Commercial Real Estate Financing 
101 for Self-Storage Owners

Looking for commercial real estate investor leads
at an unbelievable low price?
[62,000 Database Names]

Commercial Real Estate Financing 101 for Self-Storage Owners

Commercial Real Estate Financing 101 for Self-Storage Owners
By Anita Murphy

Commercial real estate financing can be a complicated process, but all in all is just like leasing anything else. A lot of the time financing self-storage involves taking out a hard money commercial loan, which is based off assets. In a hard money commercial loan, the one receiving the loans secures the funds via the value of real estate, which in this case is self-storage real estate.

When financing in the world of self-storage and commercial real estate, it is important to look at commercial loan rates. Commercial loan rates vary by lenders and banks. They are much like personal loans, and most often need you to have some sort of collateral. To be approved for a commercial loan, you will have to pass a credit score check, and have you assets appraised. Lenders are known for giving a commercial loan rate of about 80 percent of the property's overall value.

So how does this tie into financing self-storage property? This ties in because financing is a big part of owning a self-storage facility. Many questions arise regarding how to get a commercial loan for this commercial real estate that has a rising market and demand. First off, to improve your odds of getting a loan, deal with any maintenance needed at the facility. Do this before you have your assets evaluated, as you may need to take pictures of the photography for the lenders. Also make it clear to lenders that you understand the market and management systems. Although, you do not need experience in owning commercial real estate to own self-storage, it is good to have managerial experience. Before you get a quote from the lender take pictures of the property and the things around it. Also provide all information about the facility that seems relevant, such as how much space is on the property, and what you plan on doing business and price-wise.

Unfortunately, before getting your loan you will need a bit of cash in-pocket already for different third-party services. For example, you will need to pay appraisers for an appraisal report. They will tell you the overall value of the property you plan on financing. You may also need to get a three-stage environmental assessment to determine if there are any hazards regarding the land the facility is on. Part of the risk assessment is on paper, and the other parts are more physical related and involve tests and walk-through. Other fees include some legal fees, around $5,000 to $10,000, assuming there are no slip-ups or complications. There will also be a loan fee (similar to a personal loan) of about one percent of the loan, which could be sizable depending on how big of a loan you are trying to take out.

The loan process can take sometimes at least 60 days, unless you are a veteran when it comes to self-storage financing. In the end, just do your research and be prepared. If you're prepared, and have a good grip on what you're doing and what you need to do, you will be a self-storage owner in no time and will be happy with your investment.

Are you looking for more information regarding commercial real estate financing [http://www.1bridgecapital.com]? Visit [http://www.1bridgecapital.com] today!



Article Source: https://EzineArticles.com/expert/Anita_Murphy/1660981
http://EzineArticles.com/?Commercial-Real-Estate-Financing-101-for-Self-Storage-Owners&id=7930639

Looking for commercial real estate investor leads
at an unbelievable low price?

[62,000 Database Names]






How to Contact Us:
E-mail:
barclay@netcarrier.com
Or phone or text us:
856-278-6103
Fax: 844-328-4827
Send us an E-mail with some details of your financing request. It is important to send your: Full name, PHONE NUMBER and a paragraph or two describing your financing needs. Please DO NOT forget to include your PHONE NUMBER.

Call us anytime 24/7. We are available for one-on-one discussion up to 11 PM Eastern Time and on weekends.
BARCLAY ASSOCIATES - Cherry Hill NJ



Looking for commercial real estate investor leads
at an unbelievable low price?
[62,000 Database Names]




MINIMUM LOAN AMOUNTS

  • INCOME PROPERTIES - COMMERCIAL MORTGAGE LOANS- Multifamily (apartment building) - $100,000 minimum loan amount. ($125,000 minimum if referred by broker.) Multifamily buildings must be 8 to 10 units or more. Multifamily loan amounts under 300,000 ($375,000 if referred by broker.) must have 25% down payment.

    Office building loans, self storage units, mobile home park financing, strip centers, warehouses and other commercial real estate property loans - $300,000 minimum loan amount ($375,000 minimum if referred by broker).
  • RAW LAND LOANS OR LAND DEVELOPMENT LOANS $500,000 minimum loan amount($600,000 minimum if referred by broker).
  • SBA LOANS-$300,000 minimum loan amount. ($350,000 minimum if referred by broker).
  • OTHER SMALL BUSINESS LOANS (NON SBA)- $300,000 minimum loan amount ($375,000 minimum if referred by broker).
  • FACTORING AND ASSET BASED FINANCING These are business loans using accounts receivable, inventory, equipment & real estate as collateral- $500,000 minimum loan amount($600,000 if referred by broker).
  • OTHER TYPES OF FINANCING NOT INCLUDED ABOVE - contact us for minimum loan amounts.
Copyright 1997-2020 JS Inc./Barclay Associates-All Rights Reserved
Page copy protected against web site content infringement by Copyscape

BROKERS and other intermediaries- WE WELCOME BROKERS. It is EXTREMELY IMPORTANT that you [CLICK HERE] to obtain full information about our referral fee program and our referral fee rates to brokers.
WHAT WE DO NOT DO:
  • We DO NOT finance residential properties-only commercial.

To quickly move around other major areas of our website,
CLICK ON A SUBJECT BELOW:
[Financing Overview Page]
[Commercial Mortgage Loans]
[Income Property Loans over $2 million]
[Factoring]
OTHER SERVICES:
[Small Commercial Mortgage loans]
[PO Financing]
[CONTACT US]
[SEARCH our site]
[INDEX to Site]
We welcome brokers-for more broker information:
[Brokers Click Here]
FINANCING FOR:
[Apartment buildings]
[Office buildings]
[Industrial buildings]
[Real Estate Developers]
[Shopping Centers]
[Mobile home parks]
[Hard Money Loans]
[Raw land loans]
[SBA Mortgage Loans]

Copyright 1997-2020 JS Inc./Barclay Associates-All Rights Reserved
Page copy protected against web site content infringement by Copyscape