Start Up Business

by Joe Boustany
(Toronto, Ontario, Canada)

Hello,
I am in the process of starting a fixer upper business in Ontario. I presently own 3 homes and I was wondering if you have any good advice for me of how to go about starting a business of this nature; for example what kind of business I should register and how it should be structured, etc.

Also, is starting a business of this kind is profitable in this market? Is there anything complementary to this business you would recommend?

Finally, do you have a good lawyer and an accountant name for what I briefly described?

Thank you in advance.

Comments for Start Up Business

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Jul 26, 2012
RE: Start Up Business
by: Tom Karadza

Good question, that requires a long answer!

Without knowing more details our suggestion would be to speak to a good real estate lawyer. If it was us, we would likely incorporate to do what you're doing.

We know people who have made money in this type of business and others who have lost money. To answer your question about "is this profitable in this market", we've seen people make and lose money in any market. It's more a matter of you than the market.

There's no complimentary business that comes to mind without talking to you further.

Google Dennis Lugowy in Hamilton, Ontario, he's a great real estate accountant.

Hope this helps a tiny bit and good luck!

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