Self storage investing

[Johnny Cooke]

I'm torn about how to continue. I got a Heloc to buy a piece of property at the first of the year, 5.99%. I plan on building self storage on the property, and have enough money in a CD to build the first one. But it is taking FOREVER to get to that point. Had to have a topo survey that took months and now waiting on DOT approve the driveway. My question is should I take the money I have and pay off the Heloc and then when everything is sorted out borrow the money for the building, or just keep making payments and wait it out? Thanks for any input!

[Johnny Cooke]

Yes I have closed on the property,  half was over grown cutover. Have had it cleared and graded.  No studies other than there are none around like I'm looking to build. 20x30 "commercial" storage with a roll up door and walk through door. Would be 6 to a building, 30x120.