by speedadmin | Mar 28, 2023 | Blog
Owning commercial properties can be quite useful in building wealth. Many wealthy people attest to that. Take it from the famous author Robert Kiyosaki, who said that real estate investing, even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth.
Benefits of Owning Commercial Real Estate
The principal benefits of investing in commercial real estate are the power it brings to your investment portfolio. In addition to high recurring income, these properties can be eventually sold for a tidy profit.
In addition, there are many tax benefits available for those who own commercial real estate. Here are a few of the most common ones:
- Depreciation. The depreciation value related to commercial real estate holdings can be deducted annually.
- Loan Interest Deductions. Interest on mortgages or other property loans may be deductible at tax time.
- Capital Gains Benefits. Upon the sale of real estate, any capital gains are taxed at a lower rate than ordinary income.
- Passive Income Rules. In some cases, income generated from commercial properties may fall into lower-taxed passive income rules.
Financing Your Real Estate Purchases
Real estate, and in particular commercial real estate, can be expensive to acquire. Most people take out some form of financing to get the property they desire.
Here are a few of the options available to you:
- CMBS loans.
- HUD and FHA lending.
- SBA 7a and 504 loans.
- Equity and mezzanine financing.
- International financing.
- Bridge and hard money loans.
Speed Funding Can Help
Speed Funding is an expert in commercial real estate financing. They offer the full spectrum of commercial real estate financing options mentioned above, whether you are a first-time buyer, rounding out your property portfolio, or somewhere in between. Give them a call today to learn more about your opportunities.
by speedadmin | Mar 21, 2023 | Blog
Business ownership can be challenging, so sometimes it makes sense to have business partners. Let’s explore some questions that all business owners should ask potential partners.
What Are Business Partnerships
A business partnership is a formal and legal arrangement between two or more people who will be involved in a business and share its profits. There are several types of business partnerships: general partnerships, limited partnerships, and limited liability partnerships, each with its own conditions.
Do You Need Business Partners
Before starting a serious search for business partners, it is important to consider whether you really need (or want) a business partner. There are pros and cons to having business partners.
The Pros:
- Business partners can add valuable knowledge and expertise as well as provide complementary skills.
- They can add new perspectives and insights and help you overcome blind spots.
- They can provide an infusion of critical cash, attract investors, or help raise capital for your business.
- They can help secure more business opportunities, perhaps with important personal connections.
- They can help you achieve better work/life balance by sharing a leadership workload.
The cons:
- Business partners share liabilities, so you share any backlash from the mistakes of a partner.
- You may lose some autonomy.
- There may be some emotional conflicts.
- There may be some future selling complications.
What Questions Should You Ask Potential Business Partners
Ask these questions of potential business partners to assure yourself of a good fit:
- What is his/her expectation of the time and skills required?
- What is their level of experience? Understand their skills and talents.
- Can the partner fully embrace your vision for the business? Will the partner’s commitment to the business be as strong as yours?
- What is the partner’s financial condition? You don’t want any major debts or red flags to cloud your relationship.
- What is the partner’s reputation?
- Is there anything in their personal life that would be problematic for you or the business?
Seek Expert Financing Assistance
Contact Speed Funding for a wide range of expert financing solutions to meet your business needs and achieve your goals.
by speedadmin | Mar 17, 2023 | Blog
As a passionate, conscientious business owner, you know the importance of a strong online presence. Your ideal customer must be able to find you easily and interact with you. As you consider your web design, you’re probably looking at several factors; the demographics of your audience, your unique branding, and the role of your website in the customer experience. Leading-edge trends are appropriate for some business websites. Read on for several.
1. Innovative Navigation
Yes, having navigation fully visible at the top of your site is the standard practice. But, depending on your audience, hiding the navigation (necessitating a scroll down) or putting it in an unexpected location (like a popup) leads to different customer behaviors than usual. The first example leads the visitor to consume information about your business first, and the second functions as a multi-choice call to action (CTA).
2. Scrollytelling
Speaking of scrolling, many innovative websites employ “scroll telling,” which opens up rich vistas of content that animate in compelling ways as the user scrolls down. For businesses that have an artistic element, this is a strategy that will fascinate and draw customers in.
