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View Full Version : Gauging interest...


BreckBJ44
02-22-2011, 02:59 PM
So for those of us that do not have garages I have an idea...

I have a possible shop purchase in the works but can't float the whole thing by myself.

Specs:
~1450 Square feet with one high garage door and one standard entry door.
HIGH ceilings (I guess over 15 feet)
HEAT (good for next winter)
Bathroom and full plumbing for a possible shower.
Good lighting, plus lots of natural light.
Can be wired for alarm (to protect tools, etc.)

I haven't completely measured the space, but at least four cars can be permanently stored in the shop, maybe more... This is in addition to storing parts and tools.

So, how much would people be willing to pay to rent a space to work on their rigs and store tools and parts?

Let me know what you think and maybe we can get this all together.

K

MDH33
02-22-2011, 03:06 PM
Location, location, location. Where's it at?? :hill:

satchel
02-22-2011, 03:18 PM
It's a possibility for me. Price is relative on the details provided, let us know where it is and any other info. Seems like if you post up the purchase price then maybe we could see how many people are needed.

BreckBJ44
02-22-2011, 03:46 PM
Sorry... forgot a few things...

It is located north of downtown but south of 70 and east of 25.

I was more looking at buying it myself, but wanted to know if there was enough interest in people to "rent" or "sublet" space. If there is enough interest, that will dictate the terms of the setup, like how long will you need the shop, or if people are willing to sign up for the entire year...

I was also wondering what people would think a share of this would be worth... Obviously, I do not want to make $ on this so I am trying to gauge how many people I would need where all renters feel they are getting a good deal, and are not too crowded in the space... If I need 7 people to cover the costs, things might get tight and it may not be a viable property.

I am not trying to hoodwink anyone, but I just want to get an idea of what people can afford and if I can make it work... I hope I am being clear enough.

satchel
02-22-2011, 04:18 PM
My wife and I have been toying with the idea of moving downtown into a loft and one of my biggest deterrents is not having garage space to work on the truck. Should we decide to go that direction, this would definitely be appealing to me.

I still think the best way to see who would be willing is to put the price you are looking for per month down and then seeing how many people it would take to get to it, and hopefully that number of people is low enough that it makes sense.

BreckBJ44
02-22-2011, 04:42 PM
Okay, Okay... I get it... Jerry Maguire time... Show me the money...

So, the math comes out to somewhere around $150-250 a month for the place and basic utilities if we have around 5-6 people in. If we feel we can fit more, we can bring the price down a bit. I am just guessing on the utilities so this is just a guesstimate. Oh and I updated the first post with the info on ceiling height.

If you think we could go a little higher (closer to the $250-$300 mark), we can get a yard too. Or we bring in more people...

Cards are down... what do you think?

satchel
02-22-2011, 04:53 PM
I think for around $200 that would be reasonable for me. The problem is that you say 5-6 people with an estimate of 4 car spaces. That can be a problem. That's why I say just throw down the total you are looking for. It sounds like you are anywhere from needing $750 (5 ppl @ $150) to $1500 (6 @ $250). So if you are needing $1k to make this work, and you only have 3 maybe 4 extra car spaces, assuming you want one for yourself, then you would probably need $250 with 4 people buying permanent space to make this work. If that is somewhat accurate, then I may be interested in looking into it, when and if I move downtown. I guess what I'm saying is that I would pay maybe $250 for a permanent place, but not $250 for a place that has room for 4 cars yet 6 people are paying.

BreckBJ44
02-22-2011, 05:06 PM
The range is for the high end with 5 cars (1500sf can fit 5 or more, it's just moving them around that will be interesting). Around $1000 is a good estimate as I have only run the numbers on expected interest and utilities.

satchel
02-22-2011, 05:11 PM
Well keep me listed as a possible, largely depending on whether I move down there or not. If we do, it will probably be this spring/early summer. Sounds like the numbers could work for me though, assuming others are willing to chip in as well.

calphi27
02-22-2011, 06:20 PM
I am in, but just to be able to work over there. Is it fenced in or have any other security features?

