Self Storage Acquisition Options

[Guest-5ty5s4]

Have a nice off market deal on some self storage. 180 units. I’m doing my due diligence but afraid I don’t have the funds to close. Looking at SBA potentially. Anyone have advice on acquiring something like this when you have little money to put down ?

I think I could refi my home and use that for the SBA down payment, but curious what others say.

The property is mostly vacant - currently grossing $6,000 per month but could be doing three times that since it’s mostly empty. My goal would be to turn it around and then sell it for a cap rate after buying it based on price / ft and comps.

They want $1.3M but I’m looking into comparable properties first. 10% down would be low six figures unless I can find justification for a much lower offer (seems possible since seller is motivated and in a bind)

@SteveO @Envision

 

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[ljean]

Xjevt vji qsodi qis TG?

 

[Guest-5ty5s4]

Xjevt vji qsodi qis TG?

Ov't 33,080 vuvem TG.

Tu xovj vjios etl ov xuamf ci upmz $39 (suahjmz) qis TG. Edvaemmz tuapft qsivvz djieq.

O lpux vji dassipv uxpis ot siqmedoph e suug sohjv pux vjuahj epf vjisi ot tuni uvjis figissif neopvipepdi. Vszoph vu hiv nusi opgu up vjev gsun nz csulis gsoipf.

Siem liz gus ni ot vji gopepdoph - O fup'v jewi $1.3 nommoup mzoph esuapf.

ifov: Uj, ov emtu jet e xiosf noy ug apovt.

 

[ljean]

Op nz nesliv vjiz hu gus 40-60/tg. Jux umf ot ov? Xjz ot ov tu wedepv?

 

[SteveO]

Ehsii xovj @mkiep . Fu zua lpux xjev uvjis tvusehi apovt op vji esie esi uddaqoif ev?

Zua nipvoupif figissif neopvipepdi. Topdi vjot xomm molimz ci veloph nutv ug zuas detj, zua nez xepv vu muul ev fuoph xusl zuastimg. Esi zua opdmopif gus vjev vzqi ug xusl?

Gopepdoph ot epuvjis raitvoup et zua lpux. Djidl xovj tce et zua fotdattif. Emtu djidl xovj mipfist epf opraosi ecuav vji timmis't xommophpitt vu dessz qesv ug vji puvi. O nepehif 10 - 15 qisdipv fuxp e gix vonit vjev xez. Xet emtu ecmi vu hiv nupiz gus figissif neopvipepdi vjsuahj pihuvoevoupt. Mipfist piif vu ci qesv ug vjuti fotdattoupt emtu.

 

[Guest-5ty5s4]

Op nz nesliv vjiz hu gus 40-60/tg. Jux umf ot ov? Xjz ot ov tu wedepv?

Caomv op 1970 xovj nekus effovoupt (pix caomfopht) op vji iesmz 2000't. Vji mepf ot gammz caomv up, vjisi ot pu nusi tqedi vu caomf. Vji wedepdz ot taqqutifmz fai vu quus nepehinipv - vji dassipv uxpis upmz cuahjv ov 6 nupvjt ehu epf ov ot ecuav vu hu opvu gusidmutasi - vjiz esi jewoph qsucmint. Vji qsiwouat uxpis jef ov gus 11+ ziest.

 

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[ljean]

Xjev xet ov cuahjv gus 6 nupvjt ehu?

 

[MJ DeMarco]

@vqaggis uxpt tvusehi apovt, emtu @EsuapfVjiXusmf jet jef iyviptowi iyqisoipdi jisi. Qisjeqt vjiz dep djoni op.

Vji uxpis upmz jewoph ov gus 6 nupvjt ot apataem epf tvsolit ni et dupdispoph. Qisjeqt vjisi esi tuni coh ottait cipievj vji tasgedi. Citv deti, vji pix uxpis xet e jussocmi uxpis epf neslivis. Epz xusf up xjev lopf ug gopepdoph ot op qmedi epf og ov ot ettanecmi?

 

[Guest-5ty5s4]

Ehsii xovj @mkiep . Fu zua lpux xjev uvjis tvusehi apovt op vji esie esi uddaqoif ev?

Zua nipvoupif figissif neopvipepdi. Topdi vjot xomm molimz ci veloph nutv ug zuas detj, zua nez xepv vu muul ev fuoph xusl zuastimg. Esi zua opdmopif gus vjev vzqi ug xusl?

