Wednesday, January 16, 2013

Business Owners

...they're a strange bunch.
Some of them figure they can just open a restaurant and merely staff it with managers and employees, underpay them and take in the bulk of the profit...or purchase rental property and simply sit around and collect the rent money while "going fishing" or taking off on vacations or focusing on that "other job" of theirs (little more than one-man/one-woman "collection agencies", so to speak).

But property ownership doesn't work that way.  Whatever one owns they have to nurture and "baby-sit" the same way as one does raising a child or owning a pet.

If one purchases property that needs intense repairs and restorations or remodeling they're also "purchasing" all the responsibilities that come with any kind of property ownership.  Including all upkeeping with the possibility of being penalized by local/regional government for any code violations incurred for failing to correct critical problems---even if said problems predate and were already omnipresent prior to when they took over ownership.

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