Buying A Commercial Property For Your Store
$0.00
Thinking of buying a commercial property for your store?
There are many advantages to buying a property for your business.
1. Your business will own an asset that can appreciate in value.
2. You are making an investment that can grow in value, independently from the value of your business.
3. You can rent out portions of the property. By renting out spaces in your building, you can develop multiple sources of income.
4. You don't have to pay rent.
5. You don't have to worry about the landlord increasing your rent.
6. You will not be asked to vacate the space.
To obtain a mortgage for a property, you will need a downpayment. The downpayment can range from 25 to 40% of the purchase price.
There are hundreds of commercial lenders, such as Velocity Mortgage Capital, Apex Mortgage, Santander Bank, Apple Bank, Bank Of America, and SunTrust Bank.
You can use a directory to find a mortgage lender. The following are some of the available directories, CommercialLendingX.com, Scotsman Guide, C-Loans.com, aaplonline.com, and blackburneandsons.com
You can also contact the CREF, the Commercial Real Estate Finance Mortgage Bankers Association. The association can refer you to lenders that can meet your borrowing needs.
Make sure that you shop for the best quotes,and take into account any fees, in addition to the interest rate of the loan.