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 $750. 4 x 4 crew cab 2006. A buddy was loading some lumber into it and bashed it against the fender...OH mikey sorry, jeez I didn't mean to do that. I took one and banged it hard, "don't worry about it". lol Then there was the time a customer was helping me unload a large sign out of the back seat, he banged it against the door OH SHIT SORRY. Me? I kicked the door, "don't worry about it" lol I'm not saying for out and load lumber onto it, but if you come out of the grocery store with a door ding, yeah, nothing to freak out about.
Started out watching a guy build a hooptie fleet, now watching a guy invest in assets which will appreciate over time and setting up his family for a long term comfortable life. Good job Tyler!
@@thelastmemphian Which in no way takes away from what he has accomplished. He creates content that entertains millions, he helps out folks in his community. He's a good person.
@@thelastmemphian they earned it. tyler still has his own budget and options to consider. my enthusiasm for the channel has diminished greatly since he started buying 100k$ cars but.. he's no moron.
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.
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...
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.
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!
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.
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.
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
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?
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..."
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
"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
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.
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.
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.
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!
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.
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
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
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.
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!!
Interesting move, but I think it will cost you a lot of viewers if you start posting real estate videos on your car channel… maybe make a second channel for that.
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.
I think you’re definitely smarter than you lead on to be. Very wise decision, invest your RUclips 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 .
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.
... 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!
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
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!
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.
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.
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.
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.
Tony Romano You've never been in real estate, huh? This will only work financially as video fodder as the repair and remodeling bills come in. I think we are going to see a new character in his videos. A "Contractor Weezeerd".
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.
You are such a great guy, always fun to watch in whatever adventure you take us on. Just be careful, real-estate investments, can make you lots of money, but also can be very costly as well.
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.
Hear me out.. you might need to reinforce that floor, so it can be a dealership that doesn't sell any cars. The Dumbest Dealership; just a showroom for your "dumbest" Hoopties, complete with window stickers showing all the costs and parts you've invested into them. It would technically be an art installation/gallery which I think, is tax deductible?
But Hoovie DOES sell cars - just not as often as an actual dealership. I’m guessing he has his youtube channel set up as a business and a good portion of his collection and the cost of the garage as well as all car repair bills likely gets expensed properly to the business. I can’t imagine what he would personally do with that building, but maybe he can make some money renting it out. Commercial real estate space is tricky - even in booming busy towns, some commercial real estate property can sit vacant for years.
you need to recreate your home's 11 car garage in a commercial space, then film from there, sell merch, open it to the public, and store cars there ... and maybe even build or work on one or 2. Oh yeah, I'm sad you don't do motorcycles. And you'd still have space for 11 cars at home.
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
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!
Wow for $40k I would have thought about that one! What Tyler needs is a 981 Cayman S. Far more practical and way faster than the F348 and faster than the F355. Good luck with the real estate investment, but I think your timing is off....
@@cloudyview I know the channel well. Trust me, there is a reason that Tyler doesn't own a 981 Cayman S. Or at least one that he shows on his channel...
It is sad to see the 348 go away, but at least it is with someone who Hoovie knows. 348s look great, drive great, are more reliable than certain other Ferrari cars such as the 355, and I love the bus seat fabric. Personally, I like the look of the 348 better than the look of the 355. The 355 is a better investment in the long-term, though. Also, that is a nice building and it is interesting to see Hoovie getting into the real estate business.
While I like Hoovie, I'm getting a little tired of RUclipsrs posting expensive things they've bought because of us watching their content. It's not interesting and takes away from their regular content. After all we don't see episodes of our favorite TV presenters bragging about what they've bought from their salary, so why should it be any different for RUclipsrs
It's how they get millions of views. Most of them could care less about what they need to do to earn money, it's about them getting paid using whatever clickbait or other thing they need to promote. The building for 75k was a steal, and you could put all sorts of tenants in there and make your money back within a few years.
@@jeremyTallen1 I guess we watch the show for different reasons, I watch it for the cars and Hoovie is second. The cars have to be interesting or unique to grab my interest and the expense of the car is irrelevant to me.
I been watching him for what seems like years, I get your point, but these supercars and all their faults is the sole reason he has 1.39m subs, Tavarish did the same and he is now over 2m subs, I will never own any of these, never work on any of these cars, but still watch each episode like many others, if he had a compact euro probably no one would watch him.
