OPG = Other People's Garages.

This is a delicate art; most people will say "no". But you can exchange space for maintenance work as I do, usually with retired people/widows who have a lot of space and need repairs.

Also one must have rules: mine are 'no cars', 'no jukes', and 'no more pinballs'.

I'm an 'OPG' person myself at the moment. I rent a garage from a neighbour to accommodate one of my cars as my smaller garage is chock-a-block with stuff awaiting restoration, etc.

However, I've recently decided that I need a more permanent solution to this situation so I'm in the process of buying an industrial storage unit within 12 minutes of where I live that's big enough for the car and everything else and lots more, and is a quiet and pleasant environment for a workshop.

Before making the decision to buy, I investigated all sorts of rental options but the rent and quarterly outgoings asked for secure and clean locations in my suburban neck of the woods is as high or higher than repayments on a small commercial loan, so I decided to get equity and buy.

Having such a site also allows me the option to downsize the house in future without worrying about workshop space. And if I decide one day to get rid of all of my stuff I can rent out the unit.

I know someone with a larger building in a fringe suburb that has cars & industrial oddities. Not really high end cars just small ones: couple of Isetta's, a Honda N360, Mini Cooper. Obviously not income producing stuff, he's not an active restorer it seems. Back at his home I glanced at old Austin with 700cc flathead engine in garage. Even his house is collectable - an all steel enamaled green&grey Lustron 50's prefab. Another has a deal with farm buildings further out. Also has acres himself.

Another in a sparse suburb had a large metal shed with old coin/Op items and a nice large display extension room with restored Wurlitzer Jukes & working Nickelodeons. Very nice and I'm glad I visited because he soon after suddenly sold everything! This was 1989 and Jukes were hot, collector magazines were popular. I don't know how he picked the top of the market because Wurlitzers have never recovered from those dizzy 1980's prices! And as for the Nickelodeons?

GTC "buying an industrial storage"

Yes there is Bldg a block from me for sale: 3107-3109 W National Ave. (google for view)
that would make for a joyous home for my TV sets' Diaspora

Yes there is one a block from me for sale: 3107-3109 W National Ave. (google for view)

If I'm looking at the right place, I see two shops with office or residential space above them.

Also, if the valuations I'm seeing for that site are on the mark, it's unimaginably cheap to me ... until I notice the pages of Milwaukee property for sale ads listed as "foreclosure" and "pre-foreclosure", reminding me that the US economy is still seriously suffering the effects of the GFC.

To give you some basis for comparison, it would cost me I guess around AU$1.5 million (~US$1.4m) plus taxes, etc, to buy 4,574 square feet of commercial property in my location.

Would cost $3m in Asia!
That's why Chinese aggressively buying "cheap" property in Sydney & Melb (pushing up prices for Aussies)

Ironically this Bldg was owned by Chinese!
I saw truckload of VHS Asian rental movies being removed from basement that were abandoned by previous owners!
http://kapitalrealestate.com/properties-for-sale?view=property&id=1376

A tsunami of money hit Sydney's real estate market just after the Chinese government announced a crackdown on money in peoples' accounts that could not be explained. What we'd call "funny money" -- that the tax office would like to know about.

I have many Chinese friends here and they are the first to tell you that's where it's all coming from.

The practice of the Chinese buying up property here has extended to domestic real estate in the last couple of years and this has not only jacked up rents to obscene levels but has elevated the median house price in Sydney to around $750,000.00.

Back in the 1980s when the Japanese were coming out here with the shirt on their backs and their cheque books public opinion of the practice soon stopped them. The trouble now is that not enough people disapprove to the point that they'd refuse to sell and what is happening in real estate reflects what is happening in the motor industry. Local factories are closing down and people are losing their jobs and people simply don't care.

If you want storage space (and perhaps an attached workshop) and can afford a greenfields development I'd buy something rural. The cost of the land and the cost of council rates is much much cheaper. Failing that, renting a space at Storage King or Kennards may be the go.

No option is super cheap though.

Under FIRB regulations, non-residents are only allowed to purchase brand new dwellings. This policy essentially says if you want to buy property here, but not live in it, then you must finance the construction of new property.

Consequently, huge townhouse and apartment developments have been funded by Chinese investors. Redevelopment of the old Channel 7 site at Epping is a classic example. Many, if not most, of the units have been bought off the plan, site unseen, by non-residents.

Apart from affordability, the main criterion I had when looking for workshop and storage was "no further than 15 minutes from home". My strong preference was to be able to walk to it, if necessary. I do not want to become a peak hour traffic commuter to get there and back.

I've put a deposit on a 96.22 sqm unit with inbuilt toilet and kitchenette and which includes a parking space. Has 3.4m high ceiling and electric roller shutter to match. The complex is around 2 years old, has 24x7 security cameras and coded access after hours. There are common property showers accessed by key and maintained by strata services. And best of all for me, it's underground and cool. No more working under a hot tin roof!

I'm hoping to get the green light from the bank on this transaction by next Friday.

Don't tell us the address - you might find a bunch of us moving in with you..

Maven

Don't tell us the address - you might find a bunch of us moving in with you.

I ain't telling anybody where it is!

I plan for this to be my secret cave. I will be incommunicado down there. Just me and about 33 projects.

If property prices are elevated,
you can build your own bunker in backyard
like this crosstown acquaintance has - it's easy..
http://antiquetvguy.com/Frameset%20Pages/HomepageFrameSet1.html
(select - Bob's Bunker - tab & follow photos)

you can build your own bunker in backyard
like this crosstown acquaintance has - it's easy..

Maybe not too difficult if:

* You own a large enough backyard
* It's not laid over deep rock
* There's easy access for digging and construction equipment
* You don't have to move sewer and water services
* Your local council will approve the DA

The situation that guy found himself in -- having to move all of his stuff out at short notice -- was my main motivation towards buying space rather than renting.

It's not laid over deep rock...

That rules anywhere in Sydney out. The Sydney basin is right on top of a huge bed of sandstone. Foundations for skyscrapers in the CBD are miniscule compared to other big cities because of this. It's just a little harder to dig through than clay or silt though.

Maybe I stretched the "easy" part a little, a lot.