Financing for a Self Storage Facility

[Jacob V.]

Hi Guys,

I'm under contract on a 133 unit self storage facility in Odessa, TX at a purchase price of $615k.  Due to timeline we won't be able to use an SBA loan, and it's a turnaround (40% occupied with no marketing, no online presence, no automation).  After close we're investing in a new automatic gate, management software, and automated unit entry systems to start.

I have a family friend we're working with for private-money type financing, but does anyone else have another solid financing partner for this type of project? Thanks in advance.

[Henry Clark]

@Jacob V.

Ask for an interest only Construction loan.  To be converted to an SBA loan.

Doniel Brisby

832 620 6366

dbrisby@mwregionalbank