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Stradman: "I'm building a custom dream home exactly how I want so I can garage all my cars." Hoovie: "I bought a building and don't know what to do with it. It definitely cannot have cars in it."
I bought an old building online and moved across the country, figured it out as a I went, but now I have a cool building in a small town. Much more solid decision.
@@TheAleschu let's just say the story is way better than the visual lol. Actually sourcing some stock 355 seats for it. The car isn't getting a full restoration but definitely working to tidy a few things up. Possible respray eventually as well. But candidly I've owned cars I've been nervous to drive based on them getting damaged. What I love most about this car is it's character.. just drive it and enjoy it for the pure experience.
Sad to see the 348 go, the bus fabric seats and crazy mileage made it the quintessential Hooptie for me, but glad it's staying "in the family" so to speak, and it has permitted a 'next-step' investment so it's left a legacy.
Seats can be replaced and i wouldn't call the mileage crazy although it seems to be very important to be low with these kind of cars. Something i don't fully understand since a good service record and keeping the car in good shape are in general more important in my view.
It's the type of ferrari you're not afraid to drive and enjoy. Like a POS ford pickup I bought for $750. 4 x 4 crew cab 2006. A buddy was loading some lumber into it and bashed it against the fender...OH mikey sorry, jeez I didn't mean to do that. I took one and banged it hard, "don't worry about it". lol Then there was the time a customer was helping me unload a large sign out of the back seat, he banged it against the door OH SHIT SORRY. Me? I kicked the door, "don't worry about it" lol I'm not saying for out and load lumber onto it, but if you come out of the grocery store with a door ding, yeah, nothing to freak out about.
A gutsy move there, sir! Now, as for what to do with the place, hear me out... Have you considered putting some security cameras up in the parking lot?
Smart move, renovation videos sure are interesting. You could start a franchise of the company you worked for. Or Hoovies House, an actual place to buy merch. Or Hoovies Kansas Coffee, hold Sunday morning rallies from your new 'digs'. Congratulations, good luck and have fun!
Started out watching a guy build a hooptie fleet, now watching a guy invest in assets which will appreciate over time and setting up his family for a long term comfortable life. Good job Tyler!
@@thelastmemphian Which in no way takes away from what he has accomplished. He creates content that entertains millions, he helps out folks in his community. He's a good person.
@@thelastmemphian they earned it. tyler still has his own budget and options to consider. my enthusiasm for the channel has diminished greatly since he started buying 100k$ cars but.. he's no moron.
Maybe he sees the Governmental change that's coming in a few years and betting that the current people will not destroy us completely between now and then...
"modern" HVAC unit....take it from a HVAC technician. Might do you a good thing to have that professionally inspected. Looks like the furnace is 20 years old and the AC about the same
Your definitely going to have to upgrade the electrical service panels, you have got to wonder who was the genius to put a sink right next to those panels.
Until the very last moment I was expecting Tyler to explain that the building purchase was related to his idea about re-applying for a dealer license to save on taxes. Somehow the real explanation feels like I'm still waiting for the punchline!
Would have been a much smarter move. Dealer plates, fleet insurance. He'd save more than he paid for the building if his next couple of years were like the last.
Sold the car at the right time (may want to sell more) but bought the building too early. A major recession is on the horizon which will be the perfect time to scoop up some real-estate.
and all that dry rot covered by that shiite siding, and rear neighbors taking over the lot line..been there done that with these type of properties if he didnt have it inspected and certified he is even a bigger fool
Personally I’d sub divide it into a couple tenants. Get some solid small businesses in there like a barber shop, coffee shop, things people don’t do online. You’ll have reliable good local tenants.
Keep the building, clean it up, maneuver one of the hoopties in front of a window. Set up retail space to sell Hoovie Merchandise. Then clean up the back room to make into video editing area. Somewhere along the way install security system with cameras. Then every 3-4 weeks replace the displayed Hooptie. Build it and they will come…. Oh and that Bathroom needs some updating
When I first saw Hoovies garage, it frustrated me that he can be so successful knowing so little about working on these cars, but he's just so honest about his lack of knowledge and so likable that I've really come to appreciate him. So, I wish you well "Hoovie."
Lex Luthor once said. "Stocks might rise and fall, utilities and transportation systems may collapse, people are no damn good, but they will always need land and they'll pay through the nose to get it..."
