Loan Product and Value Add Questions for Self-Storage

[Alex Hymanson]

Hi!  Evaluating a self-storage opportunity and would love folks' input on a few questions that I have, below.  Really appreciate any insights that you can provide!

Questions:

- Commercial Loan - what are the best terms to target?  The purchase price will likely be <$500K if that changes anything.

- Value add - How much does it cost to build additional storage units?  These currently aren't fancy units.

- Value add - When building additional units, what steps should be taken to determine how many can be built?  Is it based on town zoning?  Surveys?  Something else?

- Value add - How much does it cost to convert Non-climate controlled units to climate controlled units? Is there typically an ROI?

- Value add - What other types of value add is typical for self-storage?