Do you own your own business? Are you planning on owning your own business? Then you probably need to continue reading!
Buying real estate goes beyond buying a place to call home. And investing in real estate goes beyond buying a home and reselling it.
Investing in real estate with the help of the right agent means long-term financial security and a solid future safety net.
I know that owning your own business is costly and at times draining, and that a second income might seem imperative to be able to cover any extra costs and save some money for the future.
This is easily achieved when owning your own business. All you have to do is invest in a property that can be both the location to your business and the location to other businesses that you rent out to. You are basically generating an extra income other than the primary income of your company.
Becoming a landlord is an easy task especially after making the right property choice. Your agent should thoroughly understand the type of business you own and the type of landlord you will become and make property choices accordingly.
In addition, considering hiring a property management company will not only save you a lot of hassle but will also save you a lot of time and money seeing that a specialized company will be involved in collecting rent and maintaining the building for everyone’s benefit. Property managers can help landlords head off so many of the challenges associated with rental properties.
You should also discuss the return on your investment with your broker. He should be able to calculate your likely gross rental return, which will basically act as an indication as to how much time it will take for your to break-even in your property investment. A gross rental return can be around 7%, which is a relatively high percentage.
So if you are currently looking for a new home to your business, or a home for your new business, I want you to slightly widen your scope of thinking and put on your investment thinking hat. Owning your own property will certainly give you the opportunity to invest in your future and your family’s future and be able to generate an extra income. Rental income is considered one of the best security blankets anyone can have in almost every part of the world.