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