Hey Hoovie! I think it would be neat if you turned that building into a restaurant/coffee shop car showroom. Put one of your cars in the parking spot inside, and have some tables and chairs in the open area and create a fun unique place. People can then pay for a spot in your establishment and show off their car to the public. I think that would be amazing.
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.
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.
You should separate the old space from the new space. Put a single stall restroom in and turn the new, smaller space into an all-ages venue that you can rent out to young artists for music or art stuff. It could also work incredibly well as a small comedy club. You have the stage for it and the back room could be a greenroom for the artists. Just a thought!
Do it in phases and update the bathroom to avoid being overwhelmed. One large renovation will bring the city and fire Marshall into the mix and costs will increase.... If it can be split into multiple units with additional bathrooms, thatll maximize the space
As an owner of a commercial building I wish you a lot of luck; if you think that the Wizzard is expensive, just wait until your HVAC needs to be replaced or a pipe bursts flooding the building; you may be surprised how quickly mold starts to grow and then you need to tear out walls to repair the mold damage... We won't even begin to talk about how sniveling tenants can be...
Me and Hoovie will end up owning half of Newton 30 yrs from now.
probably a good return on that in 30 years too
Wheeeeezard!!
Weeeezard
You could build a theme park and call it Hooptie Land.
You'll just be too old to enjoy it.
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.
ruclips.net/video/GTHlCk7fEOY/видео.html finally it's here..
And it'll get driven !
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 $750. 4 x 4 crew cab 2006. A buddy was loading some lumber into it and bashed it against the fender...OH mikey sorry, jeez I didn't mean to do that. I took one and banged it hard, "don't worry about it". lol
Then there was the time a customer was helping me unload a large sign out of the back seat, he banged it against the door OH SHIT SORRY. Me? I kicked the door, "don't worry about it" lol
I'm not saying for out and load lumber onto it, but if you come out of the grocery store with a door ding, yeah, nothing to freak out about.
I agree 100% I thought of it as a fixture of the channel.
Started out watching a guy build a hooptie fleet, now watching a guy invest in assets which will appreciate over time and setting up his family for a long term comfortable life. Good job Tyler!
The Hoover family is extremely wealthy, his life would be comfortable no matter what
Shut up
@@thelastmemphian Which in no way takes away from what he has accomplished. He creates content that entertains millions, he helps out folks in his community. He's a good person.
@@thelastmemphian they earned it. tyler still has his own budget and options to consider. my enthusiasm for the channel has diminished greatly since he started buying 100k$ cars but.. he's no moron.
For being the dumbest automotive channel on RUclips..He's really smart
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.
Given Hoovie's reputation, i'm sure it'll be the finest Video Rental store in town. lol
How did you get there? Hoovie's a multi-millionaire. Haven't you been watching?
@@zephead843 < last guy in the room who gets a joke. lol
Flopbuster Videos, brought to you by Hoovie. LOL.
video rentals 😂😂. People coming to rent Chuck Norris movies on VCR tapes
@@doostar6875 But think how cheaply you could buy those VCR tapes. Genius move ..... LOL
Thank you for the opportunity to purchase the 348, couldn't be happier with it! See you soon!
In your opinion: How ugly are those seats? xD
@@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.
@@sidebproductionsllc8353 Oh no, don't respray it. Old cars deserve some patina :)
@@sidebproductionsllc8353 kinda like the seats, though.
But that's just me, I like cars that visually are a bit ratty, but technically well sorted.
Is this your first Ferrari?
Hoovie going into real estate right as we're going into an economic downturn is really on brand for Hoovie
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...
If you can afford to lose out buying exotics you can afford half a decade of sluggish capital appreciation on a real estate investment:)
This is the kinda plot twist I wanna see! From successful to risk it all!!
Bravo & Godspeed!!
I'd love to see a creator come through and maybe do a collab of some kind.
He paid cash for it. That's hardly risking it all.
ruclips.net/video/GTHlCk7fEOY/видео.html finally it's here..
Risk it all when his family is rich to begin with....okay then 🙄
75k....you see how many cars he has....this was a whim
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.
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!
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.
I think there is a chance that he is, he just didn't want to reveal everything in this video.
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.
that's what I said
.
He should open up the Newton rub-n-tug massage parlor.
