How to Buy a Storage Facility - Financing Your Storage Facility with Terry Campbell
Self Storage Income
AJ Osborne
4.9 • 591 Ratings
🗓️ 13 October 2020
⏱️ 58 minutes
🧾️ Download transcript
Summary
What’s going on everybody!? Welcome back to the Self Storage Income podcast! This is your host AJ Osborne and I hope you’re all doing well, finding deals, and making moves.
One of the most talked about topics I hear from you guys about is the world of lending. Obviously, when we want to purchase a storage facility, we need money! But how and where to get that money? Well today you’re in for an incredible episode because we have the one and only Terry Campbell on the podcast today who works for LIve Oak Bank. Live Oak Bank has an incredible team of some of the best and most knowledgeable folks in the lending industry when it comes to small business and especially when it comes to self storage.
Terry shares some invaluable insights today into the world of lending, insights you’ll want to be sure to take note of. We talk about the different types of lending and financing options available. We talk about the different types of SBA loans and generally when and how you can use them. Terry even goes on to explain what exactly lenders are looking for when they are evaluating and deciding whether or not to lend to someone. These are just the tips of the iceberg of this episode today and I couldn’t be more excited to share this out to you guys.
Again, be sure to take notes, listen to this episode a couple times, do whatever you need to really soak up all the great information Terry covers throughout this episode.
You can reach Terry at Live Oak Bank at the links below:
Terry’s Email: terry.campbell@liveoak.bank
Live Oak Bank Website: https://www.liveoakbank.com/
Thanks for tuning in everybody, we’ll see you next time,
AJ
Be sure to go to Selfstorageincome.com to get your free copy of my Self Storage Playbook. This step by step playbook walks you through from start to finish - how to identify a self storage market, how to perform due diligence, how contact a current owner, and ultimately how to land a storage facility deal.
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The Self Storage Income Podcast is Sponsored by:
Janus International - https://www.janusintl.com/
Store Local - https://www.selfstorage.coop/aws/SL/pt/sp/home_page
Transcript
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| 0:00.0 | Looking to create wealth and income through high cash flowing real estate, self-storage is the fastest growing and the newest real estate asset that has outperformed all others. |
| 0:10.0 | What's it secret? |
| 0:11.0 | I'm A.J. Osborne and with over a million square feet that we have built, acquired, expanded, and even converted big box stores, |
| 0:19.0 | from small third-tier markets to large hundred plus thousand square foot facilities, we have seen it all. |
| 0:25.7 | This is the podcast that we're going to discuss and bring on the best investors and operators in the nation to show you how to create wealth and income with self storage. |
| 0:36.9 | Welcome to self-storage Income with Self Storage. Welcome to Self Storage Income. |
| 0:53.9 | We have a great podcast today that is going to have a lot of relevance to getting started and continuing to grow and how you set this up, because this is about financing. |
| 1:06.8 | And we have a lot of questions on this. |
| 1:09.1 | And our guest today comes from live oak bank |
| 1:13.0 | and i'm really excited about this because they they have a whole entire division that |
| 1:17.5 | specializes in self-storage and they're in markets all over the united states um so we're |
| 1:23.7 | going to understand what you need to be ready for, what you need to be prepared for when |
| 1:28.4 | getting financing and on these deals. But before we get into that, we definitely got to mention |
| 1:33.7 | our awesome sponsor, Janus. Janus, we've mentioned several times about the No Key products, |
| 1:41.3 | but it's also really important to understand their help on development. |
| 1:44.8 | I bring this up and I want to talk about this because this is what we're in the middle with |
| 1:48.9 | Janus right now. So we're working on everything from conversions to new builds. And while we're |
| 1:54.5 | doing this, we lean heavily on Janus to bring their expertise to the table to help us out |
| 2:00.7 | in everything from how we're |
| 2:03.6 | setting up the units, the architecture side, what sizes, demographics. They have such a wealth |
| 2:09.5 | of knowledge in that department that they can really help us understand what is going to work |
| 2:14.7 | in that market, what's not, and show us how that facility should be set up. |
... |
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