Hey Folks,
Long time lurker here and this place has been a wealth of information!
My wife and I own and operate an independent automotive repair facility in Maryland. We have done tremendously well the past couple years and we started searching for a new home for our shop last June. I had always kept an eye on a particular piece of property ever since I moved to Edgewater and told myself I'd own it one day. Well, just as we were starting our search for a new home, we found out that it was going on the market. It was way above our budget as they were selling the property and we were in the market to lease a building. But in the span of a month we put together a strong business plan, found multiple private investors that believe in us and found a bank that would offer us the right financing with a conventional loan and we submitted an offer. We were up against cash buyers, but we also wrote a heartfelt letter to the seller stating our plans and dreams of expanding our little business...it must have worked. They accepted our offer last October and we just finally closed on the property two weeks ago after some hard fought negotiating regarding multiple environmental issues on the property...but it's ours! And we're ready for the next chapter of our lives.
So, I thought I'd start this thread to not only share with you all the evolution of the shop, but to also document it for myself as well.
I'll be asking for input and suggestions along the way as well. So here we go!
Long time lurker here and this place has been a wealth of information!
My wife and I own and operate an independent automotive repair facility in Maryland. We have done tremendously well the past couple years and we started searching for a new home for our shop last June. I had always kept an eye on a particular piece of property ever since I moved to Edgewater and told myself I'd own it one day. Well, just as we were starting our search for a new home, we found out that it was going on the market. It was way above our budget as they were selling the property and we were in the market to lease a building. But in the span of a month we put together a strong business plan, found multiple private investors that believe in us and found a bank that would offer us the right financing with a conventional loan and we submitted an offer. We were up against cash buyers, but we also wrote a heartfelt letter to the seller stating our plans and dreams of expanding our little business...it must have worked. They accepted our offer last October and we just finally closed on the property two weeks ago after some hard fought negotiating regarding multiple environmental issues on the property...but it's ours! And we're ready for the next chapter of our lives.
So, I thought I'd start this thread to not only share with you all the evolution of the shop, but to also document it for myself as well.
I'll be asking for input and suggestions along the way as well. So here we go!