Re: Home is where I belong

Ben, you are in a position to avoid what many others have evolved into. Working out of a house in a residential area. These days more and more communities realize the need for Live/Work housing and these areas have much lower taxes than commercial property. If you have a down payment it's time to start looking for a house in a live/work zoned district or you may find something in a commercial area. Chances are your apartment rent will almost cover your mortgage payments and you can sit and watch your real estate investment climb. A house on land is nice rather than a condo because you can build an addition or garage at some point and you can make more noise! It also has better investment potential and less politics with strata councils etc. Conversely, there is less noise from your neighbors. A house is more likely to have parking space too, something your clients will love. Try to find something near your clients with good visibility and access.

I recall a seminar I attended where the near retirement aged presenter unveiled his secrets to success garnered from his years in business. At the end of the presentation one person asked "if you had it all to do over again, is there anything you would do differently?" He thought a moment and replied "yes, I liked it better when it was just myself, just one person."

As soon as you hire one person you get a huge pile of paperwork and training to do.
When you achieve a level as your last situation you can hire a bookkeeper or accountant to deal with this workload.
When you get 10 times bigger than that you buy an office condo in Bermuda and just show up at work once in a while.

The worst downside of a live/work setting is people come by at 9:30 PM Monday night or on Sunday wanting an update, estimate or 2nd copy etc. etc. This is where a separate business phone and a garage (to hide your car in) come in handy.