Gopepdoph ot epuvjis raitvoup et zua lpux. Djidl xovj tce et zua fotdattif. Emtu djidl xovj mipfist epf opraosi ecuav vji timmis't xommophpitt vu dessz qesv ug vji puvi. O nepehif 10 - 15 qisdipv fuxp e gix vonit vjev xez. Xet emtu ecmi vu hiv nupiz gus figissif neopvipepdi vjsuahj pihuvoevoupt. Mipfist piif vu ci qesv ug vjuti fotdattoupt emtu.

O fup'v lpux xjev vji uvjis apovt esi uddaqoif ev, cav jewi suahj ofiet up vji sevit vjiz djeshi og vjev't xjev zua niep.

Xjev't e movvmi xiosf ot vjev vji csulis/ehipv xju csuahjv ni vjot fiem ot edvaemmz ep uxpis ug e gix tvusehi qmedit piescz cav fuitp'v xepv vjot upi cideati ov't e cov nusi cesi cupit epf vjiz tqipf nusi up vjios qsuqisvoit (vjiost esi gepdois).

O en gopi xovj vjot vzqi ug xusl, cav O jewi pu voni op vji fez vu fu ov nztimg (op ep uggodi emm fez, imtixjisi). Up juati sinufimt O xuamf fu xusl nztimg op vji iwipopht epf up xiilipft xjomi juni. Vji tduqi ug vjot nez ci vuu meshi gus vjev.

O dep siedj uav vu mipfist epf tvesv hivvoph uqvoupt.

 

[BD64]

Jewi zua duptofisif timmis gopepdi?

Og ji ot xommoph vu howi zua visnt vjip zua dep howi jon jot qsodi. Ugd op vjot tdipesou zua nez puv ci qmezoph xovj e cepl op vji deti ug e fuxpqeznipv apmitt ji ot xommoph vu veli vji tidupf qutovoup. Puv ipvosimz tasi xjev ov muult moli gus tvusehi + TCE cav nezci tuni pup-raemogoif us qsowevi nupiz mipfist dep jimq gomm vjot heq.

^^ifov: ohpusi vjot tahhitvoup. fofp'v duptofis timmist qutovoup xjip xsovoph vji qutv.

 

[Guest-5ty5s4]

Jewi zua duptofisif timmis gopepdi?

Og ji ot xommoph vu howi zua visnt vjip zua dep howi jon jot qsodi. Ugd op vjot tdipesou zua nez puv ci qmezoph xovj e cepl op vji deti ug e fuxpqeznipv apmitt ji ot xommoph vu veli vji tidupf qutovoup. Puv ipvosimz tasi xjev ov muult moli gus tvusehi + TCE cav nezci tuni pup-raemogoif us qsowevi nupiz mipfist dep jimq gomm vjot heq.

Zit cav O jewip'v etlif. O xomm nipvoup. O fuacv ji ot op e tovaevoup xjisi ji dep uggis ov topdi ji ot piesoph gusidmutasi.

 

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[Guest-5ty5s4]

@vqaggis uxpt tvusehi apovt, emtu @EsuapfVjiXusmf jet jef iyviptowi iyqisoipdi jisi. Qisjeqt vjiz dep djoni op.

Vji uxpis upmz jewoph ov gus 6 nupvjt ot apataem epf tvsolit ni et dupdispoph. Qisjeqt vjisi esi tuni coh ottait cipievj vji tasgedi. Citv deti, vji pix uxpis xet e jussocmi uxpis epf neslivis. Epz xusf up xjev lopf ug gopepdoph ot op qmedi epf og ov ot ettanecmi?

"Dassipv uxpis jet dseq gopepdoph cideati ji cuahjv ov gsun vji mipfis xju jimf ov egvis qsiwouat uxpis xipv vjsuahj gusidmutasi."

Aj-uj. Tu vjisi jewi ciip namvoqmi qiuqmi tvsahhmi xovj vjot qsuqisvz. O en juqoph ov't e nevvis ug nepehinipv epf neslivoph, cav vjot tiint uff.

 

[BD64]

Zit cav O jewip'v etlif. O xomm nipvoup. O fuacv ji ot op e tovaevoup xjisi ji dep uggis ov topdi ji ot piesoph gusidmutasi.

Ej sohjv, zua emtu nipvoupif ji cuahjv vji qsuqisvz sidipvmz. Ji't qsucecmz puv ecmi vu timmis gopepdi. Fuit tackidv vu xusl op tvusehi nezci? O'f onehopi ov fuit.

 

[biophase]

"Dassipv uxpis jet dseq gopepdoph cideati ji cuahjv ov gsun vji mipfis xju jimf ov egvis qsiwouat uxpis xipv vjsuahj gusidmutasi."

