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Central VA “starter” property search questions

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  • Central VA “starter” property search questions

    Hello all and thank you for any help / advice in advance. I have rbeen keeping my eye out for awhile in Central VA for a “starter” storage unit property to buy. I work full time and travel within the state weekly. My question is whether any

  • #2
    *notice my post got cut off. I’m looking for a “starter” property in Central Va 25-50 units to let me enter business with reasonable starter terms. I look on LoopNet, was too late for a great opportunity in Waverly, Va (congrats to the new owner) and hoping folks from this forum may have suggestions on resources in finding available properties for sale? This will Be investment for me as I will keep my full time job and hire a manager and/or wife will help run the storage facility business. Any guidance is much appreciated!
    Best,
    Virginia9999

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    • #3
      Welcome to the forum Virginia9999. There are gobs of threads for you to look thru for starter facilities and what has worked best for them. May or may not adapt to your area. Good luck.
      "Never let the inmates run the asylum!"

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      • #4
        my name is chris and I've been in the self storage business for nine years and.I'm a current self storage manager and my dream is to become a self storage developer,owner in which I'm in the process of doing provided that my feasibility study will be approved for my future RV and Boat Condos project here in Louisiana.

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        • #5
          Welcome to the forum hillstorage. Hopefully a moderator will see this and move your post to the "Newbie Lounge". You just hijacked someone else's thread.
          "Never let the inmates run the asylum!"

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          • #6
            Thank you Pacnwstorage!

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            • #7
              Kids! What ya gonna do?
              "Never let the inmates run the asylum!"

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              • #8
                VA9999, welcome aboard! just as a thought to add to your considerations.....if you buy a facility in the size that you are considering, you don't want to hire a manager.....you won't make any money. plan to have your wife run it or you will end up making no money by the time that you pay someone. Look into some of the technology and software that exists to rent units. Also, cold call facilities that are in the size that you are looking for, because there may not be many that are actually publicly listed in that size range. Best of luck!
                Terry Campbell
                General Manager - Self-Storage lending division
                Live Oak Bank
                704-437-4322
                terry.campbell@liveoakbank.com
                www.liveoakbank.com

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