Yet, even with a bad market, if you pay cash, you end up ahead. A typical 20 year mortgage has you paying 100% of the property's value extra in interest, on average, after all fees and so on are added. You can get a small tax break for some of the interest, but even in a best case scenario, you're looking at 150k on a 100k property ( as an example ). The "gurus" say to leverage taxes and payments and so on, but you're never going to do more than break even and your monthly cash-flow is horrible while heavily leveraged. Paying cash? If that place drops to 50K, he still is ok vs a loan. And that's 3-4 years of rent if he turns it into two small places. Since he has no loan to deal with - it's all cash and honestly better potential income years from now than his franchise. And I think that's the real goal - to be a landlord versus renting a franchise. Shoot, make his OWN burgers and chicken his way if he wants. Land that's paid off always is a world of possibilities :)
@@plektosgaming You're 100% wrong. Point of leveraging debt is by taking 100K and buying 1 million in property, not taking 100K and buying 100K in 1 property. Or take 100K, use 10K to buy a 100K property, and keep the other 90K for other investments. The point is to use the money to make money. In the 1mil example; That's 10X-30X the cashflow monthly as opposed to the alternative. That's a way faster ROI. Then you take that cashflow, reinvest it, and repeat. Eventually you can roll out of a property entirely and roll into a larger one. I won't even get into tax benefits, which its clear you don't understand by saying "Even small tax breaks", no, that's not how it works. Its why you don't want to overleverage on a property. Which you use for your example, which is dumb, because nobody should over-leverage on a property. Nobody is going to buy a home that loses 50K in value either, unless they're dumb. Nobody gets anywhere in life without leveraging debt, can't name one very successful business who hasn't done it. The way the economy works, its set up to benefit debt, bailouts, inflation, etc etc. The more debt you have, the more important you are. What you're describing is how to stay middle-class or grow slow. In addition, you're fear-mongering. You'll work your entire life to own a few properties that are useless and cashflow nothing, meanwhile, someone else will have 50X your income in half the time because they leveraged debt. Lets pretend you do go bankrupt or over-leverage yourself, oh well, go bankrupt, restart. Even with a setback they'll be more rich than you are and learned their lesson. No way to lose. Its people like you who get crushed in recessions. The erosion of the middle-class, the big bad corporations taking over everything. Why? Because they play the debt game, and keep getting stronger, and people like you don't, and its why the only thing you'll give to your children is a job and chump change while Bezo's and Musk will employ them.
AA BB What I was thinking. Sell the car while prices are high. Buy a building in two years as prices plunge. But it could be that $75K is a bargain right now, even in Wichita so Hoovie is just taking a bargain when he sees it.
More accurate would be youtuber laughing and dumb people believing he wastes money. The guy wins on every car he buys and sells now he is in real estate.
@@zephead843 doug demuro said it on the smoking tire podcast last year once you add all the views from the videos and sponsorship the man is always on profit
Hoovie, the real estate magnate! I love it. You’re a great person and I definitely enjoy watching your videos whether about cars, becoming a hair stylist, a rodeo clown or a real estate investor.
Hope you get that foundation inspected. If I am not mistaken those vents on the outside are for raised foundation buildings, and those large cracks in the stucco could be foundation problems.
He can’t use that as a garage because cars can’t be parked inside. Also, it would be odd to take away from the wizard and car ninjas business after they likely help him on bills
... and here it is. I was correct about his move to sell the 348... a car he could afford and enjoy for years. thank you for being you Hoovie. i love how honest he is about his terrible decision making!
Ladies and gentleman, this is how you avoid paying taxes. You own real assets you can depreciate (building) over time which can reduce your overall tax liability. Good luck Tyler! Wishing you much success. Very interested in renovation content for the new site.
I think you’re definitely smarter than you lead on to be. Very wise decision, invest your RU-vid money into real estate that will always appreciate. Not sure about the location but with your platform you’ll always have a tenant just like you have buyers for your cars. Smart man .
Well I’m looking forward to seeing what Hoovie is going to do with the new place. I must say I do learn quite a lot watching this channel. Keep up the great work!!
A family in my community bought a butcher shop and turned it into a house. It was so nice it already had a garage door in it for backing the pickups in, to unload the carcasses.
Very much agree. Also, note how consistent and integral the 348 design is. For instance, the door cards have diagonal lines that flow along the handles into the dashboard, with the design of the handle echoing these lines. With the F355, the lines are gone and there is this big empty space with a sort of crutch sticking out in the middle, then roughly the same handle area to keep the connection with the dashboard. Evidently, the 348 was drawn on a blank canvas, while the F355 was not.
When I met my wife, I had a few classic chevy trucks, I owned my own shop, and covid hit me hard as a small business owner. I sold my trucks to pay bills, and to keep my dream alive, a life forever with her. Time went by, we re-launched my shop, our shop, in a new location. Business has been a blessing, and for my 34th birthday she got me a truck close enough to my dream truck, a 65 gmc. It will come back around, you will have that car again with your success, I wish you the best. If I can do it, anyone can.
Sad to see Loewen Upholstery brick n’ mortar gone. Brian & team did an amazing job rebuilding my seats & color matching blue black leather on my 74 Porsche 911S. I know he’ll be around, but it was nice to drive by and stop in.
