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communick@indiehackers.space

Just acquired a 5,000 square ft building for pennies on the dollar. What business should I start with it!? (alien.top)

submitted 10 months ago by FewHearing5@alien.top to c/entrepreneur@indiehackers.space

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Just outside of town, hell of a deal. So far people here have suggested a car lot, a wholesale scratch and dent appliance warehouse, flooring store. Would love input and ideas!

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[–] djyosco88@alien.top 1 points 10 months ago (22 children)

Rent it out to someone who has a business already.

Take those profits to start a business.

Consider this. You start business here and fail. Now you lose the building and business. You have someone rent the building from you and start a business. The business fails, well you still own a building that pays you every month. So go start another business.

[–] Business-Coconut-69@alien.top 1 points 10 months ago (11 children)

Triple net lease that sucker.

I like the way you roll.

[–] anthonycr250@alien.top 1 points 10 months ago (1 children)

What’s that?

[–] PSPrez@alien.top 1 points 10 months ago (1 children)

Triple net is where the tenant not only pays rent, but also pays for maintenance and taxes on the property.

Furnace breaks? Roof leaks? Pipes freeze?

Are all the tenant's problem, not the landlords.

Property taxes increase? Tenant's problem. At least until the tenant moves out, then it becomes the landlords problem until they can find another tenant.

These are generally true of a triple net lease, but can be negotiated to just about any arrangement in a commercial lease.

[–] object_on_my_desk@alien.top 1 points 10 months ago (1 children)

A lot of NNN leases the owner will still pay for the roof and other structural repairs. The building is still the owner's asset and tenants have no motivation to keep the property value as high as possible.

[–] PSPrez@alien.top 1 points 10 months ago

Sure, but sometimes both entities have the same owner and are separated for liability purposes.

It all depends on the two (or more) business entities and what they are willing to negotiate.

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