Financing for self-storage facilities

[Gloria Grotjan]

Interested in investing in self-storage facility seems the bigger banks frown on financing this type of investment. Where can I go to get financing? any suggestions

[Scott Meyers]

Gloria, 

I'm a bit perplexed - Self Storage has the lowest loan default rate for all commercial Asset Classes - It's the Darling of Commercial Real Estate.   Our lenders are begging for more.... 

David Thompson mentioned one source, and we a couple national brokers we use, in addition to  the credit unions and community banks who are always clamoring for more deals. 

I think it's a matter of talking to banks who understand the asset class, but the SBA LOVES Self-Storage, and has a 90% LTV Program custom tailored to it.

If you run into any more roadblocks, PM me.  

Cheers,