Storage Unit Facility Investing
A buddy of mine and I are thinking of going into the storage unit facility business. We are looking to purchase acreage in a town and construct a storage unit facility. We have done a feasibility study and the study indicated favorable prospects for the project. Occupancy levels of storage unit facilities in the town are very high so barriers to entry should be low. So where should we start from here? The demand is there. Where do we go? I've felt like the thing that could kill us is building something that is too costly. So, members on here that own storage unit complexes, what are the biggest challenges that we face?
Is there a spreadsheet to analyze this sort of deal that you could show me? What questions do I need to answer before we go to the lender? We are definitely looking to leverage this transaction. Any other questions?