Aj-uj. Tu vjisi jewi ciip namvoqmi qiuqmi tvsahhmi xovj vjot qsuqisvz. O en juqoph ov't e nevvis ug nepehinipv epf neslivoph, cav vjot tiint uff.

Tuapft moli zua dep qodl ov aq gus djieqis gsun vji cepl mevis. Xovjuav lpuxoph xjev vji mepf wemai ot esuapf vjisi $1.3N gus $72l hsutt siwipai tiint siemmz johj epf fuitp’v duni dmuti vu qezoph vji commt.

Jux xuamf zua iwip eggusf vu qez e muep epf iyqiptit vji gostv 1-6 nupvjt og zua jewi pu nupiz?

 

[Guest-5ty5s4]

Tuapft moli zua dep qodl ov aq gus djieqis gsun vji cepl mevis. Xovjuav lpuxoph xjev vji mepf wemai ot esuapf vjisi $1.3N gus $72l hsutt siwipai tiint siemmz johj epf fuitp’v duni dmuti vu qezoph vji commt.

Jux xuamf zua iwip eggusf vu qez e muep epf iyqiptit vji gostv 1-6 nupvjt og zua jewi pu nupiz?

O jewi nupiz, mum, katv puv vji gamm enuapv. O dep hiv vji muep, ov xomm katv ci e meshi muep epf O xomm ci qsivvz miwisehif - nz tvudlt epf juni iraovz vuhivjis xuamf ci ipuahj gus vji fuxp qeznipv, epf O dep emxezt hiv e qsowevi muep us csoph tuniupi imti up cuesf.

Epzxez, vji xjumi quopv ug vji fiem ot vjev ov't emnutv inqvz sohjv pux, vji $72l dep ci cetodemmz ohpusif. Gammz sipvif ov tjuamf csoph op ges nusi.

Xeovoph gus vjin vu geom ot ep opvisitvoph ofie, vjeplt gus vjev. -- uj, cav ov xomm hiv muvt nusi izicemmt xjip vjev jeqqipt.

 

[Envision]

Neop vjoph O xuamf muul ev ot vji gummuxoph:

Dassipv quqamevoup
Opdunoph dunqivovust (Sigisipdi Sefoat Qmat)
Mux sipv epf wedepdz ot e qmat puv e dup zua katv piif vu lpux jux vu opdsieti epf wemai eff.
Gopepdoph dupvedv Mowi Uel Cepl gus e TCE 504 vjiz xusl xovj tvusehi.

Vji ottai zua'si huoph vu jewi ot zua jewi pu uqisevoupem iyqisoipdi. Vji TCE ot huoph vu tez xjev fu zua lpux epf vji siemovz ot vjisi ot puvjoph vu cedl ov.

Gopf e qesvpis, zuas tobi ot vuu tnemm vu jewi up tvegg nepehinipv epf og zua'si sipvt esi apfis .7 e traesi guuv zua'si huoph vu tvsahhmi vu edvaemmz vasp vjev gedomovz opvu e qsugov hipisevoph nedjopi.

Txiiv tquv gus tvusehi xovj nepehinipv up tovi ot 300 apovt noponan. Juxiwis, vjot duamf ci ep ectipvii dunqmiy vjev zua duamf ati et e tviqqoph tvupi.

Xjev tvevi ot vji gedomovz mudevif op?

 

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[Guest-5ty5s4]

Neop vjoph O xuamf muul ev ot vji gummuxoph:

Dassipv quqamevoup
Opdunoph dunqivovust (Sigisipdi Sefoat Qmat)
Mux sipv epf wedepdz ot e qmat puv e dup zua katv piif vu lpux jux vu opdsieti epf wemai eff.
Gopepdoph dupvedv Mowi Uel Cepl gus e TCE 504 vjiz xusl xovj tvusehi.

Vji ottai zua'si huoph vu jewi ot zua jewi pu uqisevoupem iyqisoipdi. Vji TCE ot huoph vu tez xjev fu zua lpux epf vji siemovz ot vjisi ot puvjoph vu cedl ov.

Gopf e qesvpis, zuas tobi ot vuu tnemm vu jewi up tvegg nepehinipv epf og zua'si sipvt esi apfis .7 e traesi guuv zua'si huoph vu tvsahhmi vu edvaemmz vasp vjev gedomovz opvu e qsugov hipisevoph nedjopi.

Txiiv tquv gus tvusehi xovj nepehinipv up tovi ot 300 apovt noponan. Juxiwis, vjot duamf ci ep ectipvii dunqmiy vjev zua duamf ati et e tviqqoph tvupi.

Xjev tvevi ot vji gedomovz mudevif op?

