Posted by Pete-NC on July 10, 2007 at 08:57:49:
I purchased a 25k sq ft storage facility with a 1500 sq ft office 18 months ago, and have increased the occupancy from 50% to 75%. And it finally occurred to me, that this would be a perfect situation for a small company with 2-4 employess to purchase and run the self storage as an investment with a positive cash flow and no rent payments. Anyhow, I’ve got two questions about financing?
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does this qualify as owner occupied, if so what type of financing is avail? What type of debt-ratio and ltv’s are avail?
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how long does the rent roll need to season, we’ve had a fairly steady but steep increase?
Thanks,
Pete