Storage unit fun

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?

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

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 ?

yes, very much harder!!