When it comes to starting a business, it’s extremely common for business operators that have warehouses, offices, even storefronts, to start their businesses in a leased property. It makes sense because it’s more affordable to rent versus own (at least in the beginning), and typically it’s faster to find a location to rent versus buy. Additionally, some businesses move about, so leasing space early on is almost always the right way to go.
That said, there comes a point when a business is better off purchasing property as opposed to renting one. It’s not unlike the benefits that come from buying a house—owning property and gaining equity in real estate can help leverage more opportunities in the future.
A fantastic option for businesses wanting to purchase commercial real estate, whether new or already occupants of, is the SBA 504 Loan Program. The 504 is a g