"Akio Ohtori - RIP Oppo" (akioohtori)
03/07/2018 at 17:46 • Filed to: TQ HQ
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"Akio Ohtori - RIP Oppo" (akioohtori)
03/07/2018 at 17:46 • Filed to: TQ HQ | 3
| 14 |
On a whim I searched a commercial real-estate site to see what I could get within my price range and this popped up.
Pros:
Close to a lot of stuff, but a fairly private location
Not a bad drive from the house (on my old commute)
Ready to use - Only needs a lift
For sale/ lease means I might be able to do owner carry
Roof recently replaced
Good size (6000 sqft)
Cons:
About $40k out of my price range
A little further from the house than I’d like (~21 min w/o traffic)
Butts up to (but is not on) a flood zone
I have no idea what the ins and outs of owning a commercial property are
No lift
Flat roof
Certainly worth a drive-by anyway...
HammerheadFistpunch
> Akio Ohtori - RIP Oppo
03/07/2018 at 18:02 |
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This feels like a really huge investment. Not that im against it, I just hope you have plans to make sure it stays an asset and not a liability.
itranthelasttimeiparkedit
> Akio Ohtori - RIP Oppo
03/07/2018 at 18:04 |
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Are you getting this for personal use? I really want to do the same thing but can’t see my wife ever approving it. Thinking I could setup an LLC and renting out a few bays to random people (I own a legit business so I am aware of the risk/liability/stupidity that revolves around doing that)
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Akio Ohtori - RIP Oppo
> itranthelasttimeiparkedit
03/07/2018 at 18:11 |
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“Personal use only” but wouldn’t say no to renting it out for storage or whatever to the right people. Just at a point in life where the recreational space at my current house is inadequate but I don’t want to move.
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Akio Ohtori - RIP Oppo
> HammerheadFistpunch
03/07/2018 at 18:12 |
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Also my concern! This space is not old or rundown enough for me to not give a shit, but too old for it to be problem free.
TheRealBicycleBuck
> Akio Ohtori - RIP Oppo
03/07/2018 at 18:13 |
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I met the guy that owns this:
Apartment/loft on the right, giant garage on the left. When I was there, he had a couple of project cars hiding inside. The only thing he didn’t have was a lift.
He LOVES his “house”.
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HammerheadFistpunch
> Akio Ohtori - RIP Oppo
03/07/2018 at 18:25 |
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have you looked into leasing or renting space? then your problems are their problems.
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Akio Ohtori - RIP Oppo
> HammerheadFistpunch
03/07/2018 at 18:55 |
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I’ve considered it, but not looked into it. My expectation is rent would be above and beyond ownership costs (naturally) for a wrenching space and I don’t like the idea of throwing money down the tubes. If it came down to needing to rent I could see going with a storage space, but those are also difficult to find.
Quadradeuce
> Akio Ohtori - RIP Oppo
03/07/2018 at 19:45 |
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So I own a 12,000 sq ft warehouse for my business. Make sure you would not need flood insurance for a loan. I know you might do a personal loan, but you never know when you might want a commercial loan. Currently flood insurance rates are increasing 15-25% each year. Do not deal with that mess, trust me. My warehouse is 7" in the flood zone and it costs me $2k per year for the highest deductible policy that just covers the building, not contents.
wafflesnfalafel
> Akio Ohtori - RIP Oppo
03/07/2018 at 21:05 |
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that space would make a nice local brewery... just sayin’
shop-teacher
> TheRealBicycleBuck
03/07/2018 at 21:13 |
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If I had stayed single, I was going to do this. I drew many plans for such a building.
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shop-teacher
> Akio Ohtori - RIP Oppo
03/07/2018 at 21:15 |
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I’ve been eyeballing some commercial spaces near my house for wrenching and storage purposes. Not that I’m anywhere near being able to actually do that, but I really like the idea.
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Akio Ohtori - RIP Oppo
> wafflesnfalafel
03/07/2018 at 23:31 |
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whynotboth.gif
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Akio Ohtori - RIP Oppo
> Quadradeuce
03/07/2018 at 23:32 |
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Good point!
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itranthelasttimeiparkedit
> Akio Ohtori - RIP Oppo
03/10/2018 at 11:53 |
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Ha same here. Wife won’t let me blow 2k/mo in rent/mortgage + utilities unfortunately. But 2nd business? no problem...