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Business is getting bigger (New Building)


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#1 Reed Breneman OFFLINE  

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Posted November 05, 2017 - 03:25 PM

I met and first talked with the guy who owns this building in july to see about a real estate auction.He had to think about it and we kept in contact,He lives in california and doesnt get here very often and has tried renting it our without much luck at getting paid.I made an offer to buy it and he declined,I wanted it because it is directly straight across the street from my other commercial building with the small engine shop in it,I was thinking part storage part sales floor for my used mowers and tractors chainsaws ect and my wife wanted part of it to sell antiques out ofIt also has an upstairs for storage .We buy and sell lots of them.Well here a couple weeks ago he called me and accepted my offer and terms so we bought it!This will be a huge problem solver,The small engine business is going real well but storage of customer machines is a problem,I wont let them sit outside in case of sticky fingures or some other damage.So every day we play musical mowers and I have several stored at my house in the garage :( Heck I can always put a resterant in it if all else fails!!I paid $10,000 for it which was under market a ways so should be fine if I ever need to sell it,That currently is a $100 per month payment The building is its own colateral so no worries there with no penalty for quick pay off 

 

Its definately big enough for anything,I have 5 trailers that sit out right now ,Finally some can sit in out of the weather

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#2 Bolens 1000 ONLINE  

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Posted November 05, 2017 - 03:28 PM

Seems like a good deal to me!

How old do you figure that building is?


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#3 Reed Breneman OFFLINE  

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Posted November 05, 2017 - 03:30 PM

Seems like a good deal to me!

How old do you figure that building is?

Its an old brick one but in real good shape,Roof is good walls and floor are sound.Its an oldie probably early 1900:s


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#4 KennyP ONLINE  

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Posted November 05, 2017 - 03:40 PM

Nice addition to the business!


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#5 wilberj OFFLINE  

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Posted November 05, 2017 - 03:54 PM

Always nice to have room.    I tryed to put my hands on a building in town that was 40x110 but I got out bid.  


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#6 Reed Breneman OFFLINE  

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Posted November 07, 2017 - 10:25 AM

Now if I could just get the renters out it would be great :mad2:   Some people rented the building from the p,o and their time was up nov 4,The p,o,told me to do what ever I wanted there They havent paid him the rent for storage yet. so I contacted the people.They are just storing some stuff(Mostly house hold junk) till they can get it in an auction somewhere.I told them I would allow them a small part of the back of the building for a short time ,They are thinking a month or two yet(I was thinking 2 wks tops)or may have to wait till spring,,,,NOT HAPPENING and we havent talked about rent yet The P.O. told me they never set a rent rate for them to pay ,Just what ever you think its worth kinda thing but it was only till the 4rth of nov. ,Kind of friends of friends of friends,,,,,I dont want to really rent it to them or give them anything to use in court if things went sour.So here I sit.................Waiting,,,,,,,,, :wallbanging: I am thinking if no word or action by the end of the week I will contact them and tell them they have 48 hrs to remove their crap They have no paperwork or contract of any kind,One thing I am afraid of is the stuff in the building thats left wouldnt even pay for the dumpster to clean it out They already hauled off the good stuff for an auction.The building was FULL now its about a 20 yard dumpster of junk left,I may end out stuck with the mess :mad2:  :mad2:  :mad2:  :mad2:  :mad2:  :mad2: 


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#7 Cvans ONLINE  

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Posted November 07, 2017 - 11:18 AM

Nice purchase but it's unfortunate that it came with some bad luggage. I'd find out where they live and deliver the stuff to their front yard. For free  :D


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#8 Reed Breneman OFFLINE  

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Posted November 07, 2017 - 04:26 PM

Nice purchase but it's unfortunate that it came with some bad luggage. I'd find out where they live and deliver the stuff to their front yard. For free  :D

It may come to that


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#9 Cvans ONLINE  

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Posted November 07, 2017 - 08:45 PM

It may come to that

 

:thumbs:


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#10 Cat385B ONLINE  

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Posted November 08, 2017 - 12:03 AM

How many square foot is the building?
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#11 Reed Breneman OFFLINE  

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Posted November 08, 2017 - 09:52 PM

How many square foot is the building?

Off the top of my head its 30 ft wide by 60 at least,I really need to measure it out,I actually think its a bit longer,Due to the placement of the wall its wider inside the building then it looks if that makes sense,Its more then 20 ft to the ceiling and it has those old stamped tin ceiling tiles in it and they are in good shape,Heck with the price we get for those tin ceiling tiles I could remove them and pay off most of the building!


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#12 Cvans ONLINE  

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Posted November 09, 2017 - 01:22 AM

Heck with the price we get for those tin ceiling tiles I could remove them and pay off most of the building!

 

I'd sure be doing it and then lowering the ceiling to reduce heating cost. And then I think a hoist would be nice so maybe the high ceiling might not be a bad idea. Is there a basement under it?


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#13 Reed Breneman OFFLINE  

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Posted November 09, 2017 - 04:23 AM

I'd sure be doing it and then lowering the ceiling to reduce heating cost. And then I think a hoist would be nice so maybe the high ceiling might not be a bad idea. Is there a basement under it?

Nope ,No basement ,The floor was poured when concrete was cheap its about 12 in thick,That I do know ,All those buildings down town like it have a floor like that,,No cracks in it either!I had a real hard time last saturday not bidding on a 2 post car hoist we had at the sale I was working .New in the box and it only brought $425,They usually bring around $1000 when we sell them.I will have to watch the next one sell at our next auction dec 28.If I would buy one that means the small engine shop would definetly be moving across the street!


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#14 Jazz OFFLINE  

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Posted November 11, 2017 - 11:47 AM

Looks like fenced lot next to building. Is that part of the property?  $10K is cheap, great deal!


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#15 Reed Breneman OFFLINE  

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Posted November 11, 2017 - 10:24 PM

Looks like fenced lot next to building. Is that part of the property?  $10K is cheap, great deal!

No I wish it was though






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