"Akio Ohtori - RIP Oppo" (akioohtori)
08/06/2018 at 17:56 • Filed to: TQ HQ, shop quest
5
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"Akio Ohtori - RIP Oppo" (akioohtori)
08/06/2018 at 17:56 • Filed to: TQ HQ, shop quest | 5
| 13 |
It occurs to me that I don’t think I’ve done a summary of all the properties I’ve tried to buy to further my car habit... so here we are. I’m only covering properties that I made offers on or came very close to.
The One That Got Away - April 2016
This is when I first decided to get serious about buying a shop. My initial search was actually for a commercial building, before I realized how difficult that is, and contacted a friend of a friend who is/ was a commercial realtor.
As luck would have it, she had the perfect place. Largeish shop in a sketchy area of town. Downside is it actually came with a house, which I didn’t want as I was barely keeping up with maintenance on my own place, let alone a second property.
For $110k I sincerely regret not buying this, but hindsight is bullshit and I let it get away. I didn’t have the money, didn’t love the area, and didn’t want another house. If I’d know how far afield my search would get in the coming years, I would have made it happen.
The Crazy Awesome Property - November 2017
After realizing I needed more money and a better job before actually getting serious, you can see there was a bit of a gap between my first and second attempts at buying.
This property was 5 acres, on a hill, and close to my house. Completely unimproved but with a great 270 degree view it was perfect. Offers were made, a deal was struck, and the deal was in the bag.
Until the seller refused to sign any sort of legal document.
He would, however, be open to taking 20% in earnest money and giving me 7 days to get my paperwork and in order.
Needless to say the deal fell though and I am happy to report as of last check the property remains unsold.
That clown can eat a bag of dicks.
!!! UNKNOWN CONTENT TYPE !!!
The Mediocre Property - December 2017
After that fell through, I promptly made an offer on the 5 acre lot across the street. Not as nice, but it would still work for my purposes. The downside was they had it listed for about 20% more than was reasonable given the area, lack of utilities, and un-flatness of the land.
My first offer was low and the seller refused to counter.
My second offer was better and the seller refused to counter.
My third offer was top dollar and the seller refused to counter.
Several months later the property sold, but sadly the records aren’t available online in that county, so we’ll never know for how much.
!!! UNKNOWN CONTENT TYPE !!!
The Crack Shack - March 2018
I think I summarized the Crack Shack the best in my old Oppo post about it:
the whole inside feels like a fever dream of a methed out toddler
And so it was. The shop was small and really random and the lot was too large at 10 acres, but as my expectations lowered I began to think that maybe this was ok.
Unfortunately it was at this point my realtor betrayed his meh-ness and we were never able to put anything together. I eventually tried going around him, but at that point it was too late and the property sold.
!!! UNKNOWN CONTENT TYPE !!!
The Crack House - July 2018
That realtor fired and some lessons learned from trying to finance the crack shack, my search shifted to shops with houses on the lot. The reason being is land is hard to finance, land with a shop on it is very hard to finance, but houses are easy as long as they’re not terrible.
This one was terrible.
In the process of putting together an offer it came out that the house had major structural, sanitary, and safety issues that the seller was unable to address.
The massive shop wasn’t enough to save this one and I let yet another slip away.
!!! UNKNOWN CONTENT TYPE !!!
The CDC House - August 2018
The latest entry comes courtesy of a bank owned property with an optimistic realtor.
Beautiful treed 3 acres more or less. Property has a nearly new shop with electric and water going to it and a loafing shed. Home is 2 bedroom, 1 bath, with a lg liv area and fireplace, formal dining, lg kitchen with lots of counters and cabinets.
This, of course, makes no mention of the major structural and safety issues, the rodent infestation, the termite infestation, or that the house has been bank owned and sitting for four years.
Against all odds I made a soft offer on this one as a cash sale with the house considered a liability, not an asset. As this offer, though completely sincere, was for less than 50% of the asking price, I’m not expecting to hear back.
!!! UNKNOWN CONTENT TYPE !!!
And there you have it
Those are the major ones, though there have been many minor. You never know what tomorrow’s search alert will bring so... :fingers crossed:
MM54
> Akio Ohtori - RIP Oppo
08/06/2018 at 18:05 |
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Good luck on the contin
uing search! It’ll be worth it in the end.
LOREM IPSUM
> Akio Ohtori - RIP Oppo
08/06/2018 at 18:09 |
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Any defunct fire houses available?
Always been a dream to own an old brick firehouse. Loft upstairs, all the room in the world downstairs for cars, a view of said cars from your living space, and a brass pole to slide down.
Nothing. But. Win.
XJDano
> Akio Ohtori - RIP Oppo
08/06/2018 at 18:12 |
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I would love to buy an old firehouse, but those tend to be in cities and towns. I’d prefer some acreage (20+) next home purchase.
His Stigness
> Akio Ohtori - RIP Oppo
08/06/2018 at 18:14 |
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Holy crap I remember reading your 11/2017 post. It’s been that long? Wow.
HFV has no HFV. But somehow has 2 motorcycles
> Akio Ohtori - RIP Oppo
08/06/2018 at 18:34 |
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Buying property is bullshit. Unless you have the ability, or lack of caring, to just throw money at it. We still plan on buying a second house and the search will being after taxes and bonuses come next April/May. This house will be the one out in the country with a big garage and 5+ acres weve been talking about since before we got married. And the house we’re in now will become a rental that could be profitable.
As much as I look forward to all of that. I dread the prospect of house shopping again. Like a lot
Nom De Plume
> Akio Ohtori - RIP Oppo
08/06/2018 at 18:45 |
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How thoroughly have you examined zoning codes in the applicable counties? Since you are at the point of getting creative. A n appearance before the city/county board to gain agreement to rezone/split into parcels a larger property can be worked to a forward thinking long term advantage.
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Nom De Plume
> Nom De Plume
08/06/2018 at 18:46 |
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Also this feels mandatory to express how much entertainment this serialized shop hunt has provided.
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Akio Ohtori - RIP Oppo
> HFV has no HFV. But somehow has 2 motorcycles
08/06/2018 at 19:02 |
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0.5 acre superfund sit e no utilities no access short 30 min ( 80 mile) commute from downtown [city center] $ 5,000,000 no lowballerz no trades i do not need help selling
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Akio Ohtori - RIP Oppo
> Nom De Plume
08/06/2018 at 19:03 |
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The zoning inside city limits is loose, but workable.
The zoning outside city limits is “build whatever”
Shamoononon drives like a farmer
> Akio Ohtori - RIP Oppo
08/06/2018 at 19:13 |
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I enjoy reading these updates, thanks.
SilentButNotReallyDeadly...killed by G/O Media
> Akio Ohtori - RIP Oppo
08/06/2018 at 19:23 |
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Excellent summary demonstrating great resilience and a sensible approach. You'll win in the end...
Quadradeuce
> Akio Ohtori - RIP Oppo
08/06/2018 at 19:36 |
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I was lucky to buy my 12000 sq ft warehouse right after the recession. $100k for the building and land, plus I put about $80k into it to install a loading dock, 14' door, and an office.
I have a contractor lined up to replace that small garage door on the right with a 12' door so I can start using that part of the shop for car fun.
davesaddiction @ opposite-lock.com
> Quadradeuce
08/07/2018 at 11:12 |
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Sweet...