I received my copy of Residential Architect magazine today (in my opinion, the best of all the trade journals). This month’s Practice column, by Cheryl Weber (another one of my favorites), is about savvy architects investing long-term by owning their buildings.
The advantages of owning real estate are plentiful. Here are five reasons to start your search today:
- Paying yourself rent feels much better than paying a grumpy landlord.
- E-Q-U-I-T-Y (make money without lifting a finger).
- Buy or build a mixed-use building and eliminate your commute… live and work in the same building.
- Tenants help to pay your mortgage.
- Buy. Renovate. Occupy. Sell. Profit… Repeat!
Ready? Check out the U.S. Small Business Administration’s CDC/504 program for a small biz loan.
Do you own the building in which you work? Share the pros and cons of being a real estate investor.
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August 6, 2007 at 2:20 pm
anonymous
Do you know anything about what agreement would be used between an architect and an unlicensed designer who wish to jointly enter into a design contract with owner? What it suggests above about C801 is that all entities in a joint venture need to be licensed in some form or another. What if one entity is not licensed? Would you use Agreement between Architect and Consulting Architect? Except it is not legal to say “Consulting Architect” – can you change the AIA verbiage to say “Architect and Designer”? Thanks.
August 8, 2007 at 3:44 pm
Mark
I recommend visiting the AIA Contract Documents page at http://www.aia.org/docs_default.
I don’t know of any specific “Joint Venture” Agreements for Architects and Designers working together as a team. My understanding is that one entity usually takes the lead, legally, with the owner and the Architect and Designer have their own agreement between themselves.
Documents C141 and C142 are Architect/Consultant Agreements.