Is it possible to live in a grocery store? There's a building for sale in town that used to be a K-Mart. It's selling for $150K which is like 3x cheaper than the average house around here unless I want to live in the ghetto. Renting is nonexistent outside of the ghetto. This isn't a large place with apartments everywhere. The only other option is renting a crack den or house for $1,500 a month. Figured a mortgage on this store would be cheaper.
>>1179019
If it's a commercial property, taxes on it might be higher.
>>1179019
Is it legal?
>>1179019
Use drywall and other cheap building materials to subdivide space into large rooms with lockable doors; rent these spaces out to "artists" & "craftspersons" to use as their "workshops" -- *wink* *wink* -- which they "don't live in" (although they secretly do). Bring in lots of white hipsters. You are now the spearhead of neighborhood gentrification. With the cheap botegas etc and your reasonable rent, the place becomes popular. Eventually, tenants are throwing underground music events et al, and the neighborhood starts to Bushwickify. Soon, you sell your building for ten times what you bought it for, and walk away happy with memories & cash....
>>1179019
I've honestly thought about this tbqfh.
>Free slushies from the slushie machine
>Get to eat whatever food it came with
>Cool, roomy refrigerators so you can buy meat in bulk and save even more money
>Literally cheaper than any other property of similar size
Only thing is I think it's illegal to live in it desu.
>>1179093
check your cities Zoning by-law.
Now the rub would be if there were residential uses allowed on site. then you could potentially reserve some space for a "residential dwelling".
doubt it though
>>1179019
Even when the store is closed, there will still be a night crew unloading trucks so it's not like you can freeroam
>>1179322
>Even when the store is closed, there will still be a night crew unloading trucks so it's not like you can freeroam
But he doesn't want to use it as a store. There will be no trucks.
>>1179313
This
If its legal i say do it, its an incredible amount of space and you can really profit from it if you really apply yourself
Source: I'm an architect
>>1179019
Couple things:
-You won't be able to claim it as a homestead, so you won't be able to write off mortgage interest on your taxes.
-since it's commercial property, you'll have to get a special loan, which likely means you'll have to have 20%+ collateral/down payment to put toward the purchase.
-unless it's zoned as combined commercial/residential, it's unlikely you'll be able to renovate it into a long-term living space without having to worry about a zoning commission blowing your shit up with fines & whatnot.
It's a good idea, but depending on the zoning on this specific building, it might not be worth pursuing.
>>1179313
Exactly. If it's combined commercial-residential, just drywall off a large studio space, put in a bathroom, and rent out the rest of the space as warehouse and/or storefront.
Boom; easy source of side income to pay your mortgage while you kick all your 9-5 income (that would have gone into the mortgage) into your investments.
>>1179329
Oh I thought he was trying to be like:
http://www.nydailynews.com/news/national/texas-boy-14-caught-living-walmart-days-article-1.1902094
I didn't read that he'd actually buy it
>>1179401
HOLY FUG, I HAVE NEVER SEEN ID TRIPS BEFORE
>>1179019
You're probably going to get some pushback from the community, since they would presumably like another place to shop.
>>1179401
TRIDS
The minute that thing needs a new roof you're going bankrupt.
I bet running the air conditioning would kill you too.
>>1179260
Hey... he might be the first non-autist on this board.
>>1179019
This would make an AWESOME premise for a comedy.
I say go for it OP. And blog about the experience online. Develop a following and become famous.
Then run for president.
>>1179882
He started with a small loan of 150K dollars.
>>1179019
Make sure to run up all the costs like running the air conditioning/heating, the cost of a large repair, and making any renovations.
Also do you plan to live in the store AND sell stuff, or just live in it?
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