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View Full Version : I need money to build a shed


Mikol87
01-11-2010, 09:08 PM
I've been doing this a couple years now. I mow 30 accounts weekly and do a few fertalizing jobs as well. I also keep buesy landscaping, and some tree work as well. Long story short, my old 10ft by 12ft metal storage shed has seen her better days. The doors don't work and it leaks. (badly) The solution is to buld a new garage or large storage shed to house my rider, push mowers, trimmers, etc. Problem is I dont have the $ to do this. A new garage will cost me $10,000-$15,000. A nice storage shed would be half that. Any ideas on how to get a LOW interest rate loan for my LCB? Or maby a zero interest for 48 month deal? Any advice will be helpful. Thanks!!!

Lawn Man Dave
01-11-2010, 09:25 PM
If I was in your shoes and this required a loan I would just fix up what you have now.....

bohiaa
01-11-2010, 09:45 PM
my friend:

I take it you live with your parents, If so then you will KILL them with taxes, on top of that if you dont have the money. how in the Namd Of God will you pay the Rendition???

If I were you I woulod RENT a storage shed. to keep my proptery in. this way it's tax deductable.

sehitchman
01-11-2010, 09:47 PM
Around here you can get a rent to own shed with nearly zero down and no credit check. I'm sure the price is higher than paying cash for one, but if you are desperate, perhaps look into that, it might be available in your area also.

RLLServicesCT
01-11-2010, 10:04 PM
My dear boy.....RENT a storage space, garage, or warehouse space(s) for a couple hundred bucks which IS a tax write off and you can save some $$ up to buy/build a shed or garage then pay it off in full or at least half of it. Save yourself the interest from a loan because it seems you have plenty of business to support saving up some green for a building once the season begins again? Of course you may have a plethora of other expenses that you need to cover, but renting just seems like a better option for you in my opinion.

Mikol87
01-11-2010, 10:36 PM
Actually I have my own house that I bought 3 years ago. The house came with the awesome shed. I do lawn care on the side along with my other fulltime job. I have the money to do this, Im just cheep I guess. After a new trailer, rider, trimmers, leafblowers, etc I think It's time to move out of that tin can. The other stuff was a necessity but the shed I can live with. Would a garage be a tax write off?

Jay Ray
01-11-2010, 11:02 PM
Actually I have my own house that I bought 3 years ago. The house came with the awesome shed. I do lawn care on the side along with my other fulltime job. I have the money to do this, Im just cheep I guess. After a new trailer, rider, trimmers, leafblowers, etc I think It's time to move out of that tin can. The other stuff was a necessity but the shed I can live with. Would a garage be a tax write off?

I think a tax writeoff can be done on a garage, but when the day comes to sell your place it is a complicated tax nightmare if there is a mixture of business and personal use real estate. I really don't know, that's only what I heard. I think the residential portion is free of capital gains, and the business portion of the real estate sale is subject to capital gains. If anything changed use from business to residential or vice versa it gets more complicated.

If we didn't get hurricanes here I would like to use some of the portable buildings Farmtek sells in Iowa. If you could pick it up and avoid the shipping it would be even better.

helidriver
01-12-2010, 10:39 AM
I suggest a shed with a garage door. I think a home equity would do it best for you. Low rate or just remortgage and eat the cost. A new shed is good for a lifetime if you just care for it. I just purchased a 12'x20' for $4500 delivered. Replace the exhisting shed and no permit needed really. Good luck.

Mikol87
01-12-2010, 12:36 PM
Thanks for the help. I love Lawnsite!

lawnkingforever
01-12-2010, 02:55 PM
If you have the room just build something on your property. Figure what size you need for your equipment then double it, this way you will have room for growth. Storage units are OK for a quick fix, but it is better to have your equipment on site. I would hate to start out and end each day at the storage area. Having a garage type door would be a big help, like helidriver said. I made the mistake of building my garage too small, now I have 2 sheds and a third one is going to be built this summer for my quads. I should of built a huge pole building from the begining, would of been cheaper. The only problem with these large metal buildings, is trying to heat them, when you are in there working during the winter.

kemco
01-12-2010, 06:14 PM
I think a tax writeoff can be done on a garage, but when the day comes to sell your place it is a complicated tax nightmare if there is a mixture of business and personal use real estate. I really don't know, that's only what I heard. I think the residential portion is free of capital gains, and the business portion of the real estate sale is subject to capital gains. If anything changed use from business to residential or vice versa it gets more complicated.

If we didn't get hurricanes here I would like to use some of the portable buildings Farmtek sells in Iowa. If you could pick it up and avoid the shipping it would be even better.

And it can get a bit more complicated than that actually. If the shed it not built on a slab it is generally considered chattell (personalty) and not real property which could possibly exclude any of the real property value being considered at the time of sale of the home. And then you get into the "exclusive use" rule that the irs imposes on items and property that would generally be found at a residence, the red flag that this could throw up come tax time, etc. I'd go with the other suggestions of renting a storage space. I use one of my home garages for keeping back-up equipment, tools to work on the equipment and seasonal equipment when not being used... but I dont dare try to write that off.

