19
Rant: Is buying a storefront worth it or just a money pit?
I keep going back and forth on this. Renting a space in Midtown for my shop has been okay but my landlord jacked the rent up 15% this year. On the other hand my buddy bought a place in Hamtramck 3 years ago and now his mortgage is way less than what I pay. But then he had to drop $8,000 on a new roof last winter and that wiped out his savings. So what's the real deal here? Is owning your own building the move for a small Detroit business or does it just trap you with surprise costs? Any owners out there who can break it down for me?
2 comments