If you are a tenant, now is a great time to seriously consider purchasing your own commercial building and pay rent to yourself rather than another landlord. Those of you who have been paying rent for a commercial space may be surprised to see the financial benefits of owning versus leasing. In today's market, many factors favor owning. First of all, commercial real estate is turning into buyer's market with many sellers looking to unload their property at discount prices. Secondly, interest rates are very attractive and are predicted to inch up in the near future. Lastly, the SBA 504 loan allows for a relatively low down payment by the buyer, sometimes as low as 10% of the loan. Additional benefits for the buyer includes depreciation of the improvements and interest write offs. All things considered, the annual cost per square foot can be substantially less for the owner versus the tenant. I have several SBA qualified lenders looking to do deals. Now is the time to act.
I was talking to one of my friends who owns a building in longview and did exactly what you said. He now makes more off the lease than he does the actually business that he owns in the complex.
Joe --
Hopefully, we're one of your "several SBA qualified lenders looking to do deals"... because we're ready and able and can lend anywhere in the U.S. Nice blurb in support of buying commercial property NOW.
Chris
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Christopher G. Hurn,
CEO/Cofounder
Mercantile Capital Corporation®
940 Centre Circle, Suites 3002--3006
Altamonte Springs, FL 32714
407-786-5040 (O) or 1-866-622-4-504
407-682-1632 (F)
Visit us: www.TheSmartChoiceLoan.com or www.504Experts.com
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Fulfilling Dreams with Smarter Financing®
"The Leading Owner-User, Commercial Property Lender in the Nation."
Three-time Member of the Inc. Magazine "Inc. 500" and "Inc. 5,000" list of fastest-growing private companies in America.
Named "One of the Top Twenty Most Influential People" in small business lending.
Orlando Business Journal's Reader's Choice Award for "Most Respected Executive in Central Florida" and "Best Small Company in Central Florida."
Winner of the NADCO "Banker of the Year" award.
Winner of Coleman Publishing's "Marketing Guru of the Year" award.
Winner of the SBA Financial Services Champion for Florida and the twelve-state Southeast Region (District IV).
Named the Orlando Business Journal’s “Top Male Forty under Forty."
Named the “Top Ten Most Influential Men to Watch” by the Orlando Business Journal.
Named “Best Place to Work” in Orlando by the Orlando Business Journal in 2009, 2007, 2006 and 2005.
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