Thinking about buying.........

DeckedoutF150 · #1 (**permalink**) 11-09-2004, 10:27 PM

ok guys heres the deal. i know a guy thats a mechanic and is thinking about retiring. well he wants to sell his place he owns. its a 4 bay gerage with 2 lifts and a 180 gallon air compressor. i dont know what all tools he is thinking about taking. i know his hand tools for sure but i dont know about what else. there is also another littler gerage off to the side (thats where i have been doing my auto painting) its a small 2 car gerage. the guy wants about $250,000 for the land and everything. i see it as a place i could do ALOT of stuff out of. my big thing is is there any government grants i can get?? i know a loan is a option but i keep hearing about these grants. i also have a couple guys that are willing to go in with me on it. the main gerage is set up great. theres even enough room for me to install a paint booth. what do you all think?? any advice or info on the grants?? if i run a bussiness out of there is there waht can i write off my taxes??

thanks for any info!!

Nick

phatcracker · #2 (**permalink**) 11-10-2004, 08:27 PM

I had this big reply all typed out

and then I hit something which made it all disappear.

In short

Grants are hard to get. Plus you will not get the full $250,000 in one grant. Maybe 10%-20%. You may concider going non-profit and doing community service.

If the place doesn't have a paint booth it now or was used as a body shop, it will be expensive to put one in. Darn EPA.

Taxes; get a good book keeper and a tax preparer or a CPA you can trust.

U.C. has Small Business Classes for little money. You may want to take one. I did, it tot me alot

Eric

rywegh · #3 (**permalink**) 11-11-2004, 05:14 AM

You could rent space out on the weekends to your fellow FTE buddies who are lacking garage working area...hint, hint.... good luck if you pursue this..

DeckedoutF150 · #4 (**permalink**) 11-11-2004, 10:45 PM

Quote:

Originally Posted by rywegh

You could rent space out on the weekends to your fellow FTE buddies who are lacking garage working area...hint, hint.... good luck if you pursue this..

lol, i might not rent it to you but i would help ya work on stuff, it would be fun. if this is not a go on buying that place my aunt said she would let me build a big pole barn in her back 40. i could put a booth in the or build my own and i could always pour the concrete thick enough for me to install a lift. so that is another option also.

rywegh · #5 (**permalink**) 11-12-2004, 10:44 AM

are you thinking about having a pouring party...or a barn raising party. If you do this I could probably make the time to come up and help on a weekend or two. Would anyone else be willing to join up and help out?

DeckedoutF150 · #6 (**permalink**) 11-12-2004, 10:04 PM

i am checking on ways i can get the money to do either one. as soon as i can figure it out i will be ready to go on this.

biggieou · #7 (**permalink**) 11-12-2004, 10:09 PM

Id come and help drink beer(my own special form of pouring!)

LxMan1 · #8 (**permalink**) 11-12-2004, 10:16 PM

What about that Wierd guy on TV that always weird thar jacket with all of the question marks all over it? He says that the government is giving away all kinds of money.

DeckedoutF150 · #9 (**permalink**) 11-13-2004, 10:38 PM

i have been thinking about buying that guys book. as a matter of fact i think i am going to buy it this week. i have read up on things people have to say about his book and its all been pretty good stuff.