Is investing in commercial real estate something that you’ve thought about? Better yet, do you dream of owing a business? Being your own boss certainly has some advantages! Perhaps you’re already in business and looking for a good location for your retail store, pharmacy or health clinic. In Calgary there are a wealth of great commercial properties on the market at the moment. Now that I’ve piqued your curiosity, let’s look at the idea further.
Types of opportunities
Basically, there are several ways to go here. You could purchase a multi-plex apartment building and rent the units to individual tenants, or maybe you’d like to buy a warehouse, office or retail space and lease it to a small business owner. Another option is buying a property that already comes with a turnkey business and all the necessary equipment, fixtures and products and operating it yourself. This includes franchises that have standard company materials, supplies and advertising. Finally, if you want to strike out as an entrepreneur with your own brand, you can purchase a commercial space from which to manufacture and/or sell your original product or services.
Benefits of commercial real estate
There are many benefits of owing commercial real estate. If you’re renting out the space it can provide you with a solid revenue stream. As an apartment landlord, you can feel good that you’re providing some much-needed rental housing in the city. In leasing to business owners, there’s also the vicarious gratification that comes with contributing to the success and growth of the small business community. Having said that, when you run your own business the enjoyment of serving the local neighbourhood’s needs with unique services becomes more personal. In any scenario, being involved in commercial real estate really connects you with your community and allows you to play a role in helping your city thrive economically.
What to consider
Here’s what to consider. Are you cut out to be a landlord, able and willing to manage the building, respond to the needs of renters and ready to handle changes in tenancy? Don’t forget that you need to have well-written leases and contractual agreements with your tenants. To operate your own small business, you must be prepared to apply for the appropriate business licence and city permits, meet inspection requirements and follow all applicable city by-laws and government regulations.
So, what are you waiting for? I’m a firm believer in “nothing ventured, nothing gained”. Let me show you what’s available in commercial real estate. I’m excited to help you explore the possibilities and answer all the questions you have. It would be my pleasure to help you reach your commercial property ownership goals!
So, what are you waiting for? I’m a firm believer in “nothing ventured, nothing gained”. Let me show you what’s available in commercial real estate. I’m excited to help you explore the possibilities and answer all the questions you have. It would be my pleasure to help you reach your commercial property ownership goals!