324. 3 Self Storage Loans We’re Using Today (SBA, Seller Finance, Private Money)

Financing is a necessary hurdle to clear when buying a self storage facility, and in this market, it’s more crucial than ever to explore all your self storage loan options and get creative when structuring deals. The good news is, you likely have even more negotiating power today than in years past!

 

In this episode, AJ and Conner are pulling back the curtain and sharing multiple financing strategies you can use to fund your next self storage deal. First, they dig into seller financing and share the three-option approach they use to win over hesitant owners. Then, they discuss Small Business Administration (SBA) loans that, when done right, allow you to put as little as 10% down. They also cover several methods of raising private capital, from pitching opportunities to close friends and family to bringing on a hard money lender.

 

With these financing strategies, you may not even need the bank to get into a proven asset class like self storage. Once your self storage business is stabilized, follow AJ and Conner’s refinancing tips to lock in great terms on a long-term loan!

 

What you’ll learn in today’s show:

• Several ways to fund your next self storage facility (even without the banks)
• The secret to pitching seller financing as a win-win for both sides
• Three golden “rules” to follow when structuring a seller financing deal
• Putting as little as 10% down on a self storage facility with an SBA loan
• What every investor must know when refinancing into a more “permanent” loan

Links: 

🌳 Work with someone experienced in self storage loans at Live Oak Bank! https://www.liveoakbank.com/business-loans/self-storage/

🎙️ Do you have a great story to share on the SSI or AJ Osborne podcasts? You can now apply here! https://form.asana.com/?k=TGU88eU0bFTFW1iHcckuTA&d=1203571084143207

📖 Get AJ's book that teaches you everything he knows about self-storage https://a.co/d/aRSKcSq

📉 Take advantage of today’s market conditions and invest with us: https://cedar.cc/invest