The legendary Gary Halbert used to refer to money as “fungolas.” It’s such a great word, isn’t it?
I have decided that this is now my new favorite word, and I’m probably going to drive my family nuts using it! NO FUNGOLAS FOR YOU. (Hat tip to Cashflownaire Member – Matt Vestrand – for the reminder of this word)!
Back to the point of this little diddy…
You’ve probably seen the TV show “Storage Wars” on A&E. Apparently, it’s one of the longest running shows on the network. The show follows a group of investors who buy the contents of self-storage lockers at auction. It’s an interesting show because you never know what will actually be inside each storage unit.
One of the guys on the show made 300,000 fungolas on paintings he found in a storage locker he purchased. It’s a big score, but he’s not the one making the most fungolas from these storage units. In fact, he’s only scratching the surface of what the owner of the self-storage facility makes.
Based on some number crunching, I’ve estimated that larger self-storage facilities generate 600,000 fungolas annually. A one-time profit of 300k is nice. An annual rental income of 600k is a tad better.
As with most things, the average person watching the show doesn’t “see’ this. They watch the show and want to copy what they see, so they go bid on the contents of self-storage units. In most cases, this is a waste of time. Even worse, they aren’t creating monthly cashflow. Buying something and reselling it is a JOB. It’s not an investment.
Why am I yapping about all of this you might wonder?
Because I’ve spent the last month studying self-storage investment properties and have detailed everything I learned in a new 15-page special bonus report I’ll be including with my October Cashflownaire Newsletter. I’ll be releasing this bonus report, and all of the other goodies for October, next week.
If you become a Cashflownaire member now, you’ll immediately get the September newsletter, bonus reports and other goodies. This includes the system I created to improve my self-control. Want to improve every area of your life? Start with your self-control. It’s the key that will help you get everything you want in life. Really.
Plus, you’ll get the October Newsletter next week when it’s released. It’s a pretty good deal, if you ask me.