Just bought my first warehouse. 50,000 Sq Ft.
What should I do? rent it out or use it for ecomm companies. Need some Help.
9 comments
Lease it to someone who knows what to do with the warehouse.
The first thing I think with "cheap <industrial>" is "superfund". I hope no one ever did any work with electroplating, pharmaceuticals, pesticides, VOCs, asbestos, explosives, PCBs, or any other fun stuff that will come back to haunt the current owner.
Agreed. Hopefully, OP got the inspection and testing done before buying the warehouse. Also the purchase agreement doesn't absolve previous owner of any previous environmental contamination and cleanup costs.
Could you walk through a bit, your thought process, on buying a warehouse, for instance why you decided to purchase it?
Got it at a great price... A very great price :)
But to what end? If I could buy a brand new dump truck for $1000, does that mean that I should?
I suspect you already know the answer to that. A brand new dump truck would be clean, with a minimum of oil, grease, dirt, or grime. I'm sure you could construct a large enough accommodation inside the bed of the truck to have the equivalent living space of a medium sized sailboat.
The great part of this is, when all of your clothes smell like diesel/gazole/etc., people will assume you are a liveaboard!
You would have excellent security. If you had a "home invasion", a simple press of a button would disorient your attackers and incapacitate them much in the way of the wicked witch of the East. If they have ruby slippers, I believe they would be yours by right of conquest.
Also, you could park almost anywhere you liked, at any time. No one questions a dump truck being anywhere, because they have so many uses. With a prudent selection of magnetic door logos, you could park for a nap in the middle of Market Street in San Francisco, Fifth Ave in NYC, or right in the middle of Piccadilly Circus.
The great part of this is, when all of your clothes smell like diesel/gazole/etc., people will assume you are a liveaboard!
You would have excellent security. If you had a "home invasion", a simple press of a button would disorient your attackers and incapacitate them much in the way of the wicked witch of the East. If they have ruby slippers, I believe they would be yours by right of conquest.
Also, you could park almost anywhere you liked, at any time. No one questions a dump truck being anywhere, because they have so many uses. With a prudent selection of magnetic door logos, you could park for a nap in the middle of Market Street in San Francisco, Fifth Ave in NYC, or right in the middle of Piccadilly Circus.
Gold!
Yes. There are many uses for dump trucks and you would quickly get back your initial $1000, and any other costs such as storing it between jobs, servicing it, and so on.
If you don't know what to do with it, and you bought it below market, just sale it for market price, book the easy profit and move on.
that was my first thought, too. why buying it when not to know how to use it!?
nevertheless: start a big coworking space :)
nevertheless: start a big coworking space :)
Ask BiggerPockets.com, they would know more about best use of real estate than Hacker News.
Depends a lot on the location!
Where are you? If you are in the sfbay area, I may have a suggestion.
So you bought something without really thinking it through.
GOOD WORK!!
If I were you I would look at increasing its value then selling it on as quickly as possible. You obviously dont have the vision or mentality to be an entrepreneur.
GOOD WORK!!
If I were you I would look at increasing its value then selling it on as quickly as possible. You obviously dont have the vision or mentality to be an entrepreneur.
Where is it?
where is this located?