Self Storage Project

[Blake Evans]

Investment Info:

Other commercial investment investment in Huntsville.

Purchase price: $45,200
Cash invested: $8,700

Purchased 2.54 commercial acres zoned C2. In Phase 1 construction which will include 6,000 sq ft of self storage.

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

Self storage is in high demand in my area.

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

I had been looking at the deal for a few months and finally decided to pull the trigger on it. Our real estate agent helped by answering the 1,000 questions I had.

How did you finance this deal?

Financed through local bank. Paid $8,700 down.

How did you add value to the deal?

I havent yet. Will be adding 6,000 sq ft of self storage.

What was the outcome?

N/A

Lessons learned? Challenges?

Learned you have to take a cashiers check to closing you can just take your personal check book haha. First investment property so I had no clue. Had to stop closing and go to my bank and get a cashiers check.

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

Real Estate Agent Adrienne Palazzi out of Bentonville, Arkansas was wonderful.

[Jennifer Schelkopf]

Thanks for sharing. What are you expecting to spend on the storage facilities?