Mortgage Officer/Real estate Attorney/CPA should be stops you make before developing your business plan.Good LuckGary

These economic slowdowns take a while to develop.

Say you are developing a building in NYC. 5 floors lets say with 10 apartments total.

We must keep these two lot renters as we barely are covering expenses on this property, but they are junking up their yards so much that it causes us to lose prospective tenants in our mobile homes.

I'd like to learn management, and then investing and development.

I own a few companies that deal in all areas of real estate including; custom home building, production homes, commercial projects, land development and real estate brokerage.

Originally posted by "PNW":Somebody wake me up if prices drop 50%, because I'll have some serious buying to do at that point.Well, I have more than a couple neighbors in my condo development who bought in when things were high, and they paid just about twice what I paid for mine only 2-3 years earlier (they got in at ~160k give or take a few, I got in at 82.5k).

This is a question for Joe: If you are in the business of property development, are sales of homes considered capital gains, or ordinary income?

If the owner has moved on, then if you can track them down, they may be a better prospect.

We also have two properties we are developing in Costa Rica a Mountain resort and the other is a Golf Resort/community.