BreckBJ44
02-24-2011, 09:50 PM
There is a chance to get a yard too that I will fence in. This will be next to the garage. I will run the numbers and see if things work out the way I want...

Oh, and with the tools and such being stored there, I will get a good alarm company to install and monitor. This was somewhat included in the $ I quoted above.

jacdaw
02-24-2011, 11:15 PM
Can I come down and drink beers until I find a new project to work on?:o

Inukshuk
02-25-2011, 01:03 AM
I could contribute the real estate lawyering.

DanS
02-25-2011, 01:34 AM
Why must you tempt me with such a thing? Must....save...every....penny....

Really, really good idea, for those who don't have shop space for whatever reason. Plus, if it's not just you working alone, you tend to get more done (at least, that's my experience). I wish I could get in on this, it would be WAY easier for me to work on the 45 if it wasn't 500 miles away.

Dan

BreckBJ44
02-25-2011, 08:30 AM
Coming for beers and a little back seat wrenching is free. Advice, though it may not be heeded, is always accepted. Also, short term projects could also be worked out for a "donation" to the cause... I think I will also open this up to people that just need a place to store parts or tools somewhere besides their place.. Obviously we would price accordingly.

@DanS: A 45 would fit perfectly and would look great next to my 44... Plus for your's and Timz fab skills, I may end up paying for a few months for both of you!

I'm in DC until later today... I will begin the pursuit and once I have some more info, will get a meeting together of all interested parties (or we can all make sure to make the march meeting and do a little conversing at the after-meeting).

If everyone is serious, I would love to get this going to give everyone at least a month before Moab to nail down some of those "I may not need to, but would love to" projects.

DanS
02-25-2011, 01:44 PM
Coming for beers and a little back seat wrenching is free. Advice, though it may not be heeded, is always accepted. Also, short term projects could also be worked out for a "donation" to the cause... I think I will also open this up to people that just need a place to store parts or tools somewhere besides their place.. Obviously we would price accordingly.

@DanS: A 45 would fit perfectly and would look great next to my 44... Plus for your's and Timz fab skills, I may end up paying for a few months for both of you!


{blush}

Seriously, I might be interested if you can get it together in doing the "short term project" thing. Since we're still saving like mad to buy property/build house/build shop it would be counterproductive to rent a shop full time for me, but it's also a pain to have to haul a truck down to NM and do my heavy maintenance there. Shoot, the gas to drive the 60 down to my shop there would pay for a full month so....

I'm really hoping there would be enough full time interest from people who need to store stuff and occasionally work on stuff, because I suspect I'll have a few "heavy" projects in the near future, but they'd be relatively quick projects. I'm out of the "anal retentive" business for a while--until we build a shop of our own up here at least...

Dan

BreckBJ44
02-28-2011, 01:36 PM
I like the way you think... that is why I am looking for a shop in town... I can bike there so that would be priceless...

I am going to talk to my RE guy this week so will have some more details shortly.

Also, ANYONE interested in this please post up so I can get a good representation of people interested. This includes small project, tool or part storage, and any other interest as I really would love to keep this in the club. I don't really want to have to rely on craigslist or other open rental situations. I know I have some $ in my tools and parts and don't want someone I don't really know around to play with my $#!t when I'm not there!

Thanks all! Heck, maybe we can do the wheel packing party there if I can get it all together.

calphi27
02-28-2011, 09:21 PM
what about bringing this up in the next meeting? maybe the club pays a portion of rent and its members get access to the property. just another perk of membership.

BreckBJ44
03-01-2011, 11:01 PM
Great idea. See you all tomorrow.

BreckBJ44
03-03-2011, 12:54 PM
I may have a change of plans, but it would make things a bit more cost effective...

I may divide the space and have two big deep bays and use the rest of the space in another way. IF enough people say they want in on the whole space that can happen, but with the current interest, I'd have to go for plan B...

Let me know what you all are thinking.

K