Buy an old brick building and create a loft/studio space

I want to buy an old school and turn it into lofts. I am going to make it happen. Any one know where I can get started on this project. It is a brick building built in the 1920’s that has been boarded up for 3 years or longer but it is a landmark Building. I don’t even know who to contact.

Nice buildings are hard to find. I think I have a line on one, but it’s not perfect for two reasons. One, the west wall needs about $30k of repairs. Or more. Two, there’s a renter, and that renter isn’t paying very much, and is locked in for another 6 or 8 months. Well, OK, I can handle the renter. The repairs are substantial enough not to want to make them until spring at least anyway. Oh, and this adds up to three—the price tag is inflated. Slightly.

Since this is my first real estate purchase, I want to do it the right way. I need allies, not obstacles.

But is the dream still alive, that’s the question? My real estate guy knows my price range, but continues to find me junk that doesn’t fit my dream. Maybe it’s my fault. Maybe I’ve opened the field up too many times, allowed myself to be pushed into wasting his time with drivel. I don’t even know if I really want it anymore. Probably this is because not having a studio means not shooting in winter very often. Haven’t shot a single frame with anything but my cell phone since December… Thus, I’m forgetting my photo habits. Still uploading photos. Not printing. Those habits stick. But shooting new material? Jeez. That’s rough. But I’m saving bunches of money ostensibly for real estate purchasing, and just not feeling the oomph.

There’s a rehab TV show that was rebuilding a house here in town a week or so ago… You know, before the elections? Anyway, they took a piece of crap house down in a crappy neighborhood and put up another. Haven’t seen their handiwork, but I’m sure it’s going to put the neighbors off their food.

Meanwhile, my realtor isn’t making any progress, or virtually any effort in my own search. My initial tactic of scavenging the small towns for likely unused buildings is long over, and I haven’t found a better strategy than a more or less passive “search.” It’s frustrating.

I’m even willing to entertain other options than the one that I initially had. Other dreams, if you will. But I want to move the frak out of dodge!

Frakking frak.

Since I took on this goal when I became a supervisor, and have now left that job for one that involves tons of travel and little time at home, it makes less sense to retain this as a short-term goal. It’s more like a hope now. I think I’m going to stumble across the perfect location, town, building sometime when I least expect it. My job is to be aware of when an opportunity presents itself, no? Yes. No. Well, it’ll be a surprise. Or I can construct my own reality when I’m ready to move on from this job. Which may be sooner rather than later anyway.

Meanwhile, I’m at least taking pictures where I travel.

After reading all the photo biz stuff last winter my determination took a hit. I’m also traveling a lot with my new job so I’m not pursuing this goal at present, but at some point, I’ll want to settle down and put down some roots. I’d like to think that this would involve photography. I’m currently focusing on equipment that’s portable, like the new camera I bought 3 weeks ago, a Canon 5D. It’s head and shoulders above the 300D. Hopefully I will use the time before “settling down” to dig in and master the photo arts.

Jonesin’ for a studio though.

Finally. Buildings that aren’t falling down, are at least in the ballpark of what I want, and are in my price range! There’s a two-building set in Elmwood, one for $15K, one for $55K, purchasable together or separately. The cheaper one is a prime studio location but is small to live in too. The adjoining, bigger one is actually rather too big, and both would need work and heating costs could be rather high. There’s a $50K one in Weeping Water that’s all-in-one, with potential, but is twice as far away from my work, and occupies a rather prime location for the town. I’m reluctant to be so high-profile at this stage of my photography. I was thinking of not putting a storefront up for months and months, until after I’d done quite a bit of work and really got on the stick artistically. But we’ll see! I’m pursuing the cheap one first, but I’m going to make sure there aren’t others even better suited before I do even that. I’m doing my homework. I’m being responsible. I’m hoping I keep my job for awhile so I have the resources to do whatever building I buy up right, and really give me the leg up and the time to grow into what I hope will be my next career.

So on Wednesday, I’m trippin’ to see another place. It’s a full hour away though, in NE City. It’s in the middle of downtown NE City to be precise. If it didn’t look to be dirt cheap, I’d say two strikes you’re out, but it does appear to be dirt cheap, so I must go look. It may be the closest thing to what I’ve been looking for… or it may be a waste of time and gas money. Or it may be just what I’m looking for AND a waste of time and gas money. (rubs chin) Meanwhile, I just had an awesome photoshoot today, hopefully some of which turns out nice on an actual computer monitor, not just on the tiny camera window. I’m pining for a studio, fact meet fact, and it’s a good presentiment that three shooting days in a row has produced a gradual improvement in my photography experience. That means, studio = more photos = happier me.

The building was flawed. It was actually two buildings connected, which was cool, but that just added to the price. He said he’d turned down an offer for $65,000 a couple years before. Now, if it had been in good shape, I could see that kind of money… One side of it had an old apartment above it. Great, right? Except that the ceiling was a mesh of plastic tarps, the floor was covered with debris and there had been nothing done to the place in 20 years to fix the roof damage that had taken place from a tornado. The lower floors likewise had evidence of the roof damage. Old tin ceilings, beginning to rot or fall down. Just for roof repairs it would take at least $10,000. The interior work… priceless. But I’d bet at least another $20,000 for that. Guy thought he could get over $65,000? Please. So we looked at the buildings he owned across the street. They made building #1 look like a luxury condo. More plastic sheeting and buckets to catch leaks, but worse than that, evidence of ceiling beams warping and buckling, floors that had completely given way or appearing to want to, and junk everywhere. To my mind, you buy a building, if you want to sell it someday, you put on a decent roof at the very least. Preserve your investment, even if it’s a small investment. But not this guy. So he’s not going to hear from me again. On to the next less ideal town, for hopefully a more ideal building! Incidentally, I had been hoping for a smaller town off the beaten track when I came up with this project anyway, so Greenwood was a stretch. It’s in the corridor between Lincoln and Omaha and as such, prices were going to be higher. I was hoping they’d still be realistic though. I’m sure I can get a better deal elsewhere, if any deals can be found at all.

I’ve spent the last two months driving all over southeastern Nebraska finding the best alternatives that at least vaguely meet my criteria. Next Tuesday I have an appointment with my registered real estate agent to view the interior of the first building I saw nearly two months ago. The owner is an older man who owns a bunch of property in the little town of 527. The location is ideal, the building is the best fit of those I’ve discovered, and the price is probably going to be right. Hopefully the condition of the building will warrant my interest. He’s using it for storage, so it should have a good roof… one hopes. Anyway, this is a turning point and I wanted to commemorate it. I’m moving to the status of a potential buyer of real estate. Cool beans.