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Problems in owning your own building

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dafly Newbie

dafly

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I was currently looking into purchasing a building to operate a outdoor sporting goods store. The problem we ran into came from the environmental testing. The building use to be a Service Station many many years ago with a potential hoist being buried in the concrete. The attorney handling the real-estate transaction closed out the contract without my consent went AWAL after the Phase 1 test discovered these REC’s which I told him would come into play before we spent this money. Now after all this, I ended up learning a few things on EPA, property, and Enviromental REC’s.

The property wouldn’t be able to be turned back into a repair shop as theirs one right by the building and is a small town. Plus think their would be major issues with even getting approval from the township. The building simply inst setup to be a repair shop anymore. It’s been changed too drastically.

I originally wanted to own my own repair shop. However, do to my finances this is probably out of the question, but maybe still possible just not to the capacity I wanted, or maybe at least a detail shop.

How are you guys dealing with the environmental issues in purchasing a building? Older buildings would already have REC’s such at possible UST’s, LUST’s, ground contaminations, and so forth. Not to mention even doing a BEA, surly this line of work would only cause failures to prevent making the situation worse, or am I wrong here?

Plus if you were to by a clean property with no REC’s, what to do when selling the property? Seems to me that the property would need cleaned up before it could be sold.

I am now scared to even want to open a shop after this whole ordeal after this mess with our attorney.

Paying for Phase 1 after Phase 1 to find a property is insane. You then are looking at a Phase 2 and cleanup costs associated. I really do not know How anyone is buying commercial property anymore, not alone for a repair shop. I’m sure the attorney has really got me filled with so much wrong and inaccurate information and really need someone in the industry to clear the air here for me, regardless if we can get negotiations opened back up for this property and do the sports store, open a repair shop, or open a detail shop.



ScottyP Enthusiast

ScottyP

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Posted

Maybe this varies by region, because a building behind from mine sold a couple months ago. It was originally a gas/service station and that was maybe 40 years ago and prior. Then it was a muffler and brake shop until it sold. Now it's going to be a farmers market, whole foods type of store, just like that! That's quite a change and there was no enviromental work or studies done at all. They got in a little heat for not pulling permits and changing zoning usage, but that seemed to clear up quick and they are back working on it.

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  • Have you checked out Joe's Latest Blog?

    • Joe Marconi
      The Toolbox is Last to Leave, First is the Heart
      By Joe Marconi in Joe's Blog
         0 comments
      It always amazes me when I hear about a technician who quits one repair shop to go work at another shop for less money. I know you have heard of this too, and you’ve probably asked yourself, “Can this be true? And Why?” The answer rests within the culture of the company. More specifically, the boss, manager, or a toxic work environment literally pushed the technician out the door.
      While money and benefits tend to attract people to a company, it won’t keep them there. When a technician begins to look over the fence for greener grass, that is usually a sign that something is wrong within the workplace. It also means that his or her heart is probably already gone. If the issue is not resolved, no amount of money will keep that technician for the long term. The heart is always the first to leave. The last thing that leaves is the technician’s toolbox.
      Shop owners: Focus more on employee retention than acquisition. This is not to say that you should not be constantly recruiting. You should. What it does means is that once you hire someone, your job isn’t over, that’s when it begins. Get to know your technicians. Build strong relationships. Have frequent one-on-ones. Engage in meaningful conversation. Find what truly motivates your technicians. You may be surprised that while money is a motivator, it’s usually not the prime motivator.
      One last thing; the cost of technician turnover can be financially devastating. It also affects shop morale. Do all you can to create a workplace where technicians feel they are respected, recognized, and know that their work contributes to the overall success of the company. This will lead to improved morale and team spirit. Remember, when you see a technician’s toolbox rolling out of the bay on its way to another shop, the heart was most likely gone long before that.

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