On top of this massive boost to your bottom line, institutions that lend to developers in all industries have reviewed their levels of exposure and risk. We’re seeing major reductions in lending ratios for industries that have cooled; but as recent as mid-March, we saw one developer receive financial approval from a major institution for a new self-storage facility with a favorable 70/30 investment ratio.
With its solid track record―not just enduring but growing despite numerous shifts in the economy over more than three decades―the self-storage industry is seen by many as a stable and worthy investment. Even private funding is gaining ground in the amount of investment exposure.
There are plenty of reasons to get into the self-storage business at any time. However, now is the time to take advantage of lower construction and labor costs along with rising profitability to maximize your harvest of success and abundance. The return on investment will be more than satisfying to any investor looking for a sturdy ship to weather through our current economic condition.
Richard Leach of Richard Leach and Associates Inc., in Brampton, Ontario, is also a marketing consultant for the Ontario-based Canadian Metal Manufacturing Inc., which develops turnkey self-storage systems. Established in 1999 as a metal fabricator, the company has been in the self-storage industry since 2003. For more information, call 905.951.1762; visit www.canadianmetal.ca.