Is it just a storage yard for RV's or is there more to it? Could you post some pictures? "

I'd like to see a picture too. Always thought an RV storage area would be a good investment.

Link to Pictures
Construction video - Palm Springs

[T18skyguy]

A really great success story. So happy for you. I have been considering a project along similar lines. A condominium/penthouse that each have their own dedicated shop out back. I mean large enough for not only the rig, but also fits boats, woodworking, extra cars, you name it. And no grass to cut. That would be ideal for me, how bout you?

[ArchHoagland]

Groover said:

"Congratulations on your success! I don't get a complete picture in my mind of what a storage condo is. Is it just a storage yard for RV's or is there more to it? Could you post some pictures? "

I'd like to see a picture too. Always thought an RV storage area would be a good investment.

[1968mooney]

How many homeless can you put in a $350 per sg. ft. condo ?

[2bzy2c]

Groover wrote:

2bzy2c wrote:
As many of you may know, I built one of the first RV storage condominium projects in California. I started the project in 2009 and built 107 garage condos.

I mentioned my project in here a few times, and some of you were really excited about this fairly new concept, while some of you were downright rude, saying it was a ridiculous idea. But that is the nature of forums, you get both sides, no holds barred.

Here we are 7+ years later, and I wanted to post an update on what happened.

First off, we completed the project the weekend the Dow hit 6500. The very bottom of the now famous "recession". For a while, I could have plated these things in gold, and not been able to give them away. Everyone, I mean everyone was headed for the hills. Real Estate, no matter what type, was a dirty word at that time.

Given a few months, the clients started to come back, and sales started off slowly. Then after about a year, sales really ramped up.

Fast forward to today, the project has been sold out for a long time now. The best part, in this robust economy, these units have just about doubled in value. Not just in my project, but it seems to be across the board in all areas of the US. It seems Storage Condominiums have found their place, even with the rocky start for many. We are maintaining a waiting list for certain size units to become available via the resale market. That list is over 100 people long. When resales do come up, they are selling within days, with the only exception being odd sized, smaller units.

Those that did buy, are glad they did.

Today, storage condos are popping up everywhere. Seems like every week someone is breaking ground on a new project. The prices for these run from $100 a sq ft to well over $350 per sq ft, depending on the region. Areas with lots of open land don't really need these, but areas close to cities, where open land is scarce and expensive, storage condos seem to do really well.

I am proud to have been one of the early developer of this concept. I hope it continues to flourish.

Congratulations on your success! I don't get a complete picture in my mind of what a storage condo is. Is it just a storage yard for RV's or is there more to it? Could you post some pictures?

Beaumont CA
Palm Springs

[rgatijnet1]

From the recent news....maybe California needs these Condos for housing for the homeless that seem to be taking over the major cities.

[Groover]

2bzy2c wrote:
As many of you may know, I built one of the first RV storage condominium projects in California. I started the project in 2009 and built 107 garage condos.

I mentioned my project in here a few times, and some of you were really excited about this fairly new concept, while some of you were downright rude, saying it was a ridiculous idea. But that is the nature of forums, you get both sides, no holds barred.

Here we are 7+ years later, and I wanted to post an update on what happened.

First off, we completed the project the weekend the Dow hit 6500. The very bottom of the now famous "recession". For a while, I could have plated these things in gold, and not been able to give them away. Everyone, I mean everyone was headed for the hills. Real Estate, no matter what type, was a dirty word at that time.

Given a few months, the clients started to come back, and sales started off slowly. Then after about a year, sales really ramped up.

Fast forward to today, the project has been sold out for a long time now. The best part, in this robust economy, these units have just about doubled in value. Not just in my project, but it seems to be across the board in all areas of the US. It seems Storage Condominiums have found their place, even with the rocky start for many. We are maintaining a waiting list for certain size units to become available via the resale market. That list is over 100 people long. When resales do come up, they are selling within days, with the only exception being odd sized, smaller units.

Those that did buy, are glad they did.

Today, storage condos are popping up everywhere. Seems like every week someone is breaking ground on a new project. The prices for these run from $100 a sq ft to well over $350 per sq ft, depending on the region. Areas with lots of open land don't really need these, but areas close to cities, where open land is scarce and expensive, storage condos seem to do really well.

I am proud to have been one of the early developer of this concept. I hope it continues to flourish.

Congratulations on your success! I don't get a complete picture in my mind of what a storage condo is. Is it just a storage yard for RV's or is there more to it? Could you post some pictures?