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Congratz!!!!!!:hello2:
Wish me luck, I'm about to buy a mini warehouse complex!!
- Thread starter YY1
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YY1
Well-Known Member
Thanks for everyone's show of support.
My project for today, Sunday of the Daytona 500 (one of the benefits?) of being your own boss, is to draft an intirum lease agreement to go out with the official change of ownership notice that includes who to direct future rent payments to.
I've got a lot of "fixing" to do on this, as all the previous bookkeeping as well as the leases were either oral or handwritten.
Are we having fun yet?
My project for today, Sunday of the Daytona 500 (one of the benefits?) of being your own boss, is to draft an intirum lease agreement to go out with the official change of ownership notice that includes who to direct future rent payments to.
I've got a lot of "fixing" to do on this, as all the previous bookkeeping as well as the leases were either oral or handwritten.
Are we having fun yet?
Finallygotmine
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Much good luck to you and fight for everything.
"There's nothing like being in business for yourself." You will find a good and bad meaning to that saying. LOL
Daryn
YY1
Well-Known Member
Quick update-
Just finalized my books for the first month of operation.
I lost one tennant because they thought they would be able to run an auto painting business without any booth or hazmat stuff. hated to do that, but gotta CYA.
Anyway...got four units empty (plus two I'm using), put up temporary sign with new number and prices.
So far no calls.
After paying bills and collecting all rent...made $65.
Also found out small units are actually 12x20 instead of 10x20.
That's a plus.
Considering I'm using two of the 12x20s and have three more available, plus a 20x20...
...I still say I couldn't have built a six car garage for my $26K initial investment, and I'm getting $65 a month to have it.
Just finalized my books for the first month of operation.
I lost one tennant because they thought they would be able to run an auto painting business without any booth or hazmat stuff. hated to do that, but gotta CYA.
Anyway...got four units empty (plus two I'm using), put up temporary sign with new number and prices.
So far no calls.
After paying bills and collecting all rent...made $65.
Also found out small units are actually 12x20 instead of 10x20.
That's a plus.
Considering I'm using two of the 12x20s and have three more available, plus a 20x20...
...I still say I couldn't have built a six car garage for my $26K initial investment, and I'm getting $65 a month to have it.
- Local time
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If you didn't have to back into the pocket,that's a good start!!Once you fill the vacancies you'll be doin OK:hello2:
BuckNeccid
Well-Known Member
I was thinking of moving to FL... any of those units come with a restroom or would I have to use an outhouse or corner of the building?
Congrats! Looks like you're whipping it into shape fast! I sure envy you.
Congrats! Looks like you're whipping it into shape fast! I sure envy you.
YY1
Well-Known Member
Thanks guys.
I moved to FL from OH in 88, and it was easier to find a job that wasn't fast food or roofing (no offense to roofers), or a union job that you had to be a second generation dues paying tradesman to get (again, no offense). Not so much any more.
Also didn't care for 8 months of cold weather, but that seems not to be the case anymore either.
(now THAT's wack!)
There is a restroom, but it's "at your own risk".
I moved to FL from OH in 88, and it was easier to find a job that wasn't fast food or roofing (no offense to roofers), or a union job that you had to be a second generation dues paying tradesman to get (again, no offense). Not so much any more.
Also didn't care for 8 months of cold weather, but that seems not to be the case anymore either.
(now THAT's wack!)
There is a restroom, but it's "at your own risk".
YY1
Well-Known Member
Update- I rented my first unit on my own yesterday:headbang:
I put up a CL ad last Thursday, and I've had three calls and this one sale.
It's a car guy, too.
Cavalier Z24 vert, and they are doing some light repair work on it.
Stoked!
I put up a CL ad last Thursday, and I've had three calls and this one sale.
It's a car guy, too.
Cavalier Z24 vert, and they are doing some light repair work on it.
Stoked!
69clone
Well-Known Member
Congrats! Just read through all of the post sounds like a pretty easy business? I was actually considering buying and building a storage place by my grandparents. A very high demand for storage units in their town. Therefor the owners raised the rent and they still have a waiting list!
YY1
Well-Known Member
We're on the verge of being overbuilt around here.
None of the others are "car friendly" though.
Within 3 miles-
The next closest place requires proof of registration and current insurance.
That sucks for long term projects.
The 2nd closest does not allow any work other than washing and VERY minor stuff and has limeted access, in addition to the above.
The 3rd closest does not allow any work of any kind as well as registration and insurance.
All of the others that I am aware of in a ten mile radius fall into one of those categories.
You really gotta factor costs into building one.
Simply adding up the cost of the roll up doors alone can be staggering.
The home quality ones I installed in my Carolina Carport were $700 each.
Comercial quality wind rated ones started at $1000.
next time you drive by one count the doors and multiply by 1000.
Then think of the buildings, the pavement and the grading, etc.
I've got a few hours in it especially on Sat/Sun.
It's manageable, though.
Also that sale started on Saturday and completed on Sunday.
I don't mind doing that, especially on my schedule.
None of the others are "car friendly" though.
Within 3 miles-
The next closest place requires proof of registration and current insurance.
That sucks for long term projects.
The 2nd closest does not allow any work other than washing and VERY minor stuff and has limeted access, in addition to the above.
The 3rd closest does not allow any work of any kind as well as registration and insurance.
All of the others that I am aware of in a ten mile radius fall into one of those categories.
You really gotta factor costs into building one.
Simply adding up the cost of the roll up doors alone can be staggering.
The home quality ones I installed in my Carolina Carport were $700 each.
Comercial quality wind rated ones started at $1000.
next time you drive by one count the doors and multiply by 1000.
Then think of the buildings, the pavement and the grading, etc.
I've got a few hours in it especially on Sat/Sun.
It's manageable, though.
Also that sale started on Saturday and completed on Sunday.
I don't mind doing that, especially on my schedule.
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