Renting a shop?

[doogievlg]

My friends got inventory has outgrown his home garage. My toys are currently still stored in my dad's garage. We both figured it was time to move to bigger and better things. We have been checking out shops and warehouses for rent recently and was just curious if anyone on fabo is renting a shop or has rented a shop in the past?

 

[Downtime!]

I had one up until two years ago. 1200 sf with electric and water. Had been in it for about 10 years before the owner sold the property. Rent went from $300 to $600 overnight. Several of us moved out at the same time.

Looking again, and in this area at least, 1000-1100 sf is going in the $400 range again. All have electric and water, several have full restrooms.

 

[NodakDuster]

I rent a commercial space with heat, a bathroom, and a small office, plus some overhead storage, five outside parking spots with 3 1/2 bays for $1200 a month. I can write it off due to I use it to work on my company vehicles. Below are a few photos of it.

 

[Oklacarcollecto]

I have been on both sides of the coin. My business outgrew my space so I rented additional space for the overflow. All I was seeing was a stack of rent receipts that was gaining no equity so I solved the problem and built a new building that was tall enough to add a second story inside. My payment was cheaper than I was paying in rent. Added the second story and outgrew that too. Bought an acreage that had another small building to handle the over flow and added semi trailers to for even more storage.

I had the new pad done at the acreage to build a much larger building and before I actually started the building I decided to sell the company as long as it left the area. I rented both buildings and the acreage then watched the money flow in.

If it is possible you should consider building/buying your own building and leasing out part of it to cover most of the payment. Buildings in my area are hard to come by and the rent isn't cheap but if there is cheap rent in your area it might not be worth it.

 

[doogievlg]

Right now I'm not in any position to buy property and build. My friend is kicking around that idea and mentioned it to me but I'm not a big fan of making a huge move like that with a friend. We are great friends and have loaned each other money in the past but I have seen friends go into ownership together and things get ugly. We found a shop near our houses that are 20 by 40 for 400 a month it has electric as well. We are going to check it out this weekend.

 

[67Dart273]

Find an old lady in your neighborhood who's husband has died or is too old and rent theirs

Find an aging farmer who's about there on retirement and rent a shop from him

Me? I just work out doors, LOL. Come to think of it, I'M getting too old for this XXXX

 

[doogievlg]

My friend has a boat a rzr a motorcycle a truck and a car and a one car garage and car port. I've done just about all there is to do to a vehicle while laying on a gravel driveway.