My industrial Realestate for sale

[g-coder05]

Not really tooling but maybe interesting to someone. Apparently Tennessee has some stupid law called "Arms link" that doesn't allow family members to purchase estate real-estate and i'm being forced to sell my properties where my shop was. The add is missing a lot and getting in touch with the realtor is not working so well. It claims one area is 6000 sf and that part is correct. It is a metal building 500x120 with 25' ceilings on 8" slab.

the 4800 sf section is actually larger. 4800 sf of it is under twin beam gantry crane with (2) 2 ton CM electric hoist with powered trolley 25' ceiling. there is an additional 2200 sf off one side with 15' ceilings both have 12" floors with 60" forms under the crane beams. This area also has 1800 sf basement.

the larger building has 15 ton Trane central heat and air with 3 offices each with seperate wall mount heat and air. The block building has gas heat with 60" exhaust fans. The block building has new rubberized roof in 2010.

There is also one out building 800sf with 4" floor. non insulated or HVAC.

The house is 2 bedroom with upstairs apartment with full bath over the 2 car garage. It could use a good remodeling thanks to section 8. Entire 1.8 acres is has 8' chainlink fence with 160' of main highway road frontage across the street from the town high school.

Both building and house are rented long term. The buildings are rented for $3k per month each and house is $700 per month. The basement could be rented but right now its just office space.


Listing:

815 S Lee Highway, Cleveland, TN 37311 - Homesnap

815 S Lee Highway is a 9800 Sq Ft property in Cleveland, TN. View more information about this property on Homesnap.

www.homesnap.com

Vid of inside metal building:

 

[Booze Daily]

Arm's length transactions are actually pretty common. I've bought 2 forclosed houses that way.

Arm’s Length Transaction

An arm’s length transaction indicates a transaction between two independent parties in which both parties are acting in their own self-interest.

corporatefinanceinstitute.com

 

[Dualkit]

I lived in a neighborhood that had two section 8 houses in it, every tenant was a disgusting white trash family that lived like pigs. I always wonder what would attract someone to turn their house into a section 8 rental.

 

[g-coder05]

Arm's length transactions are actually pretty common. I've bought 2 forclosed houses that way.

Arm’s Length Transaction

An arm’s length transaction indicates a transaction between two independent parties in which both parties are acting in their own self-interest.

corporatefinanceinstitute.com

In my case the estate named my uncle as executor and me as coexec for my kids. I proposed to my kids we buy the property and found out I or my uncle both are not allowed to purchase it.

I lived in a neighborhood that had two section 8 houses in it, every tenant was a disgusting white trash family that lived like pigs. I always wonder what would attract someone to turn their house into a section 8 rental.

In TN you cant refuse sec 8. The guy that rented it is a painting contractor and when he applied he didn't mention sec 8. Next thing I knew I was getting vouchers and he was packing the yard with junk cars. Gone now, finally.

 

[Doug]

In my case the estate named my uncle as executor and me as coexec for my kids. I proposed to my kids we buy the property and found out I or my uncle both are not allowed to purchase it.




In TN you cant refuse sec 8. The guy that rented it is a painting contractor and when he applied he didn't mention sec 8. Next thing I knew I was getting vouchers and he was packing the yard with junk cars. Gone now, finally.

Can't you set up an LLC ? You and the kids ? And the uncle if you wish.
IIRC your just "members" of the LLC.

 

[Dualkit]

In TN you cant refuse sec 8. The guy that rented it is a painting contractor and when he applied he didn't mention sec 8. Next thing I knew I was getting vouchers and he was packing the yard with junk cars. Gone now, finally.

That was in Cali, a couple decades ago. Even though it is a federal program I am pretty sure each state administers it differently. You would see ads and signs for rentals that would say "Section 8 welcome." and it seemed every family that moved into those 2 houses over the course of the 10 years I lived there were on section 8 and other public assistance, the parent or parents were home most of the time, they obviously did not have jobs. I just figured maybe section 8 removed some of the issues with renting out houses on the lower end of the market. I suppose you don't have to worry about the time and cost of evicting a non paying tenant.

 

[Mud]

FWIW There's a new section 8 development a mile from me. Every car in the development is newer than anything I own.

 

[Macds]

Im looking to leave Canuckistan for more than a few reasons.
Whats section 8 entail? Is there reasonable local industry?

 

[Mike1974]

Im looking to leave Canuckistan for more than a few reasons.
Whats section 8 entail? Is there reasonable local industry?

Section 8 is/was just for poor people.... doubt you would qualify being a 'chinist

 

[Herding Cats]

Im looking to leave Canuckistan for more than a few reasons.
Whats section 8 entail? Is there reasonable local industry?

Don't expect much better in Ameristan. My ex is Canuckistanian

 

[Dualkit]

Im looking to leave Canuckistan for more than a few reasons.
Whats section 8 entail? Is there reasonable local industry?

HUD's income limits for the Los Angeles area are in the table below. Only families meeting Extremely Low and Very Low Income standards are eligible for Section 8 assistance. Low Income standards are used only when, under certain circumstances, owners convert from a project-based to a tenant-based program. Congress requires that 75% of new admissions to the tenant-based program and 40% of new admissions to the project-based programs be Extremely Low Income. The remaining new admissions may not exceed the Very Low Income limit.
FY 2021 Public Housing & Section 8 Income Limits (Effective 4/5/2021)

Number of Persons	Extremely Low Income	Very Low Income 50% of Median	Low Income 80% of Median
1	$24,850	$41,400	$66,250
2	$28,400	$47,300	$75,700
3	$31,950	$53,200	$85,150
4	$35,450	$59,100	$94,600
5	$38,300	$63,850	$102,200
6	$41,150	$68,600	$109,750
7	$44,000	$73,300	$117,350
8	$46,800	$78,050	$124,900

It was decades ago in the Inland Empire in SoCal, but in spite of having white trash parents a girl from the section 8 family who was about 10 was extremely mature for her age and intelligent. She was friends with my neighbors daughter and was pretty open about the families finances. I supposed she eaves dropped on her parents. She said their rent was $75 a month. This was in a neighborhood where the average house would have rented for $800-$1000. Neither of her parents work and then as in probably now the lower the income the more you are eligible for and they had 4 kids. If you listened to this young lady explain everything they got between, cash, rent, food, and medical they were probably on the level of someone on a family income of $40k a year or so, but without the time and costs of commuting to a job.

