Buying Real Estate For Your Business in Fort Myers

Buying Real Estate

As a successful business owner, you might be considering the purchase of real estate in your business’s name. Learn more out the process in our latest post!

Buying real estate isn’t just for individuals, businesses can purchase real estate as well. Buying real estate under your corporate name is completely doable. In fact, it is done by buyers all the time. Keep reading to learn more about buying real estate for your business in Fort Myers.

Residential Properties As An LLC?

Investors frequently utilize a Limited Liability Company (LLC) to purchase property, primarily to safeguard their identity from public records and capitalize on the protections afforded by an LLC. Acquiring property through an LLC helps limit the owner’s liability, shielding their income and personal assets. Investors employ this strategy to enhance the value of the LLC by integrating a real estate portfolio. Through the LLC, revenue can be generated by leasing out residential or commercial spaces. Property taxes and other homeownership expenses are typically managed through the LLC as well. It’s advisable to consult with your accountant before finalizing the purchase, as property taxes may be impacted.

Commercial Space – Should You Lease Or Buy?

Should You Put It In Your Name Or The Businesses?

Many business owners will opt to put the property in the business’s name as to protect their personal assets in case of a lawsuit.

Does buying a commercial space for your business really make sense for you?

There are many tax benefits that come along with purchasing property as your LLC. You will also have the feeling that you are in control. You won’t have to worry about the properly maintained because you are the one in charge of it! You will not have to ask to make changes to the space no will you feel like you are on someone else’s turf. If you are ready to purchase a space for your business, ask yourself some of these questions first.

Do you want to deal with property maintenance?

Similar to owning a residential property, owning a commercial property entails ongoing maintenance responsibilities. Both the interior and exterior of the building require attention. Opting to lease a space can alleviate some of these duties, as much of the maintenance may be managed by the tenant. However, it’s essential to ensure that you have the necessary time, energy, and budget to effectively maintain the building, regardless of whether it’s owner-occupied or leased out.

Do you plan on staying for the long term?

Buying a commercial property makes sense if you plan on being there awhile. Sure, anything can happen in the business world, but if your intent is to stay long-term, your costs will be less overall. Renting a property, without anything to show for it can cost you in several ways.

Turn Your Real Estate Into Extra Income

A great way to make some passive income, and have the property basically pay for itself, would be to buy a property that is larger than what you will need and rent out the additional space to other business owners in the area. This will provide you with many benefits, including additional income.

Are you ready to buy a Fort Myers property? We can help! Send us a message or give us a call today! (239)360-3176

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