Hello all, Had a questions when it comes to BRRRR'ing a warehouse. I'll try to give you as much background as I can. Feel free to direct me in the right direction if this has been covered before. Here we go.
Background for Background sake: I am a fairly new Realtor (3rd year) but want to get into flipping and BRRRR'ing houses. I also have a side hustle of woodworking. It's not the main thing but I have quite a few tools that take up space. Hopefully you can see where this is going. I recently got kicked out (today actually) of the place I was living. I'm fine and this is the exact thing that a person needs to find even more motivation. With all that being said here is my thoughts.
I'm in Southern California north of San Diego. I've located a warehouse that qualifies as a live/work space. It needs work and I will have to jump through some hoops when it comes to planning and parking but from what I've found out so far I think I can do it. My plan as of right now is to put some sketches together of rough plans and present them to the planning people of the city. If I can make this all happen, I have a place to live, my tools are safe and I can work, plus I have a friend or two that are willing to rent floorspace from me, thus limiting my expenses.
My other question is financing. I need it. Where to start. I was going to talk with our in house lender in my office and go from there.
I need thoughts, guidance, next steps, things I missed from the BP nation.
Thanks everyone. Toby
First off, this is so rad! I love the idea of a live work space especially when you have a trade like woodworking. I don’t know much about the logistics of it but from an investment standpoint it sounds like you’re on the right path. I’m local in north San Diego county and in the industry, I’d love to connect, hear more about your idea, and see if there’s any way I can help.
I’ll send you a pm.
Hey man! This is such a unique idea. I wish I had some insight on how I could help but I would love to see what you have going on with the warehouse. I'm a new agent in San Diego, and so I'm close by. Let's connect!