Do you want to expand your business by purchasing a larger or second industrial property? Although many businesses use their own savings and investments in order to purchase industrial property, this is not always possible for financial reasons. In these cases, you may be looking at the best ways that you can raise enough money to purchase an industrial property. If you need alternative ideas to taking out a mortgage, here are some of the top solutions to enable you to get the industrial premises your business needs as quickly as possible.
Take Out a Bridging Loan
Commercial bridging loans allow you to lend against your commercial properties in order to unlock the funding that you need to then purchase an industrial property. Bridging loans have many advantages when buying an industrial building, and these include being able to get the right amount of funding as soon as you need it, ensuring that you are able to secure deals without them falling through from a lack of capital. Alternative Bridging Corporation allows you to get help with funding the purchase of industrial premises with amounts on offer between $100,000 and $3,000,000 for second charge loans, ensuring that you can quickly secure the money you need to expand your business premises.
Use Private Investors
Rather than solely focus on your own savings and business capital in order to purchase an investment property, many businesses choose to raise the money that they need through the aid of private investors. Ensuring that you are able to get private investors involved in your project will enable you to receive much more of the funding than you could raise by yourself, and you can do this by brokering an attractive deal with investors. This includes the deal being of the right price, that the deal gives investors a good return, and that their investment will continue to prove strategic for years to come.
Utilize Creative Financing
Creative financing works by allowing you to take out a second mortgage on the one property, which can then bridge any gaps that you have within your financing. You can then pay off this second mortgage later. Another method of financing that business owners often use with industrial properties is to buy some of the property in question, but not the whole. You can then borrow money with the part of the property that you own, which in turn can allow you to invest in the property as a whole in the future.
You cannot raise all the money that you need alone, and you can purchase industrial property easily by partnering with other people who may have the funding that you need. Whether you arrange a deal with another business or go into business with another party interested in property investment or your business, you will be able to split the funds needed to buy the industrial property of your dreams, lessening the financial burden on your business bank account.
Apply for Loan Assistance
There are many loan assistance programs at banks and with private lenders that will allow you to purchase a commercial or industrial property with as little down payment as possible, ensuring that you have fewer funds to raise than you would expect. You could also decide to look for a grant or award from the government or a large company, which you can then use to reinvest in buying real estate for your business.
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