Storage unit fun

Financing, Hard Money Lenders, Private Money
1

ever since i realized real estate is where its at i knew that storage units where a great place for easy no hassle income. i found one in my area with a cap rate of 7.8% netting 38k a year which is fine for me while i work/finish school. my problem is getting financing. half a million dollars is pretty hard to come by. any helpful hints or ideas. i have 700+ credit and considering purchasing my first home to turn around and lease option…

what would you suggest?

2

You may be able to get an SBA loan for your first Storage Facility.

Check with local banks to see if they are part of the SBA Program!

I believe B of A is part of this group.

Or go to www.sba.gov

3

i looked into buying one with 90% occupancy i almost rather start from scratch in an up and coming area with three times the volume. is getting a construction loan and stuff harder than buying an exsisting ?

4

yes, very much harder!!