Lawn Man Dave
01-12-2010, 06:18 PM
And it can get a bit more complicated than that actually. If the shed it not built on a slab it is generally considered chattell (personalty) and not real property which could possibly exclude any of the real property value being considered at the time of sale of the home. And then you get into the "exclusive use" rule that the irs imposes on items and property that would generally be found at a residence, the red flag that this could throw up come tax time, etc. I'd go with the other suggestions of renting a storage space. I use one of my home garages for keeping back-up equipment, tools to work on the equipment and seasonal equipment when not being used... but I dont dare try to write that off.

Not to mention home owners insurance will often not cover it with the house. The people that lived in my house before I did built a nice shed but it is not on a slab so it is not included in the insurance. Im sure that would go for most if not all structures.

bohiaa
01-12-2010, 07:30 PM
Actually I have my own house that I bought 3 years ago. The house came with the awesome shed. I do lawn care on the side along with my other fulltime job. I have the money to do this, Im just cheep I guess. After a new trailer, rider, trimmers, leafblowers, etc I think It's time to move out of that tin can. The other stuff was a necessity but the shed I can live with. Would a garage be a tax write off?

NO. unless your zoned commerical.

sorry about mistaken you for some one who may live with parents.

Mikol87
01-12-2010, 09:44 PM
NO. unless your zoned commerical.

sorry about mistaken you for some one who may live with parents.

Thats allright I can see where there could be a misconception.

Lowes has a kit for a 12ft by 24ft shed that is $4,049 or $116 a month with your Lowes card. If I pour a cement slab I should be set.
I think I will just avoid the tax write off issue. I have plenty of write-offs with new mowers, trimmers, gas, fertalizer, repairs, etc!

ed2hess
01-12-2010, 10:08 PM
Why don't you just get a cheap tin shed from Sears and a closed trailer.

helidriver
01-12-2010, 10:17 PM
Hey lawnking.....kerosene heater. Its instant on and instant off and tons of heat your can adjust the amount and it beats anything else you could buy.

lawnkingforever
01-12-2010, 10:38 PM
I have 2 propane heaters and like kerosene they leave off too many fumes after awhile. I should just run a gas line out, the garage is not too far from the house. I already have a fridge, DirectV and microwave out there, so why not. I will tell you though, after insulating the building last year it holds heat alot better.

sehitchman
01-12-2010, 10:40 PM
Thats allright I can see where there could be a misconception.

Lowes has a kit for a 12ft by 24ft shed that is $4,049 or $116 a month with your Lowes card. If I pour a cement slab I should be set.
I think I will just avoid the tax write off issue. I have plenty of write-offs with new mowers, trimmers, gas, fertalizer, repairs, etc!


Check out this guys pricing. Perhaps he has an associate in your area.
http://atlanta.craigslist.org/atl/for/1541399289.html

12X24 is showing $3000 with roll up door.

topsites
01-12-2010, 10:41 PM
Under no circumstances would I consider going into debt over a dang shed.

What I would do is put up a portable canopy tent for the time being, they're
quite durable and should last 5-8 maybe 10 years, in which time you save the money.

Something along these lines:
http://www.northerntool.com/webapp/wcs/stores/servlet/product_6970_200333893_200333893
$300 over and done, takes a long afternoon to put one up, I spent two afternoons on mine, a helper is good to have but not required.

Then if in 10 years you still ain't got the money?
All that ever wears out on those things is the tarpaulin cover itself,
you can order that from the manufacturer and simply replace what
can't run much over $100-$200.

Check out this guys pricing. Perhaps he has an associate in your area.
http://atlanta.craigslist.org/atl/for/1541399289.html

12X24 is showing $3000 with roll up door.

All things considered that looks to be some really good bang for the buck as well, I've seen similar sell for $7g!

Jason Elliott
01-13-2010, 05:02 AM
If you have the money and space I'd put up an insulated pole building with a concrete floor. If you don't really have the money, then I'd just rent a storage unit for a while till I could pay cash for a new building.

bohiaa
01-13-2010, 08:32 AM
Thats allright I can see where there could be a misconception.

Lowes has a kit for a 12ft by 24ft shed that is $4,049 or $116 a month with your Lowes card. If I pour a cement slab I should be set.
I think I will just avoid the tax write off issue. I have plenty of write-offs with new mowers, trimmers, gas, fertalizer, repairs, etc!

dont forget to get permits and remember it may make your proptery tax go up.



Best of luck to you

Brad
01-13-2010, 06:31 PM
I don't know what they charge now, but I did a Bullock Garage about 20 years ago. It was $4000 then, so even if you double that you are under 10k. That was absolutely everything, including cement. There's also "carriage house" garages.