I went into corporation with some friends from university plus we now have a pretty successful business.
My buddy and I are in the corporation of purchasing older buildings, renovating them, plus then putting them back on the market.
My buddy and I have been doing this for about five years now plus it provides a easily unbelievable income for each of us. I am the one who is responsible for finding, purchasing, plus then marketing the properties for resale. Thankfully, my friends are the handy ones who do the bulk of the work. There are times when we need to contract out for a certain task however that doesn’t happen often, at the start of a project, we set a budget to ensure that we will make money. Afterall, as much as we like each other, no one wants to lose money. My buddy and I recently obtained an older storefront downtown plus wanted to renovate it into a space that could be used for a diner or steakhouse. Everything was going unbelievable until the EPA inspector showed up. Do to the age of the building plus the Heating plus A/C system that was installed, she said that the Heating plus A/C system no longer met the current standards for air quality. She informed us that the emissions that came from the system were so high that we would need to update the entire thing. This expense was legitimately not in the budget. Normally, when you purchase real estate, you have an inspector come in plus access the structure, appliances, plus overall condition. My buddy and I buy most of the venues without this so we can get a better price. This purchase is going to cost way more than we had planned because installing a commercial Heating plus A/C system is not cheap.