Self Shortage Units are attractive to both buyers and lenders. Operating and maintenance costs are low and the ROI (return on investment) is comparable or higher than multi-family units and mobile home parks, which we also finance. The initial investment is 1/4 to 1/3 of other investments, and ongoing improvements are minimal. With our economy constantly evolving and the job market constantly changing due to jobs being eliminated, Self Storage Units are in demand because people are having to relocate in order to seek new opportunities.
Once you are pre-qualified we will have to fill out a standard 1003 application with a resume of other property owned, pull credit, and will need last years W2 and/or Schedule C. Just fax or email us the following pre-qualification information and we will contact you within 48 to 72 hours or less with an evaluation. You will then receive a quote with estimated closing costs including appraisal. Upon receiving final signed documentation we can close in 45-60 days or less.
Residential and Commercial Mortgage Co
Ph 865-428-6995 Fx 865-429-2391
NOTE: We have lenders who specialize in Mini Self Storages nation wide. We can offer a customized program to meet your present day and future financial needs weather Acquisition or Refinance. You will find that we are very competitive and responsive, and specialize in small balance mortgages. We require a minimum mid score of 580, and can finance Self Storages from $100,000 to $5 million and up to 90% loan to value.
Local banks usually do not want to do self storage, especially small balance, because they do not want to handle small loans and do not understand the storage business. WE SPECIALIZE IN SMALL BALANCE LOANS, and would like to have the opportunity to be of service to you.
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