Building Your First Self-Storage Facility: Planning, Timeline, Budget ...
WEBJul 7, 2016 · First-time developers often try to skimp on the planning stage. However, this is a critical step that will allow you to minimize facility maintenance and problems as well as allow for future expansion. Following are important considerations for building your first self-storage project, including feasibility, timeline, budgeting, construction ...
Deciding Whether to Build or Buy a Self-Storage Facility
WEBApr 18, 2016 · Deciding Whether to Build or Buy a Self-Storage Facility. While lending is now available to investors looking to build or buy a self-storage facility, figuring out which is the best option requires careful scrutiny. This article looks at some inherent benefits to both paths and points out potential pitfalls. Steve Hajewski. April 18, 2016.
Calculating Self-Storage Facility Value: A Proven Method for ...
WEBDec 14, 2010 · The process of determining self-storage facility value can be seen as reviewing the past and predicating the future. The first step is to gather and review information. Accurate records are critical. Begin by collecting: trailing 12 months revenue and expenses (categorized by month), the previous years income statement, earlier …
Breaking Into the Self-Storage Biz: My Advice for New Investors
WEBDec 17, 2021 · In contrast, properties owned by the REITs tend to be climate-controlled, multi-story, 300 units or more and professionally managed. These sites are selected through careful market research, often in large towns that allow for economy of scale. The REITs build or buy multi-story because it helps make the numbers work with land costs …
Buying Land for Self-Storage Development
WEBMar 30, 2021 · Marc Goodin is president of Storage Authority LLC, a self-storage franchise, and the owner of three self-storage facilities that he personally designed, built and manages. He’s been helping others in the industry for more than 25 years. To reach him, call 941.254.3055 or email [email protected].
Want to Buy or Build Self-Storage? You First Need a Quality …
WEBAug 25, 2024 · Want to Buy or Build Self-Storage? You First Need a Quality Market Analysis. Self-storage might seem like an easier investment than other commercial properties like office buildings or multi-family, but market analysis is critical, whether you plan to acquire an existing property or develop a ground-up project. The author explains …
Selling Your Self-Storage Property: 7 Steps to Success
WEBOct 22, 2020 · Step 3: Organize Your Business Records. Before you put your facility on the market, you need to get your “house” in order. Gather all your business and real estate tax records. Correct any inaccuracies, and compile a list of …
How to Finance Your Self-Storage Property
WEBFinance Your Project. Now that you understand some of the advantages of owning self-storage, you need to figure out the best way to finance the project. You have two main financing options: short-term/bridge and long-term/permanent: Short term/bridge (3-5 years): This type of financing is ideal when purchasing a facility that has experienced ...
Building Your First Self-Storage Facility: Understanding …
WEBJul 20, 2018 · Self-storage unit mix is normally a product of population density and income levels. For example, areas of higher income will typically demand more security and climate-controlled features; apartment dwellers will want smaller units, say 5-by-10s; and suburban or commercial-oriented markets will call for more large spaces, such as 10-by …
The 7(a) Program - Inside Self-Storage
WEBFeb 16, 2017 · The 7 (a) Program. The SBA 7 (a) loan program is an attractive option for self-storage owners because it allows them to acquire, build and renovate facilities while allowing them to stay independent. Once you’re up and running, you can focus on your operation instead of wondering how you’ll make your next balloon payment.