By Garrett Byrd
Phase three is underway at Storage Authority Monmouth Rd.
One of the many models Storage Authority deploys is designing 60,000 -100,000 sq ft of self-storage and developing in phases.
Phasing self-storage construction minimizes the initial investment and allows for unit-mix alterations.
Going to a bank with a loan request for a smaller amount in the first phase can sometimes be better than asking for the whole project upfront. Most banks will approve a loan with a statement that a second phase will be constructed when the occupancy reaches 65-70 percent.
Phasing is a familiar process with lenders in the self-storage industry. It offers flexibility to market changes, minimizes capital exposure, and reduces risk.
Phasing a self-storage development comes with many benefits, including the opportunity to save money; but it doesn’t work in every situation.
A great article on self-storage on Inside Self Storage written by Marc Goodin back in 2020
Knowing When to Phase Your Self-Storage Development Project (and What It’s Worth to Do So)
If you would like to learn more and start your journey to self-storage ownership click the link here: http://www.storageauthorityfranchise.com/opportunity2 Storage Authority Franchising is about owning your own hometown self-storage business and having the professional systems and knowledge to assist and guide you. We like to say You are in business for yourself but not by yourself. If you are thinking about self-storage you owe it to yourself to contact Garrett Byrd at 941-928-1354 or Garrett@StorageAuthority.com to learn more about the Storage Authority Franchise opportunity. #selfstorageincomes #storageauthority #becomingwealthy #sellfstorageconstruction #selfstorageprofits #selfstoragelending #Storable #Sitelink #InsideSelfStorage #Developemt
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