| If you are a business owner, at one point in your | | | | afford to tie that amount of money into the |
| business journey, you have probably had the | | | | property? If you didn't realize, commercial real |
| thought of whether or not you should own the | | | | estate is not a liquid asset, you can't just pull |
| building your company occupies or lease it from | | | | money out of it at any time. If purchasing office |
| someone else. If you have common sense, you | | | | space makes you cash poor, you might want to |
| would think that buying the facility and build equity | | | | put your plan on hold. |
| in the property is the way to go. However, when | | | | Another huge factor that need to be taken into |
| dealing with something this big, the decision is | | | | consideration besides the money aspect of the |
| rarely easy to make. There are many factors | | | | purchase are your growth plans. If your business |
| that could come into play to make purchasing | | | | is in the initial growth phase and are expecting to |
| commercial real estate a bad idea. I will go into | | | | expand in the near future, the business owner |
| some of these factors in greater detail. | | | | should know what he plans to do with the building |
| Probably the biggest factor that comes into play | | | | it they are forced to move out due to company |
| is the financial limitations that purchasing office | | | | size. Will they rent the building, sell it to another |
| space has on a business. Do you really have | | | | company, or even keep part of their operations in |
| enough money, or are you making enough money | | | | it and expand to another building. These are all |
| each month to make it happen? What about the | | | | simple questions that require very complicated |
| tax benefits? What about equity? Is the local | | | | answers. |
| commercial real estate market growing or | | | | Commercial loans have never been easier to |
| shrinking? How about growth? Do you have | | | | obtain then at this time. If it in your company's |
| enough room to grow your company in the | | | | best interest to buy some commercial real |
| building your are considering purchasing? All of | | | | estate, now is a great time to do so. Just make |
| these are good questions that need to be | | | | sure that you can do it financially, it is not worth |
| answered before you make any decisions about | | | | losing your business or struggling horribly, just |
| your big purchase. | | | | because you want your own office space. Take |
| For most business owners, the number one | | | | your time, do your research, and make sure that |
| questions is, do I have the required 10-15% to put | | | | this is for you. |
| down on the property and can the business | | | | |