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Updated over 10 years ago on . Most recent reply

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Kim Uhland
  • Alexandria, VA
0
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8
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Self Storage Acquisition

Kim Uhland
  • Alexandria, VA
Posted

Hello BP,

My background is in self storage (operations, development, acquisitions) but it’s been a while since I’ve been on the acquisitions side of things. My experience is at the corporate level so I’m hoping that you all can give me an idea of what a typical deal would look if I were to acquire something personally.

  • LOI vs. Contract-ten years ago LOI's were prominent, is this still the case or are most buyers skipping straight to contract
  • Financing structure-LTV, seller carry back (if any), rates
  • Are most deals funded using conventional or SBA financing?
  • Lending used to be so tight that you almost had to secure financing before isolating a property. Is this still the case or will I have a wide variety of options once I have a facility tied up?
  • Will lenders consider funding a deal that is in a different state from my base of operations?
  • I’m comfortable running the numbers, is it worthwhile to have a broker represent my side of the deal?

Any input is much appreciated.

Kim

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