The next step?!

[Russ T.]

Mel and I (and Max) met with a gentleman selling a 2 acre plot of land in town today.

2 acres!

In town!

I think we are ready for this but it's a little scary. I've never done this before...

We are in no hurry but have come at the right time.

This particular plot is the largest (by double) and most prominent spot in a new industrial park in my town. It's on a corner that gets plenty of action.

Rug plant?

Wait until they get a load of us!

 

[ruff]

So, where on earth is Huxley, IA?

Go for it Russ and Mel. I am sure you two will make it work. And if Saiger is your business model, you two better get busy, cause the Saiger empire, is toddler work force driven.

 

[Desk Jockey]

Buy the land then investigate the prospect of a putting up a shop. Building is expensive but maybe you can build with the intent of leasing a portion to offset your costs.

Good luck!

 

[Spurlington]

Might wanna find out if they will allow your kind in the neighborhood first .. Good Luck !!

 

[hogjowl]

They let Chavez into Kansas.

Anything is possible.

 

[Spurlington]

Hahaha !!

 

[Spurlington]

Rode in on a tornado !!

 

[PrimaDonna]

Exciting stuff. Keep us posted.

 

[Lee Stockwell]

Most successful carpet cleaners end up making more retirement money from properties than from cleaning.

 

[Desk Jockey]

They let Chavez into Kansas.

Anything is possible.

Thats BULLSHIT!

I snuck in!

 

[Cleanworks]

Real estate is most always a good investment, especially for the long haul. If you can't afford a proper building, check steel buildings. they can be a lot cheaper sometimes. they will build to suit.

 

[Spurlington]

Could build out of straw ..

 

[Nate The Great]

@Desk Jockey got some unused land he's willing to sell also.... Buy high, sell low...Lockhart motto

 

[Russ T.]

Buy the land then investigate the prospect of a putting up a shop. Building is expensive but maybe you can build with the intent of leasing a portion to offset your costs.

Good luck!

Great advice. We don't NEED 2 acres....so I could potentially build on half of it and sell the other half in 5 years or so.

 

[Mikey P]

Do you already own a home?

 

[Russ T.]

Do you already own a home?

Yes....well the bank owns much of it .

We do have quite a bit of equity though. I really think we can do this!

I'm in nice, empty, and local homes a lot so the temptation has been to move into an acreage.

I've got a vision though.

We are going to stay put and finish raising the boys in this house. We are a block away from the middle school and rec center on one end of our small Main Street.

On the other end of Main is this plot. We will gain a face for our biz. Mel will set the tone around the office, and the Kid will take on a soldier or 2 in the field.

The real estate market is very strong in my little town...it's time!

 

[Mikey P]

Well, hell then..


Whats the question?

 

[Russ T.]

It does seem pretty clear. Even as a pure real estate move, I think this would be a good one.

I've grown kinda comfy in my current situation. I could ride this out for a long time but I wouldn't have much $ waiting at the finish line.

My challenge is turning something that is so heavily dependent on my own health and performance, into a valuable asset for our future. Something that would thrive....without me.

I love what I do so I'm not really looking forward to joining the rest of the retired fellas every morning for coffee at Casey's general store. But it would be nice to have some options!

Maybe we could sell the biz in 10-15 years?

Maybe one of my boys will persue a career, managing and driving what dad built?

I'm feeling pretty excited about this.

I'm going to have some practical questions about the building and land itself coming up.

We've got a long way to go but this looks like our "next step"!

 

[Willy P]

Rode in on a tornado !!

Chavez? Naw - shit out by a crow......

 

[clean image]

What is it zoned for?


I was interested in aproperty zoned light commercial.....they would not allow service business...

 

[Russ T.]

I'll be making some calls tomorrow but I think it will be fine.

 

[Jimmy L]

Population base?

 

[Cleanworks]

It does seem pretty clear. Even as a pure real estate move, I think this would be a good one.

I've grown kinda comfy in my current situation. I could ride this out for a long time but I wouldn't have much $ waiting at the finish line.

My challenge is turning something that is so heavily dependent on my own health and performance, into a valuable asset for our future. Something that would thrive....without me.

I love what I do so I'm not really looking forward to joining the rest of the retired fellas every morning for coffee at Casey's general store. But it would be nice to have some options!

Maybe we could sell the biz in 10-15 years?

Maybe one of my boys will persue a career, managing and driving what dad built?

I'm feeling pretty excited about this.

I'm going to have some practical questions about the building and land itself coming up.

We've got a long way to go but this looks like our "next step"!

This is a problem that has to faced by all owner/operators. What do I do when I can't physically clean carpets anymore. That day will come sooner than you think sometimes. I was just at one my suppliers cad and here were 3 of us all musing about the same thing. Nice to start planning for retirement before you have to retire.

 

[SamIam]

My father in law bought a hay and feed store the he has a banker for 25 years before he got in business for himself.

He's since passed and sold the business to another family member.

She owns the business, but rents the property from
My mother in law $4k a month rent it's in Agoura Ca.

That with IRA's and SS my mother in law has a comfortable retirement.

 

[Lee Stockwell]

If they pay the rent.

 

[SamIam]

My dad had a business doing 12 million a year never bought real estate. And is living off SS and $250 a month meat cutter pension, he only cut meat 16 years.

At 76 he's Ubering in Vegas avg $400 a week.

He's happy and comfortable but a few real estate moves and he would be real comfortable.

One commercial office he could've bought for $300,000.00 well worth over a million today. Brings in $6-7 thousand a month in rent.

 

[SamIam]

If they pay the rent.

My sister In law does, and her business makes her fat stacks.

 

[SamIam]

But I agree they gotta pay rent for it to work.

 

[Russ T.]

Population base?

I'm in a very small town Jimmy. Probably only 3K people here.

BUT I'm right between Ames (ISU) and Des Moines (state capital).

Our growth will be limited by the decisions we make rather than a lack of customers. I don't care about the competition either. We have a better product!

 

[Bob Pruitt]

Buying property you are going to work out of sounds like a good investment. I wouldn't sell the extra acre...lease it maybe. For most of us working for a living these investments are what we will have in the future. McDonalds has said they aren't in the hamburger business, they are in the real estate business. Best of luck!