Here is the first of several self-storage & mobile home park 1st lien lending opportunities. This one is a 38 Unit Self-Storage facility with an additional Triplex which is fully rented. The storage facility has only one vacancy, and is located NW of Minneapolis in Motley, MN. Minnesota is a Deed of Trust State.

The Triplex is bringing in approximately $2,200.00/month and while the storage is currently bringing in $1,500.00, he will increase rents to bring in $2,500/month, still below the competition. Thats $4,700.00 gross cash flow.

It's appraised for $215,000.00, and the purchase price is $210,000.00. We are looking for anywhere between $130,000.00 and up to cover the purchase, and the seller will take a 2nd position carry back loan for the difference. He is a semi-retired travel agent and he just wants to sell it and travel.

Buyer owns a number of other mobile home parks & self-storage facilities and islooking for the private lender to help with this one for a 5 year loan. LTV & rates are negotiable, we just need a commitment by next week if possible.

Interested? Please PM me for more info & the appraisal. Click here to download the cut sheet on this project.