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I need money to build a shed

Discussion in 'Starting a Lawn Care Business' started by Mikol87, Jan 11, 2010.

  1. Mikol87

    Mikol87 LawnSite Member
    from Iowa
    Posts: 93

    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!!!
  2. Lawn Man Dave

    Lawn Man Dave LawnSite Senior Member
    Posts: 420

    If I was in your shoes and this required a loan I would just fix up what you have now.....
  3. bohiaa

    bohiaa LawnSite Fanatic
    Posts: 5,220

    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.
  4. sehitchman

    sehitchman LawnSite Senior Member
    Posts: 777

    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.
  5. RLLServicesCT

    RLLServicesCT LawnSite Member
    from CT
    Posts: 225

    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.
  6. Mikol87

    Mikol87 LawnSite Member
    from Iowa
    Posts: 93

    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?
  7. Jay Ray

    Jay Ray LawnSite Fanatic
    Posts: 6,510

    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.
  8. helidriver

    helidriver LawnSite Member
    Posts: 108

    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.
  9. Mikol87

    Mikol87 LawnSite Member
    from Iowa
    Posts: 93

    Thanks for the help. I love Lawnsite!
  10. lawnkingforever

    lawnkingforever LawnSite Bronze Member
    Posts: 1,280

    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.

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