1. Welcome to PlowSite. Notice a fresh look and new features? It’s now easier to share photos and videos, find popular topics fast, and enjoy expanded user profiles. If you have any questions, click HELP at the top or bottom of any page, or send an email to help@plowsite.com. We welcome your feedback.

    Dismiss Notice

Rent or buy?

Discussion in 'Business Fundamentals' started by vlc, Jan 24, 2014.

  1. vlc

    vlc Senior Member
    Messages: 636

    I have a landscaping company that is growing rapidly. I am running out of room to store all this stuff at my house and need to start looking at other options. What do most of you guys do? Rent a place? Or buy property? Pros and cons of each? Thanks!
     
  2. vlc

    vlc Senior Member
    Messages: 636

    No advise on this?
     
  3. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Whats your wallet like first?
     
  4. horizon jay

    horizon jay Member
    Messages: 99

    My wallets empty and I have the same problem! So I have a found places that I store equipment trailers etc at and trade them maintenance (mowing, mulch etc) as payment. I have done this with a few diff people over the years and it works. If you don't know anyone with land put an ad on Craigslist and you may find someone looking for maintenance but can't afford to pay. Win win ! Good luck
     
  5. vlc

    vlc Senior Member
    Messages: 636

    You mean paying cash for property? That's not happening. But just about anyone can get a loan. I can definitely afford it. I'm just looking into the future. I have 3 trucks and 2 trailers now, looking to add a second mowing rig and crew for this summer, and possibly buying out another landscaping company (we'll see how that works out). I just kind of see renting as throwing money away. If I bought some property, I could rent out some space there to help cover those payments. Just curious what the majority of guys do.
     
  6. vlc

    vlc Senior Member
    Messages: 636

    That's a good idea too. Never thought of that. I may give that route a try until I figure out what direction this is going
     
  7. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Something like this. Landscape company bought some land and put up a pole barn and used half and rented half ,took the money and built another one. Rented it out and built more.

    erie st.jpg
     
  8. vlc

    vlc Senior Member
    Messages: 636

    Now THAT'S what I'm talking about! payup
     
  9. GVL LLC

    GVL LLC Senior Member
    Messages: 121

    Being that im from your area id say owning would be much better because in the long run the cost isnt going to be that much different because everything is so dang expensive here anyways so rent isnt going to be cheap.
     
  10. snocrete

    snocrete Banned
    Messages: 2,862

    Started out of my garage, then had to rent additional space. Finally found(bought) a property w/building that suited my needs and got rid of the rental unitThumbs Up.....then after 1 yr, outgrew the owned property, and had to start renting additional space again:mad:...been stuck in this spot for a couple yrs now, and really need to do something. I hate renting.

    Location & zoning restrictions are 2 major factors you need to consider when looking to buy & planning for the future. When I bought the property I currently own, the first 1 I nailed - "location" - my shop is about 5min from my house, +/-500yds to a major interstate, dead center of my service area, and what I would consider a very safe area. The 2nd 1 "Zoning", not as much - things my biz has gotten into more cannot be done where I'm at now due to zoning restrictions....which sucks because I have plenty of room to do it (1 acre).
     
  11. CowboysLC_DE

    CowboysLC_DE Senior Member
    Messages: 174

    I've been using a storage unit and I just find the right piece or property yesterday. There isn't much open land within 20 minutes of my house so im jumping on this chance, hopefully I will have it by the end of the week.

    Only enough room for one large shop, so I can't do the whole rent out a building and then build another thing.

    Michael
     
  12. Glenn Lawn Care

    Glenn Lawn Care Senior Member
    Messages: 552

    If you can afford it but a place, it will be worth it in the long run.
     
  13. thelettuceman

    thelettuceman PlowSite.com Addict
    Messages: 1,216

    Vic > If you buy the other landscaping company, Do they have a storage facility?
     
  14. vlc

    vlc Senior Member
    Messages: 636

    Not sure. I don't know what's going on with that now.

    I found a small lot in town. Called them, and they are asking 300,000 for what looks like smaller than a 1/4 acre parking lot. No building or anything. Thats nuts!
     
  15. thelettuceman

    thelettuceman PlowSite.com Addict
    Messages: 1,216

    Please hold on to your wallet ... Sounds like they have a gun to your head ... give em the middle finger ... politely!!!
     
  16. vlc

    vlc Senior Member
    Messages: 636

    I just laughed and told them good luck.