Self Storage Income 322. Self Storage Financing for Beginners: How to Fund Your Next Deal (Fast)
You’ve found a self storage deal, but to get to the closing table, you’re also going to need a lender. For many new investors, self storage financing is the most intimidating part of the process, but in this episode, Conner and George will share everything you need to know to get your first or next self storage facility fully funded.
The truth is that self storage is one of the least-defaulting asset classes today, and with one simple but crucial mindset shift, you’ll stop feeling like you’re “asking for money” and start confidently presenting attractive opportunities to banks, partners, and investors. You’ll learn how to speak the lender’s language and the keys to getting approved for a self storage loan.
We’ll also walk you through a checklist of essential documents, tips for analyzing self storage deals, and resources that will connect you with the best lenders. Plus, we’ll show you how to use debt service coverage ratio (DSCR) as a powerful negotiation tool and how to craft a business plan that gives lenders the confidence to partner with you.
What you’ll learn in today’s show:
- How to find a great lender for your first or next self storage deal
- Using debt service coverage ratio (DSCR) as a powerful negotiation tool
- Crafting a business plan that makes your self storage facility stand out
- Essential documents to have ready when working with a lender
- Why you should always talk to multiple lenders when funding a deal
- The massive advantage self storage has over other asset classes
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Learn More About Feasibility Studies - https://www.selfstorageincome.com/feasibility
Email info@selfstorageincome.com to Be Connected to a Lender
Self Storage Analysis 101: How to Underwrite a Self Storage Facility - https://www.youtube.com/watch?v=y4u4-OJbhnA