All Forum Posts by: Johnny Cooke

Yes I have closed on the property,  half was over grown cutover. Have had it cleared and graded.  No studies other than there are none around like I'm looking to build. 20x30 "commercial" storage with a roll up door and walk through door. Would be 6 to a building, 30x120. 

I'm torn about how to continue. I got a Heloc to buy a piece of property at the first of the year, 5.99%. I plan on building self storage on the property, and have enough money in a CD to build the first one. But it is taking FOREVER to get to that point. Had to have a topo survey that took months and now waiting on DOT approve the driveway. My question is should I take the money I have and pay off the Heloc and then when everything is sorted out borrow the money for the building, or just keep making payments and wait it out? Thanks for any input!

 Room to build more?

 From what I have seen, its about the same per sqft to build and can get close to the same rent per sqft with less units to rent. Down side I guess would be when you lose one you lose alot.

I live in Clinton nc, smallish town. We have several self storage locations ( most full from online search). What the community's thoughts on contractor units? Say 20x30 10 foot roll up door and a walk through door? There isn't anything like that around here. Thanks for any help or advice.