47% rent increase, thank you new owners. - Page 3
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  1. #41
    Join Date
    Apr 2001
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    tucson arizona usa
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    I moved out of my garage into a rented space and within the span of one year the rent doubled. I quickly realized that the land lord thought I would stay because my equipment was so heavy and all the money I spent on the electric upgrade. I found a building cheap but I couldnt get a loan from a bank. I tried all sorts of crazy schemes to raise the money. No bank would lend. I met a guy I call uncle john, he was a hard money lender. I borrowed 120 grand at 20 percent interest. That was the best money I ever spent I paid it back in 5 years. Owning my own building free and clear changed my whole business. We bought the building next door using a paypal loan, and I got another warehouse a few months ago to store inventory. If you can own the building it will change your life.

  2. #42
    Join Date
    Sep 2012
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    California, Ventura county
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    if only you could get a building for 120K.
    would need to be more like 1.2 million

  3. #43
    Join Date
    Jul 2008
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    UNITED STATES
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    South Carolina
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    Quote Originally Posted by Larry Dickman View Post
    I would move to a rural area in a heartbeat if I could get the power. No 3 phase on the ranch.
    No doubt that's insurmountable......

  4. #44
    Join Date
    Aug 2010
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    Medina OH
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    I learned my lesson early, I felt like I was working for the landlord.

    I can't get 3-phase here, not affordable anyway, $28k-$36k.

    If you have finicky CNC's, Phase Prefect sells some BIG units. Otherwise a rotary.

    I built a really nice 1000 sq ft shop for $68k. I made a 10yr ish commitment to myself, but if business outgrows it, I'll build or buy a bigger shop.

    A business mentor of mine, when he started, bought a large building, much larger than he needed. He divided it into 3 units. The other two units paid for the building and now pay for maintenance, taxes, and his retirement.


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