Photography Studio

I know the intro talks about starting a Coffee Shop and a Photo Studio. We have been so consumed with running the coffee shop that the studio has fallen by the wayside. That is OK, though... It has been our plan to get the shop running efficiently, then start concentrating on the studio marketing. Well, I have been getting lots of inquiries about doing portrait work, product photography (especially jewelry), and renting the studio out to other photographers. Some want to use it for a studio, and others want me to install a projector and screen so they can use it as a session viewing room. They are professional photographers who work out of their home (meaning they do on-site photography like weddings and other events, on location photo sessions, etc). They have grown to the point that they want a professional location to do session reviews and take orders for prints in a setting other than their living room. I have also been asked by 5 different individuals or groups to teach a Photoshop class. These are all professional photographers who want to learn more about digital work flow and image preparation for print.

As a result, I am going to begin setting up the studio with my equipment. We are not ready to do so, with regard to progress on the Coffee Shop. But... if the demand is there, why ignore it?

I am also in a bind with regard to one of our rental houses. I have had renters in it for 2 1/2 years, and the lease has converted over to month-by-month. They wanted to stay for another two years minimum, but we have to sell the house before January to avoid capital gains taxes. If we go past January, then it will not make any sense to sell if for at least 10 years after that. We could really use the equity in it as operating capital for Nemo's. To make a long story short, we found a potential buyer, and that spooked our renters. They gave notice to be out by June 15th. The potential buyers found something that works better for them. That leaves me with an empty rental house that needs some work, and we do not have an income right now! I am going to advertise it for sale at $20,000 less than the assessed value. I have put together a project list for it, and it needs about $6000 invested it it (along with my own labor) to get it into great shape. That includes these major points:

Demo shower/bath tub in upstairs bathroom and replace.
Complete downstairs bathroom demo and reinstall.
Refinish hardwood floors upstairs.
Paint and reinstall 24 custom cabinet doors in the kitchen.
Paint the outside gutters and trim.
Fix the white poly-vinyl picket fence (neighborhood kids have broken it in a number of places)
Needs paint in most rooms inside.

There are some other odds and ends, but that list captures most of the issues. I'm going to start doing the work myself, and the $20,000 discount will go down as I finish projects. Optimally, I'd like to find someone to buy it at $20,000 under value. They can put $6000 and some labor into it and have $14,000 equity instantly. ANYBODY WANT TO FLIP A HOUSE IN COLORADO SPRINGS???? CALL ME!

Time for bed...
Later,
JD