I went into contractor with some friends from university & my associate and I now have a pretty successful business.
We are in the contractor of purchasing older buildings, renovating them, & then putting them back on the market.
We have been doing this for about five years now & it provides a entirely good income for each of us. I am the one who is responsible for finding, purchasing, & then advertising the properties for resale. Thankfully, my friends are the handy ones who do the bulk of the work. There are times when my associate and I need to contract out for a particular job however that doesn’t happen often! At the start of a project, my associate and I set a budget to ensure that my associate and I will make currency. Afterall, as much as my associate and I like each other, no one wants to lose currency. We recently purchased an older storefront downtown & wanted to renovate it into a space that could be used for a diner or diner. Everything was going good until the EPA inspector showed up. Do to the age of the building & the HVAC system that was installed, he said that the HVAC system no longer met the modern standards for air quality. He informed us that the emissions that came from the system were so high that my associate and I would need to substitute the entire thing. This expense was absolutely not in the budget. Normally, when you purchase real estate, you have an inspector come in & access the structure, appliances, & overall condition. We buy most of the places without this so my associate and I can get a better price. This purchase is going to cost way more than my associate and I had planned because installing a commercial HVAC system is not cheap.