Buying a commercial building is one of the most important decisions you’ll ever make as an entrepreneur, and, if done right, potentially one of the most profitable too.
Unlike leasing a commercial space, owning it allows you to not only build equity, but also adapt it to support your business needs. You’ll also free yourself from worry about rent increases and lease terminations.
The following infographic offers six important steps to help you plan your commercial real estate purchase effectively.
Potential pitfalls when buying a commercial building can be as serious as they can be numerous.
According to Thierry Limoges, Vice President, Financing and Consulting at BDC, there’s only one way to avoid them: Plan, plan and plan again. "It's probably one of the most important investments you'll ever handle as a business person. You have to make sure you give yourself the best chance of success," says Limoges, who has helped hundreds of business owners through what can be a complex and demanding process.