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Leasing a Morton building ?

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AC Diesel

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In my quest to build a new shop I ran across Morton Buildings ( lease to own) option.

I was wondering if anyone on here has done this or knows of someone who has?

Thanks in advance AC
 
Not knowing anything about it, I would think it to be a bad idea.

Many years ago a local successful Ford dealer built a nice new "state-of-the-art" (at the time) building on the outskirts of town, for better display of automobiles for sale. His first mistake was to not have title to the land where he built the new facility. Instead, he had a "99-year lease." Any viable financial institution would be much more enthusiastic about loaning money for a building if they also had say over the land where it was constructed. One of the Ford dealer's friends loaned him money to build the cement parking lot. Back in the 1970's, this was a $75,000 loan. For security, the loaner had "second mortgage" on a bunch of used cars. The lender never recovered the money from the borrower. Another lender who had "first mortgage" on the used cars got what he could, but the "second mortgage" on the same used cars was not worth the paper it was printed on. It also turns out that cement is not really what you would call a "liquid asset," :roll: amazingly enough. The original land owner came out alright on owning the land, and eventually was paid for its value. Lesson learned from my vantage point was that before constructing a building, make sure you own the land where it will set.

Like cement, a building is not really a liquid asset. My guess is that any lease arrangement to construct a building would be cost prohibitive as compared to simply borrowing the money to put up the building.
 
A friend of mine just priced a Morton vs. a General Store built building and the Morton was almost twice the price. I'd give Dave a call before you get too far into your planning.
 
I haven't received a quote from Morton yet, I figured it would be higher than going through a local lumber yard.
I just like the idea of having someone come in and building it in a couple of days, instead of waiting on a local carpenter who would screw around for a month building one.

I thought the lease to own was interesting because your entire payment for the year is tax deductible vs depreciating a building out for 17 years.
 
4Diamond said:
Big swede I like that quote from NR. You should post that on agtalk.
Click to expand...


That quote is about the most disrespectful quote I've seen about everyone in my family works nights. I'd like to know if anyone has been in need of a nurse or Dr. past cowboy hours.
 
http://vapconstruction.com/

These are way less than Morton building. Have close to twice the amount of lumber in them also. My little shop/garage is one of these. They go clear up in Wyoming so might be worth a call. Mexican crews come in and put them up. They don't bother anything and are done in few days, work till dark. Morton crew usually 4 white guys that quit at 5. My dad has two Morton storage buildings. They are pretty but sure cost a lot.
 
Big Swede said:
A friend of mine just priced a Morton vs. a General Store built building and the Morton was almost twice the price. I'd give Dave a call before you get too far into your planning.
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Do you mean General steel instead of General Store? If so we didn't have very good luck when we were trying to deal with them. As soon as we had a deal they started trying to up sell us. "You meant you wanted a clear span? That will be another $ 30,000. You want a roof rated for your snow load? That will be another $10000." We finally cancelled our order and then it really got high pressure. We had to get really harsh on them before they gave up.

We looked into leasing in order build a grain facility but with the depreciation we were looking at it wasn't going to be any better than borrowing the money for the project.
 
Denny said:
4Diamond said:
Big swede I like that quote from NR. You should post that on agtalk.
Click to expand...


That quote is about the most disrespectful quote I've seen about everyone in my family works nights. I'd like to know if anyone has been in need of a nurse or Dr. past cowboy hours.
Click to expand...
It went with a topic there the o other day meant to be light humor no disrespect to you and yours
 
Honestly, that was just NR's outlook on ranching - low input on the labor side and not doing the cow's job for her. Personally, I like the quote and don't think that anyone that relates it to ranching should find it offensive. That's kinda the way I am - if a cow has trouble calving around my place at night, she's gonna be in a helluva bind 'til daylight because I won't know about it.
 
We put up a Diamond H building, back in 2005. They were out of Oklahoma. The building showed up one week, the crew showed up the next week. Even with the sloppy muddy mess we had, they were done in 3 days. I would HIGHLY recommend them!
 
I built a Morton in 1973, bad paint, roof trusses that rotted, post that rotted off at the concrete, gutters ripped off by snow- - - on the third set of doors - - - and when we bought another farm - - - it had a Morton on it, When my son wanted another barn I told him build anything except a Morton.

He built a Morton about 8 years ago ( lowest price ) and we have had them out every year to stop leaks in the roof. The warranty is over now and we are going to replace the roof this year.

In my opinion go with any good builder except Morton! This is from someone with 3 Morton barns two of which we planned and watched go up.
 
After getting some quotes I'm leaning towards a stick built shop with me doing the construction :roll:
I will however pay someone to run the cement, I absolutely despise cement work!
 

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