I just purchased my first rental property and now have the opportunity to invest in self storage. My cash is a little low at the moment from the recent purchase of the property. So i'm looking into private money, or trying to figure out some other creative way to get cash to invest in this new deal. Thanks in advance for the suggestions!
Search the blogs here on BP for one called All Things Self Storage. There's a recent one on funding that might serve as a primer for you.
Tell us about the SS deal. Perhaps a few more details (size, occupancy, current income/expense, stabilized income/expense and projected value, market supply and demand) to help narrow done the funding options.
Im assuming you've already looked into the option of seller financing?
I agree 100% with Michael Wagner - we need a few more details before we can really dig into giving pertinent advice. It's easier to get "creative" with private money but only when you know how many. On the other hand, for a smaller deal, you might have enough equity in your current assets for certain types of more traditional funding.
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