Storage Auctions

Good lenders for purchasing a self storage facility.

Good lenders for purchasing a self storage facility.
« on: December 12, 2013, 01:53:03 PM »
This is random but kind of related. Anyone know of any reputable lenders that deal specifically with loans for self storage facilities. Been thinking for a while about investing in the business. Want to compare different lenders and what they offer. Looking to see what LTV they require, what if any prepayment penalties. How easy they are to work with. etc. Any ideas suggestions are appreciated.

Offline Travis

  • *****
  • 5483
  • Every storage unit he buys yields treasure.
    • View Profile
    • AuctionsTX.com
    • Email
Re: Good leneders for purchasing a self storage facility.
« Reply #1 on: December 12, 2013, 04:53:03 PM »
This is random but kind of related. Anyone know of any reputable lenders that deal specifically with loans for self storage facilities. Been thinking for a while about investing in the business. Want to compare different lenders and what they offer. Looking to see what LTV they require, what if any prepayment penalties. How easy they are to work with. etc. Any ideas suggestions are appreciated.

It's been a while but I recall reading about a lender that only lends on self storage facilities. I would post the same question on the Self Storage Talk forum. You will probably get better answers from facility owners and industry professionals.

Offline Alias300

  • ******
  • 1196
    • View Profile
Re: Good lenders for purchasing a self storage facility.
« Reply #2 on: December 12, 2013, 05:52:50 PM »
I do not.   But I'd also check into the SBA in addition to traditional lending.
sba(dot)gov/content/business-loan-checklist

They aren't as liberal with giving out mony as in the past, especially grants, but still an option.

Might also look at franchise oppurtunities.  See who finances them.

Offline Travis

  • *****
  • 5483
  • Every storage unit he buys yields treasure.
    • View Profile
    • AuctionsTX.com
    • Email
Re: Good lenders for purchasing a self storage facility.
« Reply #3 on: December 12, 2013, 08:01:32 PM »
Yeah, U-Haul franchises are pretty much a guarantee. You can make money off the truck rentals and you'll have a steady flow of traffic from people that are moving and need storage. It's a proven system.


xx
Advanced Storage Lenders

Started by Travis

6 Replies
1872 Views
Last post March 15, 2015, 07:23:33 PM
by Henry
xx
purchasing cover letter example

Started by RidgehagUB

0 Replies
2 Views
Last post February 24, 2021, 07:18:35 AM
by RidgehagUB
xx
An ambulance at a storage auction? The storage facility's worst nightmare

Started by storageauctionsystem

6 Replies
2544 Views
Last post March 29, 2011, 09:10:20 PM
by terry
xx
If you win a storage unit online, you better get to the storage facility fast!

Started by Travis

2 Replies
1804 Views
Last post February 28, 2014, 09:31:35 AM
by truedaystar