Can't drive it though, since it's made of glass. And collector logic dictates actually driving a vehicle makes the value plummet. The 355 is good to keep for now while it appreciates. The 348 would've been the one to keep long-term. If it had been me I would've sold something else.
Very cool. Sad to see the 348 go as you've had only good things to say about it, and what a unique specific car to own. But it's time had come, and it allowed for something else cool! Best of luck in the real estate endeavor, we're here to watch!
I lived in Andover KS in the early 00's for a few years not too far from where Hoovie lives now, and my ex has family all over KS including Newton where this building is(I've been by it before), and I can say there would not be enough traffic for a coffee shop to turn a profit in a town the size of Newton, as it's mostly rural farmland as you can clearly see in his videos when he drives up to the Car Wizard's shop, or takes a car out for a spin near the shop, in fact in one video they end up at a dead end dirt road.
@@CommodoreFan64 there might be because of YT.. people drivin a day to show up there for the 'gram or whatever. Probably not for the coffee or fish sandwich since this is kansas, after all.
Make it a merch shop with a few cars on display. Take the tax deduction though your schedule e. I wouldn’t worry about a tenant with how low rental rates are there.
I am a 57 yr old semi retired contractor,fully licanced and qualified..I love what you do here and saw a chance to be a part of it..so pls...let me help you through the pit falls of property mang.and repair
Investing commercial real estate is a smart move as most real estate appreciate in value. As a commercial real estate expert a CCIM and a car guy, that price 75k is great at $21 psf and one cannot build that building today with that price even the cap rate is kind of low due to the low rent. The highest and best use is to put in a brewery eatery place with weekend live entertainment and put in one of your cars to exhibit and talking piece for customers. The smaller space can be a coffee shop hang out! One day I like to come to Newton and buy up most of the commercial properties as it appears it is so inexpensive. Then again I need to find out the demographic of that area! Decades ago my friend bought a new F355 coupe. He told me I can drive it anytime. I told him I cannot afford his insurance deductible!
Paint the ceilings black and create a Hoovies Showroom. The addition can be your office, storage and maybe a modest snack bar/coffee shop like the Lexus dealerships
75k is what parking spots cost here. Since its most likely a zero sum investment you definitely need to do something "dumb" with it. Like a giant cat cafe, or a showroom for terrible hoopties, or a hooptie showroom overrun by cats.
10:10 I wouldn't be so sure that was someone else's property. It's entirely possible the neighbour is using it without your knowledge. Most properties have a set back from the property line so there's no WAY they'd own right up to your wall. That's just not possible.
Yeah, that seems a bit shady. The neighbor might own it, but more than likely, you're right. I guess they could have asked the owner but probably not, like you said, again. Sorry for beating a dead horse on that point.
Who knows? It's just something Tyler has to check on. It could go either way. I used to have a garden in a city easement for a utilities. No one knew or cared. The house behind that building could have begun to use the property and the owner just didn't care.
Don’t wait until the market skyrocket again then you start biting your fingers wishing you made the decision to invest. bought my third house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made. Great video! Thanks for sharing! Very inspiring! I love this.
@Janet Soy I invest across the top markets but not by myself though. i follow the guidelines of MELISA PAMELA PEREZ . you might have heard of her.. I can correctly say she's worth her salt as a investment advisor as her diversification skills are top notch, I say this because i see that in her results as my portfolio grows by averages of 20 to 3O% on a monthly basis, unlike i can say for my IRA which has just been trudging along. my portfolio just mirrors what she place and not just on some particular industries of my choosing.she gave me that financiaI freedom I needed
@Janet Soy look her up on the internet and leave her a message she's quite popular for her services as she was recently featured on cnbc. She can work with anyone irrespective of where your located
@@samsonyin7782 This is a shocker seeing melisa pamela perez is being mentioned here. I always had mixed feelings about hiring a lnvestment advisor. For the record, I started working with melisa in 2019, and she manages about 70% of my lnvestments, while I manage the other 30%. My philosophy is that I care more about my own money than anyone else, but she made me accept that they have wealth of information on current conditions and future trends
Hey Hoovie, congrats on the purchase, really cool to see you grow and become so successful. I personally have no interest in real estate, so I'll continue to watch the car videos, but that builduing definitely has lots of potential.
You'd be surprised just how strong a wooden floor can be. With some engineering and planning, it will hold your cars. And it is probably not that expensive of an upgrade for the building, either. Congratulations and best of luck to you!
Move all your cars into the building so they can be viewed and add a Hoovie's burger place and bar. Oh, and the little stage is where the Pole for the dancer goes.
Love this, we bought a small office building at the end of 2019 in a small town. It wasn't the greatest cash flow decision but who knows 20 years from now it may work out.
