Re: [Coworking] Purchasing real estate for coworking space
I dug up one previous conversation on purchasing vs renting: https://groups.google.com/d/msg/coworking/Kxg1RQrqcX8/xefES2991W0J I'll pop back here later with some longer-form thoughts! -Alex -- *The #1 mistake in community building is doing it by yourself.* Join the list: http://coworkingweekly.com Listen to the podcast: http://dangerouslyawesome.com/podcast On Mon, May 18, 2015 at 11:59 AM, Jacob Sayles ja...@officenomads.com wrote: Sounds like a great idea! I don't have a lot to add as I've never purchased a commercial building. We lease the building that Office Nomads is in although we would love to buy it. Jacob On Sat, May 16, 2015 at 7:05 AM, Stephanie Miles stephanietmi...@gmail.com wrote: Hello all. I'm new to the group, at the very beginning stages of opening a coworking space in Redding, CA. (pop. 90,000) I'm considering buying a commercial space for my coworking business, rather than leasing. Obviously it's a big financial investment up front, however based on looking at the market here, it seems like the monthly payments on a commercial real estate loan would be less than the cost of a lease on a similarly sized space. (I'm looking at pretty run down industrial spaces, with the plan to renovate.) Wondering if anyone else has done that and what unexpected issues, challenges, or even benefits you faced by doing so? -- Visit this forum on the web at http://discuss.coworking.com --- You received this message because you are subscribed to the Google Groups Coworking group. To unsubscribe from this group and stop receiving emails from it, send an email to coworking+unsubscr...@googlegroups.com. For more options, visit https://groups.google.com/d/optout. -- Visit this forum on the web at http://discuss.coworking.com --- You received this message because you are subscribed to the Google Groups Coworking group. To unsubscribe from this group and stop receiving emails from it, send an email to coworking+unsubscr...@googlegroups.com. For more options, visit https://groups.google.com/d/optout. -- Visit this forum on the web at http://discuss.coworking.com --- You received this message because you are subscribed to the Google Groups Coworking group. To unsubscribe from this group and stop receiving emails from it, send an email to coworking+unsubscr...@googlegroups.com. For more options, visit https://groups.google.com/d/optout.
Re: [Coworking] Purchasing real estate for coworking space
We bought and renovated our building. I cc'd my wife who can give you more details as that's her area of experience (I'm the IT guy). Keep in mind that while the loan payments may be less, you'll also have to figure in property taxes, repairs/improvements and other items that wouldn't be a part of a commercial lease (depending on the lease type, of course). Just make sure you do an apples to apples comparison when you're calculating the costs involved. That being said, it does have the upside of not having to worry about things like a landlord tripling your lease because WeWork artificially inflated commercial property values in your area. *Glen Ferguson* Phone: 301-732-5165 Email: g...@coworkfrederick.com mailtog...@coworkfrederick.com Website: http://coworkfrederick.com Address: 122 E Patrick St, Frederick, MD 21701 On Mon, May 18, 2015 at 11:59 AM, Jacob Sayles ja...@officenomads.com wrote: Sounds like a great idea! I don't have a lot to add as I've never purchased a commercial building. We lease the building that Office Nomads is in although we would love to buy it. Jacob On Sat, May 16, 2015 at 7:05 AM, Stephanie Miles stephanietmi...@gmail.com wrote: Hello all. I'm new to the group, at the very beginning stages of opening a coworking space in Redding, CA. (pop. 90,000) I'm considering buying a commercial space for my coworking business, rather than leasing. Obviously it's a big financial investment up front, however based on looking at the market here, it seems like the monthly payments on a commercial real estate loan would be less than the cost of a lease on a similarly sized space. (I'm looking at pretty run down industrial spaces, with the plan to renovate.) Wondering if anyone else has done that and what unexpected issues, challenges, or even benefits you faced by doing so? -- Visit this forum on the web at http://discuss.coworking.com --- You received this message because you are subscribed to the Google Groups Coworking group. To unsubscribe from this group and stop receiving emails from it, send an email to coworking+unsubscr...@googlegroups.com. For more options, visit https://groups.google.com/d/optout. -- Visit this forum on the web at http://discuss.coworking.com --- You received this message because you are subscribed to the Google Groups Coworking group. To unsubscribe from this group and stop receiving emails from it, send an email to coworking+unsubscr...@googlegroups.com. For more options, visit https://groups.google.com/d/optout. -- Visit this forum on the web at http://discuss.coworking.com --- You received this message because you are subscribed to the Google Groups Coworking group. To unsubscribe from this group and stop receiving emails from it, send an email to coworking+unsubscr...@googlegroups.com. For more options, visit https://groups.google.com/d/optout.
Re: [Coworking] Purchasing real estate for coworking space
Sounds like a great idea! I don't have a lot to add as I've never purchased a commercial building. We lease the building that Office Nomads is in although we would love to buy it. Jacob On Sat, May 16, 2015 at 7:05 AM, Stephanie Miles stephanietmi...@gmail.com wrote: Hello all. I'm new to the group, at the very beginning stages of opening a coworking space in Redding, CA. (pop. 90,000) I'm considering buying a commercial space for my coworking business, rather than leasing. Obviously it's a big financial investment up front, however based on looking at the market here, it seems like the monthly payments on a commercial real estate loan would be less than the cost of a lease on a similarly sized space. (I'm looking at pretty run down industrial spaces, with the plan to renovate.) Wondering if anyone else has done that and what unexpected issues, challenges, or even benefits you faced by doing so? -- Visit this forum on the web at http://discuss.coworking.com --- You received this message because you are subscribed to the Google Groups Coworking group. To unsubscribe from this group and stop receiving emails from it, send an email to coworking+unsubscr...@googlegroups.com. For more options, visit https://groups.google.com/d/optout. -- Visit this forum on the web at http://discuss.coworking.com --- You received this message because you are subscribed to the Google Groups Coworking group. To unsubscribe from this group and stop receiving emails from it, send an email to coworking+unsubscr...@googlegroups.com. For more options, visit https://groups.google.com/d/optout.
[Coworking] Purchasing real estate for coworking space
Hello all. I'm new to the group, at the very beginning stages of opening a coworking space in Redding, CA. (pop. 90,000) I'm considering buying a commercial space for my coworking business, rather than leasing. Obviously it's a big financial investment up front, however based on looking at the market here, it seems like the monthly payments on a commercial real estate loan would be less than the cost of a lease on a similarly sized space. (I'm looking at pretty run down industrial spaces, with the plan to renovate.) Wondering if anyone else has done that and what unexpected issues, challenges, or even benefits you faced by doing so? -- Visit this forum on the web at http://discuss.coworking.com --- You received this message because you are subscribed to the Google Groups Coworking group. To unsubscribe from this group and stop receiving emails from it, send an email to coworking+unsubscr...@googlegroups.com. For more options, visit https://groups.google.com/d/optout.