Slum lord
gambling den / crackhouse / brothel - for maximum returns
@@amelyntan1990 I like the brothel idea, Hoovie will have to run it by hand at the beginning though.
There has got to be some building inspectors watching this having a heart attack over that sink next to all those electrical boxes 😬
Yeah, a likely code violation, they might make you re-do that. All you need is a broken faucet spraying water all over the electricals...yikes.
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
As well as that non-ADA compliant bathroom, too many people out there who make a living looking for that stuff so they can sue.
The electrical next to a sink might have been allowed at some point and grandfathered in. Its not the first time I've seen that.
Think it's like 6' is the rule
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?
OMG LETS GOOOOOOO @GTOger please come back!!!
DRUMBEATS
you always need security cameras
*DRUMBEATS INTENSIFIES*
I miss binge watching your videos!
Restroom is not ADA compliant. First remodel project in the new space...upgrade the toilet facilities.
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."
ruclips.net/video/GTHlCk7fEOY/видео.html finally it's here..
actually he knows a lot about cars.
many of his hunches are spot on.
I like he sorta just "plays the fool" for the camera sometimes.
@@Ronaldo-eu1nz I'm writing a bot to report this tripe, BTW.
@@dafff08 right but he doesn’t work on them himself so some people say hes not a “Real car guy”
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..."
Gene Hackman, if I recall? 😁👌
Tyler Hoover: always making RUclips cry in laughter thanks to his dumb shenanigans. Please NEVER STOP!
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.
@@Chris-hw4mq Hoovie's dumb shenanigans are no different from Warren Buffet's dumb shenanigans.
@@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
I would save the “going out of business” sign. You may need it in a year or so.
"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
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.
No one cares
The perfect time to get into real estate. There’s hardly anything available and it all costs double.
lol!
^^^^^^
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.
keep that sign from the window it will come in useful sooner or later lol
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.
there's definitely an easement somewhere.
That's completely inaccurate. It was extremely common to build to the property line in the past.
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.
@@rsporter Yes, downtown buildings are often built to propety lines.
That air conditioner is R22. That refrigerant costs a fortune now. It’s about 2k a jug.
I love cars and that's why I'm here, but I find it really exciting to see what you'll end up doing with this new building.
Great move, not dumb at all. Please inspect and seal where walls meet concrete sidewalk. Great location and size for a Quick Check. Best of luck.
I drive past that building almost daily and this is the first I've ever seen of the inside. Interesting.
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!
As an electrician, those electrical disconnects beside them sinks NEEDS to be dealt with as soon as possible
Right. Because in the decades they’ve been there they had no issues, but NOW it’s a problem…
That could be the office you need to renew your dealer's license and save money on registration for your cars
This is totally the plan, he's just stringing us along, he's not as dumb as he likes to say haha.
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.
Check for mold damage. If you plan on spending much time in this building you'll want to have it removed.
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
I always stick all my electrical circuits in my shower, helps me feel safe.
I think you kept the right Ferrari. It is a beauty - but the engine sound is divine!
Good luck with the real estate - could be a winner at that price.
Now you’re investing the smart way Hoovie! Buy them buildings…let the cars take the losses! Lol
ruclips.net/video/GTHlCk7fEOY/видео.html finally it's here..
until the housing market crashes from being pumped so high on pure speculation
@@Ronaldo-eu1nz omg its finally here!!
@10:00 - That condenser unit is probably 20 years old. But other then the surface rust on the fan cage it looks decent.
“Modern hvac”
Best place for Hoovie‘s Arcade with all Racing themed Arcade Games in the world.
I can't believe that the 348 is gone, but this shop opens up so many new oppertunities.
so does this mean there's going to be
" the dumbest auto mechanics on RUclips" coming?
Isn't that tavarish?🤔🤣
No , tavarish work without help from the manufacturers is next level.
@@josvercaemer264 i mean, id be all for it lol
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
ruclips.net/video/GTHlCk7fEOY/видео.html finally it's here..
As much as i love the 348, a Rock spec 355 is part of most peoples dream garage , correct choice Tyler
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.
@@macgroober1396 I’d sell the murcey or the Bentley
That is a absolute steal…
Here in cali that’ll be 400k
It would be about $4+ million in cali
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!!
Interesting move, but I think it will cost you a lot of viewers if you start posting real estate videos on your car channel… maybe make a second channel for that.
I truly hope you had that building professionally inspected before you bought it.
