Duplex or ice machine

[Patt]

I am inheriting property in sulphur on hwy 90 across from frasch park. I am wanting to put either an ice machine or a duplex on the property it is 1 acre. I am leaning more toward the ice machine because of the location and costs and the tournaments at frasch would be a big income on the ice machine I believe. With a duplex I could take advantage of the acre and be able to write them off for taxes but the railroad runs directly behind the property and would be a noise problem for renters. Any input is greatly appreciated

[mcjaredsandwich]

Take necessity and already available options into consideration. Are there other duplexes for rent close by? Apartments? Any school? Restaurants? Gas stations? There need to be consumer attractions in the close vicinity if taking the duplex route.

[swamp snorkler]

Take necessity and already available options into consideration. Are there other duplexes for rent close by? Apartments? Any school? Restaurants? Gas stations? There need to be consumer attractions in the close vicinity if taking the duplex route.


You could say the same for the ice machine, is this a heavily traveled route on a way to boat launch, near a subdivision?

People will go out of thier way to get home, some may even like a place with not to much traffic, They not going very far out of their way to get ice.


I'd go the duplex route. You could put 4 plex on an acre. Put some big shrubs on the property line to try to keep the noise down and use some double pain windows.

[mcjaredsandwich]

You could say the same for the ice machine, is this a heavily traveled route on a way to boat launch, near a subdivision?

People will go out of thier way to get home, some may even like a place with not to much traffic, They not going very far out of their way to get ice.


I'd go the duplex route. You could put 4 plex on an acre. Put some big shrubs on the property line to try to keep the noise down and use some double pain windows.

Yeah I'm not arguing for either one. Just things to think about

[T-TOP]

Where's it at from the hwy90-Claiborne intersection?

[Reggoh]

Why not put an ice machine AND a duplex? :)

[Patt]

The corner lot across from the BBQ place

[T-TOP]

Ice machine is what I would do.... Lower overhead and investment.

[fishinpox]

Put a 4 plex and a ice machine . Ice machine is cash $ and the 4 plex is good mailbox money that you could have paid off quickly if u play your cards right . If u don't want to do both I'd do a 4 plex

[Bluechip]

Most of the people in that part of town are on Section 8 housing.

I don't think you will find many renters willing to pay the money to rent at that location unless the rent is very cheap. I don't know how all the government housing works but I grew up north of the tracks and I do know that area is turning into a rough climate.

I would be very cautious before I invested too much money.

In response to the ice machine, I think it would be a perfect location. Very busy intersection right there.

[bjhooper82]

Personally, I wouldn't want the head ache of dealing with renters. I'd go the ice machine route.

[swamp snorkler]

Snow ball stand?

[mriguy]

Ice machine and Auto carwash that accepts debit cards

[Patt]

I actually thought about a car was also and may do one in time but I think the ice machine is the way to go

[weedeater]

section 8 rentals are better money many times then non section 8 due to fact that section 8 is government assisted rent and these people dont expect things as nice as the people paying their own way plus like Pox said you can still put a ice machine on a corner

[cduhon]

I would NOT think that would be good area for ice machine, I live north of there and it is out of way for most work and boat traffic. That is why that BBQ placed and several other food places never made it right there. Mostly local traffic and a lower income area. Ice machines have lots of maintenance and I do not think you would ever sell enough ice to justify it right there. Duplex or commercial office building would be my vote. I got several buddies who own big ice machines and location is the key, and I do not think that location is a good spot for ice machine. Just my 2 cents.

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[Patt]

I was gonna go with the smaller ice machine not a huge one but I'm gonna have to have a traffic count done and figure out all the legalities and costs and an average gross income of the duplex and ice machine before I bite the bullet on one. I'm just trying to have another source of income and The property is free so I have a decent chance at establishing an income from it

[cduhon]

Totally understand. I got couple rentals myself and looked at getting ice machines but saw the headache involved with maintenance. I pass that way every day and to be honest most of traffic is local and a lot of foot and bicycle traffic. Think putting an ice machine right there may be more like a stop and rob.

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[Patt]

Yea I agree on the stop and rob

[Mako19]

I never understood how these ice machines make money but I have heard that if put in the right location some people make a killing off of them!

I have tried the one on the way to cypremort point before and found that the ixe melted wayyy faster than the slow melt ice.
I would.prefer to go into the store and pay a little extra for slow melt ice but I know a lot of people love these ice houses.

Also, I have heard some rediculous numbers as far as how much it costs to build one of these ice houses.
Anyone who know care to share approximate numbers on the cost of these houses?

I would recommend a car wash. It sounds like it would be the right part of town for a good car wash.
Ever since Classic Auto Spa opened in Lafayette at Johnston and Camellia strret that thing has stayed packed!
I could not imagine how much that piece of property cost but they have to be making a killing!

[cduhon]

Ice machines start at $60K and north of $100K for big nice ones. Smaller ones are cheaper but do not have storage capacity. Car washes also seem a bad investment for that part of town, mostly older cars and bicycles in that area. Always car washes for sale around Sulphur. They are also very high maintenance.

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[slickfish]

Make due when i deposit my 1.75 it plays "ice ice baby" like the one in Jasper. Best bang for your buck.

