Unlocking the Mysteries of Financing in Self-Storage Part 3!
Monday, March 14
One of the loans to seriously consider when you are investing in self-storage is an SBA loan. This is a loan from the Small Business Administration. These loans are designed to help small businesses purchase real estate. There are a few things that you need to know about an SBA loan. First, yo...
Unlocking the Mysteries of Financing in Self-Storage Part 2!
Friday, March 11
There are several different types of loans available in the commercial industry. It is important for you to know that your lender knows which one will be the best for you and your self-storage project. You want to have an idea of what your down-payment, payments and terms are going to be so tha...
Unlocking the Mysteries of Financing in Self-Storage Part 1!
Wednesday, March 09
Now that you have found a great property and you are looking for a great lender or have found a great lender, lets talk about some of the financing options that are available in the commercial world. There are a lot of options out there. You don’t need to be an expert on all of them, but you ne...
Your Commercial Lender Interview – How to be Ready to Wow Them!
Monday, March 07
Talking to a commercial lender is a little different than talking to a traditional residential lender. A residential lender wants to know about your credit and your income to see if you can afford to pay back the loan that you are getting against the property you are buying. They only look at y...
The 4th Rule of Thumb - Getting Started in Commercial Financing!
Friday, March 04
The Fourth Rule of Thumb deals with your financing. It doesn’t matter how great an opportunity you have found if you can’t find the funds to purchase the self-storage facility. Typically, if you have found a great property at the right price, you will be able to find the financing and the partne...
How to Determine if your Offer is Realistic During your Due Diligence!
Wednesday, March 02
Once you have an accepted offer, the seller will typically provide you with their financials. At this point, you can determine if the numbers that you have been given will allow you to cashflow. This will also help you to determine if you have offered too much for the property. Because you are...