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Old 11-07-2012, 10:07 PM
jgrand jgrand is offline
LawnSite Member
 
Join Date: Jul 2012
Location: LAFAYETTE, LA
Posts: 25
Help with situation

Ill give a little background on myself first. I worked with a landscape company while in college for five years. We did flower beds for a while then starting exclusively building decks, pergolas and some hardscaping. I mowed a few yards on my own too. I am out of college now (kinda, still in the process of getting my masters) and have a full time job. I started a landscape company on the side because I enjoy it and for extra income. I mainly do small residential jobs such as walkways, fences and pergolas.
So here is the situation. I want to buy a lot that I really like for many reasons but the hoa fees are 200 a month. I will not build on it for a while and want to buy it now as an investment as the area the lot is in is a newly popular place. The price on the lot is very reasonable. The biggest problem is that the 200 a month in hoa fees would take away any return on my investment. In order to offset this I made an offer that I would do the mowing in the subdivision and in return my hoa fees would be free. The subdivision said they are willing to accept my estimate but would not extend free hoa fees. So, I am still considering submitting an estimate and using the profit to pay the hoa fees.
The cons to this situation is that I do not have a commercial mower so I would have to get one and hope to pick up other yards in addition. But I also have a full time job so this would be difficult. Another con is that I don't have much experience with a commercial property this size. It's only about two acres and a small flower bed but I still don't know how much overhead and things like that would cost to give a fair estimate without losing money. I want to do it mainly to be able to get the lot mainly but I don't want to end up mowing and still end up paying when it's all said and done. I hope I explained this thoroughly and where everyone understands. Can anyone give me any suggestions or tell me what they would do? Pro's con's?
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