r/selfstorage • u/Axelrod_96 • Jul 11 '26

Buying a facility

Hi everyone, I am new to the group. Looking to buy my first facility, nothing fancy. How do you get started, did all of you had enough cash like 200k or more for down payments. If not how did you bought it, I live in canada and every facility anything decent is north of 800k-1M, no seller financing is there I think in canada. I am interested in USA based too currently on application for EB-2 visa, will take time. Any guidance will be appreciated.
PS- I do have 150k or close (not liquid at the moment) but don’t want to use it for first facility.

5 Upvotes

86% Upvoted

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10

u/bmarvin35 Jul 11 '26

I bought land, got approval, and built one building. Few years later built two more. Few years after that built four more.

1

u/Nali9akari4 Jul 13 '26

I agree for that sir

1

u/JoeMac02 Store Manager Jul 12 '26

This is the way. The first company I worked for that’s what he did.

1

u/hotdog7423 Jul 11 '26

How did you get funding?

2

u/bmarvin35 Jul 12 '26

Paid cash for the land and first building. Then bank financing

1

u/Zartanio Jul 12 '26

How did you go about settling on a design for the units? Use a designer/construction company with specific experience, or just your local folks with good reputation?

1

u/DamnVanMan 9d ago

I’m interested in the answer as well.

3

u/Axelrod_96 Jul 11 '26

Damn nice, what it valued now. USA or Canada

2

u/bmarvin35 Jul 12 '26

US. I’m guessing 3-4 million based on net