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Updated over 7 years ago,
Self Storage Site Selection / Planning & Construction Help Needed
I've been looking to build self storage. My personal budget isn't massive however I feel enough to get a phase 1 of a project done then once stabilized used to finance phase 2. If I need to get more money to knock it out of the park I will. I believe building is where I will get most bang for buck and create the most value.
My issue is that I now have an excellent realtor looking in my area and we can track down good priced land with demographics which I believe will work however since I don't really know the business I need someone who can help me determine areas where to look for land which will fit my personal project goal. Once I find the land this person can then do a feasibility study which my bank requires which will tell me how to design the build on the land and then do a competition and projection analysis among other things.
It has been hard to find someone thus far. I need more of a partner / consultant to help me along the way to get it done right the first time. Feasibility professionals in this industry seem very hard to deal with. They all want you to find your own land and then pay them $6k to tell you yes or no. They seem very uninterested to assist before hand to help this process get done right the first time.
I'm fine paying someone upfront a consultant fee to work with me through the planning, site selection, feasibility, construction and stabilization period on to phase 2 but finding someone like this is proving very difficult.
I'm wondering if anyone can give me any advice in this regard on how to go forward?
Thanks,
Christopher