In Times of Uncertainty ...
In times of uncertainty it's good to own your business home.
• Buying your space costs less than renting because there is no middle man.
• Buying lowers your cost of borrowing because you have collateral.
• There are many tax advantages to owning your space vs. renting.
• When you buy your space, you will own a tangible asset instead of a stack of rent receipts.
• Owning allows you to weather a downturn by borrowing against the equity you've built up.
• When you own your space you can control your exit strategy when it is time to sell.
• Real estate can build into a retirement asset.
Twenty-five years ago I bought my first building for my business, and I still have it. Now, 25 years later I've built a couple million square feet of buildings and delivered space to hundreds of owners. Over that time I've witnessed three downturns and have only had two owners run into problems, but my tenants tend to blow out like popcorn in a popcorn machine. There is a mental shift that occurs with ownership that helps you secure your financial future.
Call me and let me help you own your business home. Email me at Tom@BurgessCommercial.com or call (630) 585-0021.
• Tom Burgess is president of Burgess Commercial Real Estate in Naperville.