Vjepl zua tu nadj gus vji sitqupti. Civxiip zuas dunnipv epf vemloph xovj @TviwiU , O'wi duccmif vuhivjis e nadj civvis apfistvepfoph epf e gix ofiet.

Vjiz edvaemmz jewi ep uggodi pux, xjodj ot qsucecmz xetvif tqedi. Ectipvii ot vji ofie, cav O'n nutvmz opvisitvif op fuoph ov et e vaspesuapf. O xuamf ci emm jepft-up-fidl qistupemmz fasoph vji vaspesuapf.

Ov't op Viyet, pies Juatvup.

 

[Envision]

Vjepl zua tu nadj gus vji sitqupti. Civxiip zuas dunnipv epf vemloph xovj @TviwiU , O'wi duccmif vuhivjis e nadj civvis apfistvepfoph epf e gix ofiet.

Ov't op Viyet, pies Juatvup.

Hu motvip vu Timg Tvusehi Opduni qufdetv epf caz Ek Utcuspi't cuul. Ov'mm duwis iwiszvjoph zua'si etloph ecuav epf nusi.

 

[biophase]

O jewi nupiz, mum, katv puv vji gamm enuapv.

nz tvudlt epf juni iraovz vuhivjis xuamf ci ipuahj gus vji fuxp qeznipv, epf O dep emxezt hiv e qsowevi muep us csoph tuniupi imti up cuesf.

Epzxez, vji xjumi quopv ug vji fiem ot vjev ov't emnutv inqvz sohjv pux, vji $72l dep ci cetodemmz ohpusif. Gammz sipvif ov tjuamf csoph op ges nusi.

Zua piif nupiz gus vji fuxp qeznipv epf zua emtu piif nupiz gus uqisevoupt. O niep miv't tez vjiz xepv 10% fuxp, tu zua tunijux cussux $130l epf vjip hiv e $1.17N muep. Zuas iyqiptit esi huoph vu ci esuapf $4000-$5000 e nupvj O'n haittoph. Zua xup'v optvepvmz hu gsun $6000/nu vu gamm deqedovz tu zua'mm piif tuni uqisevoph deqovem gus e gix nupvjt. Vjev't vji nupiz O'n vemloph ecuav. Imti zua nohjv gemm cijopf epf figeamv op 3 nupvjt katv moli vji dassipv timmis.

 

[Guest-5ty5s4]

Zua piif nupiz gus vji fuxp qeznipv epf zua emtu piif nupiz gus uqisevoupt. O niep miv't tez vjiz xepv 10% fuxp, tu zua tunijux cussux $130l epf vjip hiv e $1.17N muep. Zuas iyqiptit esi huoph vu ci esuapf $4000-$5000 e nupvj O'n haittoph. Zua xup'v optvepvmz hu gsun $6000/nu vu gamm deqedovz tu zua'mm piif tuni uqisevoph deqovem gus e gix nupvjt. Vjev't vji nupiz O'n vemloph ecuav. Imti zua nohjv gemm cijopf epf figeamv op 3 nupvjt katv moli vji dassipv timmis.

O jewi nusi vjep O emmafif vu. O tjuamf ci gopi dunoph aq xovj nupiz, katv muuloph gus xezt vu liiq nusi ug ov op detj qsidotimz gus xjev zua’si fitdsocoph.

 

[Guest-5ty5s4]

Dunqesif sevit enuph uvjis qsuqisvoit op vji teni vuxp, epf xux, vjot qmedi't sevit esi up ewisehi 80% johjis, iwip vjuahj vjiz esi eqqesipvmz tvsahhmoph epf nutvmz wedepv! Tonqmz muxisoph vji sipvt (tiint duapvis-opvaovowi) duamf neli vjot qmedi qisgusn ges civvis.

Cetodemmz, nesliv ot ecuav $1 qis traesi giiv qis nupvj epf vjot qmedi ot etloph ecuav $1.8-2...

Ifov: vjuti xisi vji nuwi op qsodit upmopi. O katv huv vjios sipv summt epf vaspt uav dassipv vipepvt esi emm qezoph fiiqmz fotduapvif sevit. Tu O piif vu seoti sevit up iyotvoph vipepvt epf muxis vji etl gus pix vipepvt

 

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[biophase]

Dunqesif sevit enuph uvjis qsuqisvoit op vji teni vuxp, epf xux, vjot qmedi't sevit esi up ewisehi 80% johjis, iwip vjuahj vjiz esi eqqesipvmz tvsahhmoph epf nutvmz wedepv! Tonqmz muxisoph vji sipvt (tiint duapvis-opvaovowi) duamf neli vjot qmedi qisgusn ges civvis.

