With real estate values approaching all-time lows and interest rates near their all-time lows, now is the perfect time to look at acquiring real estate. Here are some groups of people who can benefit:
- Business owners who want to stop paying rent and own their own building/office/store/shop/etc.
- First-Time Homebuyers
- People looking to purchase residential rental properties (especially multi-family units)
- People looking to purchase commerical rental properties
If you fit into any of the above categories and would like to explore your options, respond to this e-mail and we can discuss how you can make the most out of this historic real estate market!
Why business owners should own their own building:
- In most cases right now, your monthly mortgage payment may be lower lower, similar, or only slightly higher than your current monthly rental payment
- When you rent, you are subject to rent increases. When you own the building and you have a fixed-rate mortgage, you will lock in your monthly payment. The only item that will increase over time will be your property taxes. For example, if you are paying $1,000/month rent right now, you will most likely end up paying $2,650/month for the same space 20 years from now. However, if you lock in a $1,000/month mortgage payment, you will be paying $1,000/month 20 years from now.
- Once your mortgage is paid off, you won't have to worry about monthly mortgage payments or rental payments. All you have to do is pay your property taxes.
- When all is said-and-done and you are ready to retire or sell your business, instead of simply walking away from your lease, you can either sell your building (most likely for a lot more than you paid for it) or hold it and generate a monthly income stream by renting it out.
Effective Tax Planning for the MicroBusiness is in stores now.
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