Hey guys,
So approximately 2 years ago my dad inherited a warehouse in Lebanon which he hasn't been able to do anything with yet, since it is stocked full of old inventory (wood veneers) which he hasn't been able to sell yet, due to the difficult economic situation in Lebanon.
I have been sitting on the sidelines, since I did not want to get too involved (its my dads warehouse, not mine), but on the other hand, I feel like he will easily let another 4-5 years pass by without making ANY money from this thing. I feel like its a waste, especially since he is also tight on money and hasn't had a job since 1 year.
Here are the options as I see them:
1. Sell the wood veneer inventory at a fire-sale price to be make space in the warehouse and be able to rent out the warehouse for monthly cashflow (I have no idea how much it can be rented out for, my dad says 700-800$ per month). I assume the realistic price would probably be more around 400-500$ per month (BUT STILL BETTER THAN NOTHING!).
2. Sell the wood veneer inventory at a fire-sale price and use the warehouse to make an own business out of the warehouse (any ideas from people that have experience in this field?).
Would be great to hear ur feedback and what you guys think. I know that I did not provide a lot of information, but if someone with experience finds this thread and has some ideas, please let me know and I can find out more information! I have also attached 2 pics of the warehouse from inside.
Best,
Champion
So approximately 2 years ago my dad inherited a warehouse in Lebanon which he hasn't been able to do anything with yet, since it is stocked full of old inventory (wood veneers) which he hasn't been able to sell yet, due to the difficult economic situation in Lebanon.
I have been sitting on the sidelines, since I did not want to get too involved (its my dads warehouse, not mine), but on the other hand, I feel like he will easily let another 4-5 years pass by without making ANY money from this thing. I feel like its a waste, especially since he is also tight on money and hasn't had a job since 1 year.
Here are the options as I see them:
1. Sell the wood veneer inventory at a fire-sale price to be make space in the warehouse and be able to rent out the warehouse for monthly cashflow (I have no idea how much it can be rented out for, my dad says 700-800$ per month). I assume the realistic price would probably be more around 400-500$ per month (BUT STILL BETTER THAN NOTHING!).
2. Sell the wood veneer inventory at a fire-sale price and use the warehouse to make an own business out of the warehouse (any ideas from people that have experience in this field?).
Would be great to hear ur feedback and what you guys think. I know that I did not provide a lot of information, but if someone with experience finds this thread and has some ideas, please let me know and I can find out more information! I have also attached 2 pics of the warehouse from inside.
Best,
Champion
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