262 unit self-storage value add

[David Lilley]

Investment Info:

Other buy & hold investment in Caddo Mills.

Purchase price: $1,350,000
Cash invested: $500,000

Contributors:
Dane Ohlen

262 unit self-storage facility 21% occupied at acquisition. We will stabilize the occupancy over the course of two years and add RV and boat storage. Projected 19.7 IRR over 10 years.

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

Ability to quadruple NOI by increasing occupancy to market levels.

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

Industry contacts. Negotiated seller financing at 80% LTV 5% interest only for 2 years.

How did you finance this deal?

Seller financing at 80% LTV, 5% interest only for 2 years.

How did you add value to the deal?

Increasing occupancy