Value-add self-storage facility: looking for potential investors and partners

[Armen Khalafyan]

Investment Info:

Other buy & hold investment.

Purchase price: $550,000
Cash invested: $100,000

96-Unit storage facility value-add deal.

What made you interested in investing in this type of deal?

This is a distressed storage facility that has a great potential to be stabilized and have the value added by more than 30%.

How did you find this deal and how did you negotiate it?

Founded listed in Crexi and LoopNet. Negotiated and agreed on two great terms: subject-to loan for 18-months and owner finance for 18-months.

How did you finance this deal?

Portion-1: Subject-To Loan
Portion-2: Owner Finance
Potion-3: Cash down-payment

How did you add value to the deal?

I'm streamlining the management, increasing the occupancy and improving the property.

What was the outcome?

Property was purchased couple of week ago, and it is being worked on now to increase it's future value

Lessons learned? Challenges?

Still working on it now.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, worded with a local broker/agent who was fantastic to work with.