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Am I not smart?

Spittingchips

New member
Hey folks so recently I posted asking about small shops and anyways it looks like im about to pull the trigger on a 1650sqft shop with 30 foot clearance. If this goes through I am selling my house thats almost paid off and basically going to live in this shop and purchase 2 machines that I haven't figured out yet. The good news is the shop is paid off , the bad news is im homeless and the shop is new but small and it is only roughed in with plumbing and I gotta run electrical a compressor, build a bathroom and a room to sleep. Apparebtly this industry is a dead end for young guys like me looking to start a buisness and I am going to be working for no more than I would have as an employee. I have confidence in my abilities and my know how to get work but it is nearly unanimous from shop owners in this industry that I may have ruined my pretty good life. Im seriously asking because this is almost certain at this point and will be in 3 days did I just make the dumbest decision of decision making for 30 some year olds? And is there any advice you could give to a North American machinist who would take this risk and throw away a more than stable life style? Any advice is appreciated at this point it is very real to me and I can't tell if I have courage or I am completely brainless based on the advice I've gotten the last 10 years. Thanks
 

Rob F.

Active member
First glance it sounds like a bad idea. Can you borrow money against the house to have enough to buy your machines and a downpayment on shop? Then rent the house for money enough to cover the new payments?

Second living in the RV, you can always park it inside the shop where it would be warmer and also less visible.
 

DanASM

Member
The main goal when purchasing a home is to get it paid off as fast as you can and never ever lose it. Homes rise in value and will make money by just sitting on it.

Now you are going backwards and "hoping: things will work out. It just might work out fine. I am thinking you do not have a wife and kids yet. If you do this you will not have a wife and kids for a long time. You will have no time for yourself anymore and will be all business all the time.

Now if this is what you want to do than go right ahead and do it. It can be the best way to start a successful company. Just understand you will be giving up on a lifestyle that most try to achieve to get to. You might regret a lot of things about this but then again you may not.

I wish you the best of luck.
 

DanASM

Member
Winters in Ontario CA would be nice in an RV (not). I see people around here letting relatives live on their property in an RV. When winters happen they are all surprised how bad RV's are in the winter.
 

woodsrider845

New member
To answer your question, yes. As stated above, a paid off home is the bestestest thing, ever.
You have equity. Use it to your advantage to move forward, not backwards.
 

Thunderjet

Member
You are a lot braver than I am.

If you believe in your talent and drive, then I say go for it, as long as you have the work to fulfill the demand for income.

Either way, you will always have your trade and talent to fall back on.

Good luck.
 

Screwmachine

Active member
You didn't seem to listen to the advice in your other thread, now you're looking for what exactly? To answer your question, it would seem to be "yes".
 

wheelieking71

Active member
I agree on getting a camera, and documenting the journey. It could turn in to a good youtube channel.
Lots of people love to watch stuff like that.
Without knowing values and locations on the house and shop there is no way to know if this is a financially sound decision.
As far as being "homeless": what single 30 year old dude wouldn't LOVE to live in a machine shop?
 

Thunderjet

Member
As far as being "homeless": what single 30 year old dude wouldn't LOVE to live in a machine shop?

I know what my first purchase would be (after the machines that actually make money for you) A good tig welder.

Then an ample supply of chrome molly tubing for my "personal project". Probably a dirt midget race car.

After that, a handy supply of sleeping pills, because I would never get any sleep.
 

Bill D

Active member
If the shop is in town many towns have zoning laws that do not allow anyone to live in the area.
Bill D
 

Conrad Hoffman

Active member
I knew a guy with a shop and an RV parked outside. It worked for him but I sure wouldn't want to live that way. You probably can't get a certificate of occupancy for a shop, though I don't know if you need one. It's a dumb idea if you don't have a long term plan. Maybe smart if you see a way forward in a year or two.
 

TheBigLebowski

New member
I agree on getting a camera, and documenting the journey. It could turn in to a good youtube channel.
Lots of people love to watch stuff like that.
Without knowing values and locations on the house and shop there is no way to know if this is a financially sound decision.
As far as being "homeless": what single 30 year old dude wouldn't LOVE to live in a machine shop?

Agree with this - would love to see progress pictures. One of my former coworkers managed to buy a small building that has zoned livable apartment upstairs and a shop space downstairs, I've always been a bit jealous of that, I'd love to find a similar setup someday - pack it to the brim with WEDM's so they can run silently all night.
 

ripperj

New member
I’m betting the dudes trolling, nobody starts a thread asking for advice, gets 160 replies (the majority telling him to keep the house and current job) and then starts another thread saying he’s ignoring all the advice and asking if he’s stupid

I’m going with yes to the OPs question


Sent from my iPhone using Tapatalk Pro
 
I knew a guy with a shop and an RV parked outside. It worked for him but I sure wouldn't want to live that way. You probably can't get a certificate of occupancy for a shop, though I don't know if you need one. It's a dumb idea if you don't have a long term plan. Maybe smart if you see a way forward in a year or two.

Most places you aren't allowed to live in an industrial building, but there are plenty of places you can get away with it. I have seen multi unit industrial parks where a lot of tenants use their parking spaces to store boats, campers, etc, and no one cares. If you are a machine shop owner of any size and never committed a building code violation, raise your hand. Pretty sure more than 50% of us are guilty, I know I have been.
 

hanermo

Active member
IF the OP plan is true ..
it´s a great idea.

You can potentially start making good to great money - given skills and hustling to sell your work.
And that you can seemingly afford to buy 2 machines and all the associated support kit for them, about 20-30k$ worth of it.

Shelves, saw, vibrator, media, rollers, stacker, plus tooling in iso 30 tools, collets, toolbits, carbide, etc etc, measuring equipment in micrometers etc.

The tooling and carbide and metrology costs about 10k, bottom shelf chinese, mini-basic barebones.
Not being negative.
Being business-oriented.
A decent import chinese setup costs about 20-30k,depending.
A good iscar setup will cost about 100k.

IF You are able to setup 2 machines, ancillaries, tooling, basic metrology, you should easily clear 10kplus per month in services at around 50k$/hr, preferably 70.

Everybody else aka competitors needs to make payments on the 2 machines, and their home, and/or a helper.
Thus the minimum rate per hour tends to be around 60, hidden however.


IF You think You are gonna ghost at first without the supporting stuff -- You are like many oldtimers here and are looking at a world of hurt with very very low chance of success.

Making a machine shop is an excellent idea and a decent business- given some tiny capital and skill and experience.

You are competing against the smartest people in the world, with multi-million budgets and tools and downstream pipelines. Plan accordingly.
 

wheelieking71

Active member
I will only add this:
The single most important move I have made with my business was making its location, and my homes location, one and the same.
I know this will/does not work for everybody. But, for lots of others, it is the key to success.
If this guy is not trolling, and location dependent, at 30 and single, trading his house for a shop could be a brilliant move people!
 








 
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