Self storage purchase questions

[Bilal A.]

Hello All,

I'm starting to look at self storage facilities and need some basic questions addressed that pertain to the MN market:

1. Are there Local/community MN banks that lend for self storage purchases? What are the typical LTVs, loans types, interest rates, amortization people are seeing? 

2. What are the typical CAP rates for secondary and tertiary markets around MSP? Lets say for 20-40k sq ft size self storage facilities?

3. Any recommendations on lawyers that have experience with and have helped purchase self storage facilities? 

Thanks in advance!     
Bilal

[Terry Campbell]

@Bilal A.

Get up with me and I can give you details of what is available. There are different loans and depending on your individual circumstances, we can determine what is best. You can get SBA for as low as 10% equity.