3. Minimalism
Thinking about using a simple landing page with contact information and one CTA? You’re in good company. Brands that leverage mystique or do most of their business away from their websites use this approach to their advantage. If you decide to go in this direction, your brand needs to be instantly recognizable and irresistible.
4. Grid Layouts
There’s something about grid layouts that bring nostalgia for old-fashioned stores and other brick-and-mortar businesses. The regularity and symmetry of grids also are relaxing and reassuring. Most online storefronts use this layout, but it’s also effective to employ it on home pages and selected interior pages. Experiment to see what works best for your business.
5. Text-Based Designs
Want great SEO (search engine optimization)? Use text as the centerpiece of your web design. The layout, fonts, and content will be the focus, rather than the imagery. Search engines tend to prefer websites with high-quality text content. You don’t have to skimp on design. Select your fonts carefully, and format the design so that users can find what they need easily. Break up your paragraphs to prevent the dreaded “wall of text.”
Your web design possibilities open up when you consider out-of-the-box ideas. Keep these suggestions in mind as you plan your online strategy.
by speedadmin | Mar 14, 2023 | Blog
Businesses always find it highly desirable to achieve and maintain a strong credit score. A high score shows lenders and other firms that your company is financially stable. A strong credit profile will enable you to obtain financing at favorable rates should your business require it.
Business Credit Scores in a Nutshell
A credit score for businesses is a measure that provides a benchmark of the creditworthiness and overall financial strength of a business. In most cases, data from a business’s credit report is used to calculate a company’s credit score. This data can include information about the company, such as its number of employees, historical data, payment history, account information, owed amounts, and more. A business credit score can be looked up using credit reporting agencies such as Dun & Bradstreet, Equifax, and Experian.
Building Up your Business Credit Score
There are a number of ways that a business can improve its credit score. If you are looking to strengthen your business’s credit score, consider the following five points and determine if you can make any changes in your operations:
- Register your business and apply for an EIN (employer identification number) if you have not yet done so.
- Establish and utilize a business credit card regularly and responsibly.
- Monitor your business’s credit score.
- Pay back credit installments on time or early.
- Refrain from continuously maxing out your business’s credit limit.
Speed Funding Can Help
Some lenders tolerate lower credit scores when businesses need financing. Traditional banks in particular often demand stellar scores. If your business needs credit and has been denied financing elsewhere, seek out alternative funding sources.
Speed Funding is a lending agency that works with all types of businesses. They have a wide variety of financing options. Reach out to them and see what your business financing options are.
by speedadmin | Mar 7, 2023 | Blog
Many people find themselves desiring to buy a property but are short on the needed cash. A bridge loan may be the best option for them.
Bridge Loans Explained
Bridge loans are a common type of financing used by real estate investors. These are short-term loans designed specifically for the real estate market, typically with terms of up to three years. They are designed to be extremely adaptable and provide quick funding and are ideal for a crowded real estate market in which properties can move quickly.
The inherent flexibility of bridge loans is one of their primary advantages. The most common use for them is to speed up the closing of a property purchase. They can also be used to pay for a host of other expenses related to property purchases.
In a fast-moving real estate market, quick-funding bridge loans are superior to conventional loans. Traditional bank loan applications typically can be tedious and can take a long time. There is usually a prolonged waiting period for approval after the application is completed. In some cases, the applicant may be denied the needed loan.
Using Bridge Loans: Typical Scenarios
Bridge loans are generally used when a prospective buyer has not yet sold an already-owned property. Here are a few examples:
- An individual just lands a great job in a new city. He sees a house in the new city that he wants to buy but can’t sell his existing home in time to provide the cash needed.
- A business finds a commercial property that just came to market that it wants but has very little cash on hand to seal the deal. It takes out bridge loans and purchases the property within a few days.
Contact Speed Funding for More Information
Speed Funding is a lending company that knows bridge loans inside out. They can answer any additional questions you may have or get the short application process started immediately. If other funding mechanisms seem a better fit for you, they will suggest these options as well.
