I have considered, also, the idea of combining this venture with a space rental
arrangement to allow specific project work for set lengths of time. That is,
essentially offer the facility for a short term rental, hours or days, to
someone
who otherwise doesn't have the means to work on the car. This could be anything
from an oil change to a reconstruction. But that is even more difficult to
price. Being as cheap as I am, I can't even imagine what I would part with for
the privilege of working on my car in a dry and warm location.
A building I'm looking at is 2800 square feet with three garage doors, solid
floors and well configured space for just under $185k. Doing the math makes
most
of my ambitions here seem implausible.
Meanwhile, I am renting a building that I describe as "dead" storage for less
than what taxes and insurance would be on the above, although it is smaller
19x60. And when I refer to "dead" storage, I'm talking about merely a parking
and storage place, not work space. My space is always filled, but not always
with the same cars. Things rotate through, including for which car I want to
drive some particular weekend.
Jay Fishbein wrote:
> In my case I use it for non-running cars that I don't have space for at
> home and that have no business being out in the elements.
>
> Another alternative for Jim to consider is renting out space for owners
> to use to also work on their cars. The space would be worth more, but
> comes with the caveat that the space is no longer your own and you need
> to be able to trust your garage-mates. If it's friends that one thing,
> but if you're going to try to rent to strangers, that's a whole other
> ballgame.
>
> --
>
> jay fishbein
> wallingford, ct
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