As inspected as his cars are
he's going to find a real estate wizard and make him rich enough to go to space
most of those guys don't have a clue.
Professional inspection🤔🤣🤷No such thing! If you pay and later sell if the lazy idiot misses something forget making the lazy idiot pay!!
hoovie may look and act like an idiot but he isn't.
You should buy a classic audi with a 5 cyl turbo engine. A urs4/urs6 would be awesome!
Sounds like an endless money pit
@@M447DT he should buy a toyota celica and nothing else
what is a urs4 urs6???🤔🤔🤔
SQUIRREL!
@@Andy-gti ursprünglich s4/6
*Everyone:* Economy sinking into recession, world-wide shortage of everything, overly inflated real estate prices, sky-high inflation
*Hoovie:* Lets buy this dump...
Buying the dip.
@@nexusyang4832 the dip is just starting
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.
I think you’re definitely smarter than you lead on to be. Very wise decision, invest your RUclips 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 .
I am sure this bullding will be useful, turn it into a coffee shop and do weekly cars n coffee there
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 Maybe it'll become a small gym or something like that. Wasn't the original gym hit by a tornado?
@@MyRegardsToTheDodo That was the YMCA, and they will just rebuild that on the same site.
@@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.
Newton is probably a good place to put an investment. the car wizard's shop-front selfie will be IG worthy among the car folk.
I love the building purchase. Building has a lot of potential and I wish you success with it 🙏
Just remember the magic words to your tenants: "If it were any nicer, you couldn't afford it"
They won't stay long in that building. No matter the price. This screams bankruptcy.
Just get out of NYC and you'd be surprised what you can afford Louis Rossman.
Give it the ol' Eugene makeover
Another Title/Pay day loan location, that way hoovie can borrow more money for crazy hoopties
... 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!
The electric panels right next to the sink? That surely cant be allowed! Especially if you are renting it out
No 100% can't do that. Easily gonna kill someone
Not to mention what looks like a Federal Pacific Stab-lock sub panel in that addition. Dangerous stuff.
Will need to be entirely rewired
Honestly I think you are gonna be a great investor . Congrats on branching out.
ruclips.net/video/GTHlCk7fEOY/видео.html finally it's here..
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
I don’t know how legal the main electrical to the building being next to a sink is 😂
Stoked on new direction of the channel please get in depth with how u do everything as I think everyone wants to learn with you!
Congrats Hoovie. Allways Looking forward to you videos.
ruclips.net/video/GTHlCk7fEOY/видео.html finally it's here..
When he opened those hatches, I was expecting the Wizard. First, because he's some kind of Wizard, secondly, as a callback to his RV prank.
I have a pitch
Hoovie the movie
Starring Owen Wilson as Hoovie
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!
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.
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.
a cat cafe would turn a profit. i'm as floored as you.
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.
It is absolutely shocking to me that you can buy a 3500 sqft building for 75 grand! Amazing.
Welcome to middle America.
get out of the coasts and move to the Midwest where things cost what they should cost.
I live in NYC, you couldn't buy a 500 sqft apartment for that money lmao :(
Watch JR go got a building 10x as big for 250k
Selling the Ferraris to avoid Wesley Snipes type tax man problems 😂
Gotta KEEP MOVING FOWARD!!!
Looking forward to see where this 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.
$75,000 for the hole building is just insane bargain, here in Phoenix for 75k you get a shotgun trailer home from 1,969. Yep time to move on.
Congratulations Tyler, your hard work is paying off. That’s what life is about. You deserve it.
Tony Romano
You've never been in real estate, huh? This will only work financially as video fodder as the repair and remodeling bills come in. I think we are going to see a new character in his videos. A "Contractor Weezeerd".
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.
Really hope this works out for you Hoovie!
You are such a great guy, always fun to watch in whatever adventure you take us on. Just be careful, real-estate investments, can make you lots of money, but also can be very costly as well.
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.
That's is exactly what I thought he was going to say he was doing with the place
Hoovies garage Museum & Merch.
You think there will be a lot of in person visits to his merch shop?
@@stephen3164 not likely but reduce tax implications.
Once you open a wall up you open a can of worms. Trust me I know from experience 🤣
This is it boys, this is the top! Hoovie started investing into real estate! Sell all your real estate and buy up old Ferraris instead.
