a friend of mine that owns a restaurant mentioned to me once that he bought a house in a neighborhood behind his restaurant to use as storage for his extra supplies.
In my business we pay around 2700 a month for warehouse storage for our excess inventory. Buying a nearby commercial building would be easily $800k and up, the houses behind me are in the $200s I was wondering if we could do the same? how would that work on paper? does the business buy the house? do i set up a different company to buy the house and then rent it to the business? just kicking this idea around. what do you think?
It doesn't really matter who buys it, but you will definitely want to check zoning and see if it is a legal use.
Check with your accountant on the best strategy for your situation but I would recommend you set the property up in a separate LLC owned by a holding company and lease the property to your business.
Be careful of using a residential property for a non-permitted use. It takes just one neighbor who doesn't like you or what you are doing to cause you issues.
How about renting a cheap storage facility to use for storing inventory? Do you have room at your location for a shipping container to be brought in? Maybe lose some of the excess inventory?
Not answers to your questions about buying residential storage homes but certainly a more cost efficient way to go if able.