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Updated about 3 years ago on .
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Unique business venture
Hey guys I need some advice on my business. I have not started one yet but this is my ultimate "out of the rat race" goal.
I am an aspiring gym owner. I would love to own a large gym with a blend of commercial use like crunch or LA fitness along with strongman/ powerlifting.
I also would like to have enough rental properties MF and some SF to add income and keep life sustainable.
I've got several strong ideas to add value to the business. One of which is trainers utilizing my space and pay me rent for time slots to teach classes. Along with half a dozen other plans.
However I am unsure of where to start. Do I save money and begin investing in real estate first? Should I jump head first into starting the GYM? I know minding my business is key to success but I'm not sure where to start.
one plan of mine was to flip a few houses to raise capital and roll over the proceeds into MF properties.
I am also curious to know if any CPAs on here could answer this. Could my GYM LLC carry real-estate in its name a reap the benefits for tax purposes?
let me know what yunz think. Thank you!