Hear me out.. you might need to reinforce that floor, so it can be a dealership that doesn't sell any cars. The Dumbest Dealership; just a showroom for your "dumbest" Hoopties, complete with window stickers showing all the costs and parts you've invested into them. It would technically be an art installation/gallery which I think, is tax deductible?
But Hoovie DOES sell cars - just not as often as an actual dealership.
I’m guessing he has his youtube channel set up as a business and a good portion of his collection and the cost of the garage as well as all car repair bills likely gets expensed properly to the business.
I can’t imagine what he would personally do with that building, but maybe he can make some money renting it out. Commercial real estate space is tricky - even in booming busy towns, some commercial real estate property can sit vacant for years.
you need to recreate your home's 11 car garage in a commercial space, then film from there, sell merch, open it to the public, and store cars there ... and maybe even build or work on one or 2. Oh yeah, I'm sad you don't do motorcycles. And you'd still have space for 11 cars at home.
Those breakers in the bathroom look totally safe. If im in the area, ill make sure to use the restroom while turning on and off the power
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
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!
As long as you REALLY know what you're doing with that building purchase, you'll be alright in the long run.
Wow for $40k I would have thought about that one! What Tyler needs is a 981 Cayman S. Far more practical and way faster than the F348 and faster than the F355.
Good luck with the real estate investment, but I think your timing is off....
Practical?! You must be new to this channel... 😁
@@cloudyview I know the channel well. Trust me, there is a reason that Tyler doesn't own a 981 Cayman S.
Or at least one that he shows on his channel...
Hoovie always ends up on top... I'm starting to wonder if this whole dumb thing is just an act 🤔
Nice find!! Stripers stage included? With a couch already in place and a backroom? This was a no brainer!! Congratulations!!
It is sad to see the 348 go away, but at least it is with someone who Hoovie knows. 348s look great, drive great, are more reliable than certain other Ferrari cars such as the 355, and I love the bus seat fabric. Personally, I like the look of the 348 better than the look of the 355. The 355 is a better investment in the long-term, though. Also, that is a nice building and it is interesting to see Hoovie getting into the real estate business.
While I like Hoovie, I'm getting a little tired of RUclipsrs posting expensive things they've bought because of us watching their content. It's not interesting and takes away from their regular content. After all we don't see episodes of our favorite TV presenters bragging about what they've bought from their salary, so why should it be any different for RUclipsrs
It's how they get millions of views. Most of them could care less about what they need to do to earn money, it's about them getting paid using whatever clickbait or other thing they need to promote. The building for 75k was a steal, and you could put all sorts of tenants in there and make your money back within a few years.
I think it is awesome seeing a channel and people grow from small beginnings
@@jeremyTallen1 I guess we watch the show for different reasons, I watch it for the cars and Hoovie is second. The cars have to be interesting or unique to grab my interest and the expense of the car is irrelevant to me.
I been watching him for what seems like years, I get your point, but these supercars and all their faults is the sole reason he has 1.39m subs, Tavarish did the same and he is now over 2m subs, I will never own any of these, never work on any of these cars, but still watch each episode like many others, if he had a compact euro probably no one would watch him.
If this turns into a business real estate channel, I'm out. 😂
Hey Hoovie! I think it would be neat if you turned that building into a restaurant/coffee shop car showroom. Put one of your cars in the parking spot inside, and have some tables and chairs in the open area and create a fun unique place. People can then pay for a spot in your establishment and show off their car to the public. I think that would be amazing.
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.
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.
You should separate the old space from the new space. Put a single stall restroom in and turn the new, smaller space into an all-ages venue that you can rent out to young artists for music or art stuff. It could also work incredibly well as a small comedy club. You have the stage for it and the back room could be a greenroom for the artists. Just a thought!
Do it in phases and update the bathroom to avoid being overwhelmed. One large renovation will bring the city and fire Marshall into the mix and costs will increase....
If it can be split into multiple units with additional bathrooms, thatll maximize the space
As an owner of a commercial building I wish you a lot of luck; if you think that the Wizzard is expensive, just wait until your HVAC needs to be replaced or a pipe bursts flooding the building; you may be surprised how quickly mold starts to grow and then you need to tear out walls to repair the mold damage...
We won't even begin to talk about how sniveling tenants can be...
Modern HVAC is looking like end of life HVAC, but you go for it.
Go for it!, Hoovie!
Nothing like a building with modern HVAC units.