Smart property moves for small business owners
Redfin: 17% of homes purchased in Q4 2024 were bought by investors
(InvestigateTV) — According to NerdWallet, housing inventory is up 20% compared to this time last year—suggesting a potential market shift that may benefit buyers. For entrepreneurs and small business owners, this could also mean new opportunities to invest in real estate.
Carlton Ferguson, a real estate professional with Samson Properties, has guided many first-time buyers and small business clients through the often daunting process of property investment. One of the most common questions he receives: When is the right time to buy?
“I would say it’s a great time,” Ferguson said. “And the reason why I would say it’s a great time is because, even though people are complaining about the interest rates, the prices of the houses are not high as they would be if the interest rate were low. And then you would have more competition. So, I would say if you’re looking to invest, you need to invest now.”
Ferguson said whether people are looking to purchase a four-unit property or a 50-unit building, it all comes down to the numbers and their wallet.
He reminded potential investors to do their homework before starting a property search:
- Pull credit score
- Research loans
- Have enough money saved
- Understand the local market, especially if the investment location is in a different region
“If you’re looking to rent it out, do you have a property management company? If you’re living in, let’s just say Miami, and you’re buying property in Chicago, are you familiar with that area?” Ferguson asked. “Have you had an inspection on that home?? Do you know the inspection company? Make sure you have a great realtor that’s from that area, familiar with that area. Don’t just go over what you’ve seen online.”
Ferguson also reminded that some state and local governments offer special tax credits and financial incentives specifically for small business, so there may also be state-specific small business loans to help launch a dream business.
The U.S. Small Business istration’s website also has a list of free resources, including a calculator that breaks down start-up costs.
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