[Raymond]

I am inheriting property in sulphur on hwy 90 across from frasch park. I am wanting to put either an ice machine or a duplex on the property it is 1 acre. I am leaning more toward the ice machine because of the location and costs and the tournaments at frasch would be a big income on the ice machine I believe. With a duplex I could take advantage of the acre and be able to write them off for taxes but the railroad runs directly behind the property and would be a noise problem for renters. Any input is greatly appreciated


1. People will not be entering Frasch park from Hwy 90.
2. People will not cross 90 for ice unless you have a Big Azz neon sign to advertise you have the coldest ice in Sulphur (non melting that is).
3. Don't expect any bank to front $$$ for any commercial venture on the north side of hwy 90 unless you are all IN.
4. Have you looked at any of the other so-called apartments east of your location?
5. Best bet at that location would be Crack/Meth vending machines since the vast majority of it is made locally.

Choose wisely, this investment could actually be detrimental to your long term financial goals.

[Patt]

It's definitely not my ideal location but its free and I don't want it to go to waste

[mriguy]

Drive through liquor and cigs!!! Thank me later

[Raymond]

Drive through liquor and cigs!!! Thank me later

Genius!!!!!!!!!!!!!!!!!!!!

[drpuldo]

Do check cashing. I knew someone who had one in Abbeville and made a mint cashing checks and selling Liquor.

[MossLake]

1. People will not be entering Frasch park from Hwy 90.
2. People will not cross 90 for ice unless you have a Big Azz neon sign to advertise you have the coldest ice in Sulphur (non melting that is).
3. Don't expect any bank to front $$$ for any commercial venture on the north side of hwy 90 unless you are all IN.
4. Have you looked at any of the other so-called apartments east of your location?
5. Best bet at that location would be Crack/Meth vending machines since the vast majority of it is made locally.

Choose wisely, this investment could actually be detrimental to your long term financial goals.

^THIS^

[MossLake]

drive through liquor and cigs!!! Thank me later

^and this^

[huntin fool]

Drive through liquor and cigs!!! Thank me later

Literally your best option. Played at trash... I mean Frasch the other day. Forgot all the hootchies over there. No need for ice when they drink Forties

[homerun]

if it was free and want to make money. sell the lot

[Pull n Pray]

Ice machines start at $60K and north of $100K for big nice ones. Smaller ones are cheaper but do not have storage capacity. Car washes also seem a bad investment for that part of town, mostly older cars and bicycles in that area. Always car washes for sale around Sulphur. They are also very high maintenance.

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How will you be paying for the ice machine? Cash or loan? Interest rates on that type of investment or going to be really high. What kind of return on your investment are you looking for 10%, 20%.

[marshrunner757]

In that area? I say buy an older trailer and rent it or just sell the property.

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[Msucowpoke51]

I would recommend a car wash. It sounds like it would be the right part of town for a good car wash.
Ever since Classic Auto Spa opened in Lafayette at Johnston and Camellia strret that thing has stayed packed!
I could not imagine how much that piece of property cost but they have to be making a killing!

Definately wouldnt do a car wash ... Car Wash + lower end neighborhood (to put it nicely) = Drug Dealing Capital of the city :work:

[Raymond]

Used tire store?

[cduhon]

Used tire store?

Raymond, already a used tire store 2 lots over. Maybe an Old Milwaukee Outlet store? Or bail bondsman office?

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[Top Dawg]

Buy an old mobile home for cheap. Put $1500 into it and do rent to own. Get your $1500 back on down payment and rent to own say for $15,000 at 15% interest. It's rent to own so you are not responsible for any repairs or fixes. Most of the people you will be dealing with most likely will have bad credit. So that's the only route they can go until they get approved for something better. Chances are you won't have anyone stay much longer than a year then you repeat the same steps again. That way you're not renting it, they are buying it and you don't have the headache of goin in and making repairs all of the time. And believe me it will stay booked. Always someone looking for a place to live.

[cduhon]

Buy an old mobile home for cheap. Put $1500 into it and do rent to own. Get your $1500 back on down payment and rent to own say for $15,000 at 15% interest. It's rent to own so you are not responsible for any repairs or fixes. Most of the people you will be dealing with most likely will have bad credit. So that's the only route they can go until they get approved for something better. Chances are you won't have anyone stay much longer than a year then you repeat the same steps again. That way you're not renting it, they are buying it and you don't have the headache of goin in and making repairs all of the time. And believe me it will stay booked. Always someone looking for a place to live.

I have 3 I am doing this with, like Top Dawg said it will stay booked but be prepared for massive clean up, broken water lines, rotten food, flea infestation, and always painting when they move out. Mine pay but always late and always an excuse. I would put 2 duplexes there. Build them small and efficient, stained concrete floors and very simple. Then Section 8 them for guaranteed income.

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[cajunkid]

Patt, here is an idea that is zero effort, secure, and profitable. Find a commercial realtor. Partner with a property developer. Sell the lot with owner financing. Example. $50,000 at 10% x ten year simple loan = $660.75 per month. When the last 120th payment is made you $79,290 total on a 50k sale. Each year you would realize $7,929 of income. If your age is less than 50 years old, you can put $5,500 of that money in a traditional IRA and not pay taxes on it. Or better yet, put it in a Roth IRA and use the difference to pay the tax up front. (the beauty of the Roth is that your withdrawals are then tax free) If you then took the IRA money and bought a dividend stock (like McDonald's stock) and reinvested the dividends, you'd be making another 5 K a year after another 10 years in dividend income. So you basically make 10% on your money per year almost 100% tax free, then have a lifetime of dividend income after that, and don't have to sweat a thing. If the developer defaults, your loan is in first position. If the complex is sold, you get paid first.

[cajunkid]

Patt, the high advantages of the above idea are: 1.) you avoid the huge tax hit of selling the property in a lump sum 2.) you turn the property from a net income loser (you have to pay property taxes), into a life long income producer. 3.) it makes the money passively, your time in then spent making money in other ways.