Purchasing property is a big commitment for a small business, and often, the financing is done with a commercial real estate loan through a bank or commercial lender. The team at Appro & Cerron has some useful information to help business owners through this process of getting quick financing on your commercial property. Obtaining a commercial loan is similar to obtaining a home mortgage. Depending on the lending source, there are many requirements and early steps your business must prepare before acquiring the financing from a lending source. There are also many options for obtaining a loan, for which we will explain the pros and cons for each to help determine what will be the best fit for your business's finances.
Our team at Appro would like to share some information regarding information needed to make a decision on purchasing an affordable warehouse with office. Many small business owners always run into the question of choosing to buy or lease property, and it all involves around the cost. There are certain forms of a lease, but it all boils down to buying property to own for a certain period while making payments to the owner until the lease is expired. The last thing you want to happen is to buy property and then to realize a year later that it would have been a better option to rent. To help, we gathered some good information that will analyze the right fit for your business. For most cases, you only want to lease if you plan on being in a location for a short period, and would want to buy if you plan on remaining on that location or a longer period of time. The following will help guide you through this process of finding available industrial sites affordable for your business.
The Appro team would like to remind our clients and commercial property owners about the upcoming construction on County Road 70. The city of Lakeville plans for expansion on County Road 70 from Kensington Boulevard/ Kendrick Avenue to Cedar Avenue. The purpose of this project is to improve safety and operations due to increasing traffic volumes. The following is a list of the project goals, potential benefits and concerns, and time schedule. In effort to assist our clients on what they need to know about the upcoming expansion, we hope this information is useful for future business decisions.
Our company would like to share some information regarding a 1031 exchange, also known as like-kind exchanges. This is very relevant to an industrial business owner and may be seen as very beneficial to look into further. 1031 exchanges have been a vital aspect of the tax code since 1921. It allows investors or business property owners to sell a property, buy a new property, and defer paying capital gains tax on the sale, as long as both properties are of like kind. In the future, the taxes will have to be paid because it is a deferral, not an exclusion. There are many rules for how the exchange must be carried out, so we provided some options that may be useful for business owners of industrial buildings.