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Now to convince my wife


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#1 toomanytoys84 OFFLINE  

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Posted December 07, 2015 - 04:27 PM

I am always browsing stuff.  Craigslist, property, houses, cars, boats, ect.  Always looking for a deal. 

 

I personally believe I have stumbled across a gold mine.

 

A nice catholic church built in 1947, and the priest's Home(sorry if this is the wrong term) that is a 4 bedroom 3 bath, brick house.  This is all sitting on 24 acres. Under 150k cost.  No one wants to buy a church.

 

Now the two sit apart by a few hundred yards.

 

Now I went and looked at this place on my lunch break today. 

 

The house part is great, nice bedrooms, clean, well taken care of, everything is the old beautiful hand cut trim.

 

The church is beautiful.  Stained glass windows, gorgeous arches, and design work.  The downstairs is a LARGE kitchen and rec room.

 

My mind is reeling, renting out for birthday parties, weddings, receptions, whatever you want!  The money could ROLL IN! 

 

I even went this afternoon on my way back from lunch making phone calls about what it cost to rent places for 2 or 4 hours for birthday parties.  They were basically 100 an hour plus "fees"  Receptions were more.

 

2 or 3 birthday parties a weekend at 200-400 a pop, the money would roll in!

 

Now I need to convince my wife who has no vision.....

 


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#2 637Yeoman OFFLINE  

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Posted December 07, 2015 - 04:31 PM

Why is it so cheap?

Maybe they know something...


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#3 toomanytoys84 OFFLINE  

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Posted December 07, 2015 - 04:38 PM

Why is it so cheap?

Maybe they know something...

 

350k in my area will buy you a 3000-3500 sq ft house

200k in my area will buy you a 2000-3000 sq ft house

100k in my area will buy you a 1000-2000 sq ft house

 

Basically factor in lot size and location in those ranges and the prices will go up or down.

 

I've seen 1500 sq foot houses on a postage stamp lawn for 50-80k  I've seen 1500 sq foot houses on 5 acres for 150k. Just all depends on where you are at. 

 

Gotta remember my area has been hit HARD by the EPA regulations at the coal mines, hit hard by the import steels and regulations.  Jobs are at an all time low in my little spot of the world.

 

It's been on the market for 2 years.  The realtor says it has been showed 100s of times but no one will commit to buying  an old church.


Edited by toomanytoys84, December 07, 2015 - 04:40 PM.

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#4 Eric ONLINE  

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Posted December 07, 2015 - 05:12 PM

You may not be thinking of the whole picture, I mean insurance for event locations is outrageous! Also the lawsuits you may face when someone trips and stubs a toe could end any dream of the good life. Also you must consider that a commercial property attached to your residence opens up the window for your personal property in those lawsuits! Not to rain on your parade but our wives sometimes think alot farther ahead than we may. Just some thoughts.
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#5 Oldford OFFLINE  

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Posted December 07, 2015 - 05:20 PM

Not sure what part of ohio, recently a list came out, Cleveland was the "most affordable" city at $63k/average house price.  Whereas 5 of the top 10 most expensive cities were in california... $1M/average home price... that i don't understand, entire towns of million dollar homes average.

 

I've seen a couple old churches in New Mexico being lived in, like 2-300 years old, adobe with log vigas sticking out the wall ends, cutouts for statues on the outside, seemed like a neat idea.


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#6 HANKG ONLINE  

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Posted December 07, 2015 - 05:45 PM

The priest's home is called a rectory. I've been in churches that were turned into restaurants and are very cool dining experience.

Edited by HANKG, December 07, 2015 - 05:45 PM.

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#7 KennyP OFFLINE  

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Posted December 07, 2015 - 06:15 PM

Just think of the GT space that would have!


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#8 Kurtee OFFLINE  

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Posted December 07, 2015 - 06:26 PM

do you get the cemetery too? :wave:  :dancingbanana: Lots of possibilitys with a well built structure. There is one in my town that is converted to apartments. Personally if I could swing it I would live in the Rectory and use the church for storage or shop maybe. The hospitality business is a challenge. Better yet start your own church and be tax exempt. Oh yea, do need to be celibate living there?


Edited by Kurtee, December 07, 2015 - 06:27 PM.

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#9 tater195 OFFLINE  

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Posted December 07, 2015 - 06:33 PM

around here they turn ex- churches into bars and ex-bars into churches. I dont get it :wallbanging:


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#10 boyscout862 ONLINE  

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Posted December 07, 2015 - 06:34 PM

A collection of GTs in a church means that it has gone from a hobby to a religion. I wonder if it would be tax free?

 

The liability would make it not worth it. Eric is right. You might be able to subdivide the property so that the church could be rented to a business but you also need to be carefull about land use laws and if there is any hidden problems with the land. Be very skeptical about all land offerings. As a town engineer, I saw all kinds of tragic problems when people believed unscrupulous realators. Good Luck, Rick


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#11 toomanytoys84 OFFLINE  

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Posted December 07, 2015 - 08:10 PM

You guys raise some interesting points. I could turn it into a huge museum for tractors.

I'm not looking to get rich off any parties. Just kind of excited at the idea that I'd have a whole other building that I could do so much with. It's a shame its not a church anymore. That Catholic church has closed several in the area and sold them.

Still like the deal. I want the wife to look at it

Edited by toomanytoys84, December 07, 2015 - 08:35 PM.


#12 David Brown OFFLINE  

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Posted December 07, 2015 - 08:21 PM

You may not be thinking of the whole picture, I mean insurance for event locations is outrageous! Also the lawsuits you may face when someone trips and stubs a toe could end any dream of the good life. Also you must consider that a commercial property attached to your residence opens up the window for your personal property in those lawsuits! Not to rain on your parade but our wives sometimes think alot farther ahead than we may. Just some thoughts.

Eric brings up some very good points.  What you also need to consider is the needs of your area.  If it is as depressed as you say, a party place may not be the answer.  You may do better looking for more permanent tenants like, say, doctors offices.  Get free check ups as part of the rent or something.  Heck, make the church the office building and rent out the house, then build what you want eventually or use it as your retirement.  Even in a depressed area, there are many possibilities.  Sometime you just have to think outside the box.  Good luck with what ever you decide.


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#13 adamjd200 OFFLINE  

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Posted December 07, 2015 - 08:52 PM

around here they turn ex- churches into bars and ex-bars into churches. I dont get it :wallbanging:

Thanks, I needed that laugh.



#14 IHCubGuy ONLINE  

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Posted December 07, 2015 - 09:13 PM

The priest's home is called a rectory. 

It's interesting to see how people from different places call things different names.  Here we would call it a parsonage.

 

 

I would take extreme caution like the others have said.  You need ALL the information on the property before ANY transaction.  What are the zoning requirements in your area?  How is the property currently zoned?  Can it be changed to fit what you want to do?  Do you even have any zoning in your area?  What is the market demand for the business you are proposing?  All things you need to answer.  I can see you are excited about the price, but make sure you put that excitement aside and look at the whole picture with a level head.  Good luck with whatever you do.


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#15 Cat385B ONLINE  

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Posted December 07, 2015 - 09:44 PM

Rectory: Catholism
Parsonage: Protestant
Manse: cheap bass turds made me get my own place
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