Getting into self storage tips.
Growing up my father owned a complex that had storage as well as office units for rent each month. I have been researching for a few months now into real estate investing and have come to a personal conclusion that self storage may be the route to go for me. There is currently a vacant lot the size of an acre next to my fathers property that is for sale. It is a corner lot on of the absolute busiest highways in our town and I believe I can get a deal on it. My plan was to get it and have more 10x20 units constructed on it. He never has any vacancy at his units hardly, especially the larger ones, so I know there is demand. I do  not have a large amount of capital at this time. Honestly only about 20k to invest. I will clearly need help with financing. My father has said he will pass the business down to me one day but the lot I acquire and build on I plan to collect that profit for myself at this time. He is supportive of the decision. My questions are this,

In acquiring funding for a project like this, what would you recommend?

Does this seem like a sound investment? To me it ticks the boxes as far as demand and location, but I wanted another opinion.

What are the best books to read on self storage investing? I spend a lot of time listening to books at work and driving, and am eager to learn as absolute much as possible.

Would it be a better investment to look into buying another storage facility in our county that is already built and would create cash flow almost instantly? My goal is to purchase as many B class facilities that I can and have those producing cash flow so that I can eventually pass them down to my children as well. 

Thank you for your time.
[{"id": "ey3urg9", "text": "Where you located?", "replies": [], "depth": 1}, {"id": "ey4cthc", "text": "Just posted about my self storage experience from a banking perspective. Let me know if you have questions!\n\nhttps://www.reddit.com/r/CommercialRealEstate/comments/cvibq1/self_storage_tips_from_a_banker/?utm_source=share&amp;utm_medium=ios_app", "replies": [{"id": "ey4dzjo", "text": "Thanks for posting this! I am under contract for my first SS business and benefited from your post. The nice thing, is that I can upvote you twice now!", "replies": [], "depth": 2}], "depth": 1}, {"id": "ey4ll4y", "text": "What is the demand for self storage in your area? Are the other units fully occupied?", "replies": [{"id": "ey6rmlz", "text": "Demand seems very high. We were afftected by Hurricane Michael, and it has turned the town upside down. I am looking on SelfStorage.com at CubeSmart and other storage facilities locally that are actually listed on there (which aren't many, hopefully meaning I can begin an online prescence and be ahead of a lot of the mom and pop competition) and I am seeing a little bit of availablity but not much. There are two CubeSmarts within 5 miles however, which makes me nervous.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ey6tpol", "text": "The best source of knowledge for you is going to be your father; he's got first-hand, local market experience that could be considered a gold mine; pick his brain, shadow him at work, help lease units, watch and really learn the operation. \n\nAnd you're gonna need more than 20k. Steel is expensive, and the tariffs are only driving it up.", "replies": [], "depth": 1}, {"id": "f0pqm4t", "text": "Do a feasibility study &lt;&lt;&lt;&lt;&lt;&lt;\n\nA full study or a desk study followed by a full study.\n\nI\u2019d say do a rent analysis, vacancy, etc etc but it seems like you have a site picked out already and are getting ready to pull the trigger so just do the study.  It never hurts to get a 3rd party professional opinion...\n\nwell it hurts a little to your wallet but it gives you some piece of mind that you\u2019re not just fooling yourself..", "replies": [], "depth": 1}]