Well I'm currently in the process of getting all my ducks in a row. I'm about to begin on a journey down the path of home rehabbing. I'm going to focus on South Florida namely South Palm Beach County. South Florida itself is a wonderful area just now coming off of an extremely hot market. Now with property values coming down and taxes going sky high from natural disasters homes are quickly popping up on the market. Now taking all this into consideration there are still pockets of an unyielding market. One of those in my opinion is that of Boca Raton... namely West Boca Raton (Associated Palm Beach County). Anyhow without giving it all away I see opportunity and I know the area extremely well having worked there for some time. I have connections on cabinetry, crown molding, hard wood floors, and other wood related products. Not to mention my connections on granite & marble, HVAC, landscaping, and some wonderful general laborers. The aces up my sleeves are my mortgage broker and CPA. What worries me is that I do not have a contractor, pool company, screen/enclosure company, and or roofer. I believe these components are vital to home rehabbing in South Florida. I plan on looking around for a few good companies to further my network. While doing all of this I'm structuring my new company and securing finance. Once I fell everything is in line I'll be continuing my hunt for our first project.

I have a few questions regarding the structure of my company related to mostly to taxes. When I refer to taxes I mean that I need a better understanding of what I’ll be paying. I hope you all will be able to give me some advice, direction, and or fill in some of the blanks that I’ve acquired. I understand it might be to much to ask for any sort of information in detail so if need be please direct me to the title of an expert in the field. I've been a long time lurker and reader but have recently made the plunge into the field. Thanks in advance.

Rule #1, make the money first, then worry about paying taxes.

Rule #2, never complain about paying taxes, the more you have to pay, the more you have made.

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well if given the opportunity I'd like to follow those rules

I'm going up to the courthouse today to sit in on some auctions and get the hot sheets.

Hey guys I was surfing the web and wondered what your thoughts were on these articles in the Plam Beahc Post.

www.palmbeachpost.com/localnews/content/local_news/epaper/2006/08/09/s1a_foreclosure_0809.html

www.palmbeachpost.com/business/content/business/epaper/2006/07/19/a1d_affordability_0719.html

www.palmbeachpost.com/localnews/content/local_news/epaper/2006/05/21/c1a_INVESTORS__0521.html


Some of the topics discussed are what I thought would benefit my new business.. However the spin rubs me the wrong way and seems to suggest otherwise. What are you thoughts on the real estate slimate in Palm Beach County? Boca Raton is a different animal but it is South Palm Beach County.

Here are some more great reads:

www.palmbeachpost.com/pbcsouth/content/local_news/epaper/2006/05/28/m1a_LENDING_0528.html

www.palmbeachpost.com/goodlife/content/home_garden/epaper/2006/05/28/a1k_renters_0528.html

This one is a great read, not really related to my cause
www.palmbeachpost.com/business/content/business/epaper/2006/04/09/s1a_SOH_0409.html

enjoy guys! Please let me know what you all think.

What are my thoughts? I think they're right. The markets are changing for investors. I have a spec house that has sat for a few months... On a block of brand new houses that are also sitting.

Now, I don't necessarily agree with the rental part... We are heading into a sellers market stage one, and that means that rents will be going up soon.

I think it's pretty self explanitory... These people aren't buying houses, so where are they going? They gotta rent! So if you have more people trying to rent the same houses, it would go to raise rents.

However, this doesn't change anything. It's always been a business, and you have to treat it as such. You need to buy for sustainability and for the long term!

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Richmond Realtor

Richmond Real Estate Investor Association REIA