 

[Oldwrench]

...in spite of having white trash parents a girl from the section 8 family who was about 10 was extremely mature for her age and intelligent.

Many of us bitch about being the Makers who provide for the Takers, but every once in a while somebody makes it out of poverty. I like to think my taxes may just occasionally help accomplish that, although I am sure the vast bulk are squandered. Maybe the girl made it out and is now an officer of a bank...where she denies loans to machine shops (sorry, just couldn't resist).

 

[Mike1974]

Many of us bitch about being the Makers who provide for the Takers, but every once in a while somebody makes it out of poverty. I like to think my taxes may just occasionally help accomplish that, although I am sure the vast bulk are squandered. Maybe the girl made it out and is now an officer of a bank...where she denies loans to machine shops (sorry, just couldn't resist).

I did! I grew up poor, on food stamps, living paycheck to paycheck (my mother's check I mean, father died when I was young), moving from place to place to find something cheaper or whatever. It happens.

 

[Dualkit]

Many of us bitch about being the Makers who provide for the Takers, but every once in a while somebody makes it out of poverty. I like to think my taxes may just occasionally help accomplish that, although I am sure the vast bulk are squandered. Maybe the girl made it out and is now an officer of a bank...where she denies loans to machine shops (sorry, just couldn't resist).

No problem giving people a hand up, my problem is with those who make a career out of it, and make no effort to improve themselves, or contribute what they can. I have no problem with working poor people getting food assistance, as long as I don't see them paying cash for $80 worth of smokes and alcohol, then using EBT for $80 of food.

As for that girl I have no doubt she turned out successful in spite of her parents. She pretty much dropped dime on them, they had not fallen on hard times, the parents made a career out of being sponges.

As much as I hate to say it I believe the government needs to hire more workers to oversee social programs. The money saved from people gaming the system will pay their salaries. It seems the undeserving seem to multiply through contact. I had an employee who had two cousins on social security disability that were perfectly healthy females in their 30's.

 

[Oldwrench]

...It seems the undeserving seem to multiply through contact. I had an employee who had two cousins on social security disability that were perfectly healthy females in their 30's.

I'm sorry to say I had female cousins of my own who rode welfare for three generations.

 

[g-coder05]

I had an employee who had two cousins on social security disability that were perfectly healthy females in their 30's.

Wanna get pissed off just visit over here and meet all these 40 year old navy kids that retired after pulling their 20 and then filed PTSD. I've got customers in my bar that blow a grand a week on hookers and beer and can still afford a house on the beach. The VA is handing out disability to anyone that applies in Manila. Some of these guys never saw any action they just say the fact they fired ordinance that "may" have killed someone haunts them.

 

[Dualkit]

Wanna get pissed off just visit over here and meet all these 40 year old navy kids that retired after pulling their 20 and then filed PTSD. I've got customers in my bar that blow a grand a week on hookers and beer and can still afford a house on the beach. The VA is handing out disability to anyone that applies in Manila. Some of these guys never saw any action they just say the fact they fired ordinance that "may" have killed someone haunts them.

What about all the stories of guys who are truly disabled veterans with physical disabilities not getting help?

 

[g-coder05]

What about all the stories of guys who are truly disabled veterans with physical disabilities not getting help?

That cuts deep for me. My dad was a CWO-2 in Vietnam and died a horrid death from Agent Orange. 47 years old, I put him in the hospital on a Monday and he was 220 pounds. By Saturday the septicemia infection had added 150+ pounds, so much his skin was splitting. The doc said it was agent orange and he didn't know if it could be treated. He died the following Monday and the doc put "Morbid obesity" on the death cert because in 2000 the government still hadn't acknowledged agent orange deaths.

My step sisters were thrown into foster care and never received a dime. These false claims over here just piss me off.

Truly disabled vets here have a hell of a time and diabetes is a big issue. All vets have to go to the VA in Manila every three months to keep getting benefits. The young guys all get a driver and rent a van and party for a few days while down there while the real disabled are trying to schedule their appointments to coincide so they can split a van and make the trip within a day.

 

[Dualkit]

Truly disabled vets here have a hell of a time and diabetes is a big issue. All vets have to go to the VA in Manila every three months to keep getting benefits. The young guys all get a driver and rent a van and party for a few days while down there while the real disabled are trying to schedule their appointments to coincide so they can split a van and make the trip within a day.

Had a retired air force friend who would spend half the time in Washington state and half the time in SoCal, he had 3 adult kids in each place.
He worked part time for me. He seemed pretty stubborn about getting medical attention, twice he ended up cutting himself, both times on fishing trips, both times getting a nasty infection. Twice the VA hospital just cleaned and rebandaged the cuts and did not prescribe or give him any medication. Fortunately I was with him and raised a stink and got him some ointment and antibiotics. To me it looked like blood poisoning waiting for a place to happen, definitely incompetent treatment or someone who did not care.

 

[Spruewell]

Talk to an attorney who specializes in estate planning. Not sure about laws in TN, but y may be able to set up a trust and transfer the assets into it, naming yourself as trustee and your children/grandchildren as beneficiaries