Updated over 5 years ago on . Most recent reply
- Real Estate Broker
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First Self Storage Investment Partnered w/ an Expert
Investment Info:
Other other investment in Webb City.
Purchase price: $1,370,000
Cash invested: $250,000
Partnered with a good friend on my first foray into Self Storage Investing. Our facility is called Cardinal Storage and is located in Webb City, MO. It has 300 units.
What made you interested in investing in this type of deal?
The ability to partner with someone who is a storage unit pro.
How did you find this deal and how did you negotiate it?
I was asked to invest in the deal by Zach Quick.
How did you finance this deal?
85% bank loan with a 15% cash down payment which I was responsible for most of.
How did you add value to the deal?
Cash and credit.
What was the outcome?
It has been great so far. Ive been getting a steady distribution monthly. We have been able to raise rents by upwards of 40% across the board for the whole facility without sacrificing occupancy.
- Tyler Casey
Most Popular Reply
@Zach Quick 's story is very inspiring. Knows his stuff. Congratulations to the both of you.
This is a great example of what I think many high-income professionals should focus on if they are interested in real estate investing, but lack time and/or experience. Find an experience operator who's doing it full-time. Invest passively first. You'll learn a lot being a part of the deal.