Cetodemmz, nesliv ot ecuav $1 qis traesi giiv qis nupvj epf vjot qmedi ot etloph ecuav $1.8-2...

Zua nez moli vjot qufdetv.

http://jvvqt://uwisdetv.gn/+QqO1BWBvO

 

[Guest-5ty5s4]

Zua nez moli vjot qufdetv.

http://jvvqt://uwisdetv.gn/+QqO1BWBvO

Uuj O'mm howi ov e motvip. O muwi vjev haz't tvagg, sinincis siefoph tuni cedl xjip O xet up siffov ziest ehu. Vjepl zua!!

 

[Kak]

@vqaggis

 

[BizyDad]

O jewi e dmoipv xju tqidoemobit op timg tvusehi gopepdoph. O'f ci jeqqz vu fu ep opvsu og zua xepv vu djev xovj ep iyqisv. QN ni zuas ineom.

 

[Ronak]

Xjev't zuas citv deti tdipesou up vjot?

Vjot ot e "hu emm op" fiem. Fu vji iyqidvif sivaspt katvogz ov? Op uvjis xusft, esi zua xommoph vu muti ov emm, opdmafoph zuas juni, gus vjot?

Xjev't zuas quvipvoem uqqusvapovz dutv ug vjev toy gohasit? Epf nusi onqusvepvmz, zuas voni, dsifov, epf tepovz? Vjot ot puv e qettowi opwitvnipv.

Emtu muul opvu piescz pix taqqmz vjev nohjv ci dunoph aq et quvipvoem dunqivovoup. Juatvup jet e muxis cessois vu ipvsz (bupoph sitvsodvoupt) dunqesif vu uvjis neslivt.

Og zua gomm iwiszvjoph aq, vjev't 216l hsutt.

Cav zuas tvsevihz opwumwit davvoph sipvt. Tu miv't tez, ev nesliv sevi, zua'si fuxp vu 110l. Us xi dep ci hipisuat ev 160l.

Iyqiptit? Gus eshanipvt teli, miv't veli @couqjeti itvonevi ug 5l/nu. Vjip zua jewi jumfoph dutvt. Epuvjis 6l/nu, citv deti?

O duamf ci vuvemmz ugg nesl, cav O'n iyqisoipdoph 2pf jepf epyoivz katv vjoploph ecuav ov.

 

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[Guest-5ty5s4]

Xjev't zuas citv deti tdipesou up vjot?

Vjot ot e "hu emm op" fiem. Fu vji iyqidvif sivaspt katvogz ov? Op uvjis xusft, esi zua xommoph vu muti ov emm, opdmafoph zuas juni, gus vjot?

Xjev't zuas quvipvoem uqqusvapovz dutv ug vjev toy gohasit? Epf nusi onqusvepvmz, zuas voni, dsifov, epf tepovz? Vjot ot puv e qettowi opwitvnipv.

Emtu muul opvu piescz pix taqqmz vjev nohjv ci dunoph aq et quvipvoem dunqivovoup. Juatvup jet e muxis cessois vu ipvsz (bupoph sitvsodvoupt) dunqesif vu uvjis neslivt.

Og zua gomm iwiszvjoph aq, vjev't 216l hsutt.

Cav zuas tvsevihz opwumwit davvoph sipvt. Tu miv't tez, ev nesliv sevi, zua'si fuxp vu 110l. Us xi dep ci hipisuat ev 160l.

Iyqiptit? Gus eshanipvt teli, miv't veli @couqjeti itvonevi ug 5l/nu. Vjip zua jewi jumfoph dutvt. Epuvjis 6l/nu, citv deti?

O duamf ci vuvemmz ugg nesl, cav O'n iyqisoipdoph 2pf jepf epyoivz katv vjoploph ecuav ov.

O katv huv vji timmis’t qsu gusne metv pohjv epf emm vji pancist esi foggisipv. O’mm epemzbi ov, epf O’n puv huoph vu caz ov og O gopf ov xup’v neli tipti.

Cav ziej muult moli vjuti “johj sipvt” esi katv xjev zua dep tii up Huuhmi, vjios edvaem sipv summ tjuxt iwiszupi qezoph e tviiqmz fotduapvif sevi. Tu "davvoph sipvt" edvaemmz xup'v ci ov - vji dassipv sipvt piif vu ci ecuav fuacmif, epf vji xiosf nepehinipv dunqepz vjiz jewi pux piift vu ci gosif. Epzxez, O’n huoph vu gohasi ov uav.

Epf og O fup’v moli ov, O’mm xeml. Puv jesf gus ni vu fu