With an expansive 267,000 square miles of land and a population of 29 million people, Texas offers some of the most attractive investment opportunities for those interested in purchasing commercial real estate.
Markets in Texas with stable growth rates offer better opportunities for investors having a long-term investment strategy. Since Texas is a tax-free state, it offers profitable deals in terms of real estate investment. Moreover, it’s ranked the second most crucial state for trading in the U.S.
Since buying commercial real estate can be a complicated process, consider the following factors to help you get started.
Evaluate Your Situation
When planning to buy a commercial property, the first step is determining your finances and the down payment you can afford. For instance, investing in a commercial property for your business depends on whether your company is stable or undergoing a period of growth.
Based on your purpose of purchase, review the different types of commercial properties. An investor may plan to rent out the property, use it for their business, or simply add it to their portfolio. Once you determine the kind of commercial property you need, you can look for an ideal location.
Determine the Location
With businesses booming in Texas, it’s not surprising to see people flocking to the state. According to statistics, nearly 145 people moved to Austin every day between 2017 and 2018. The growing population in Texas earned it the position of the highest-growth city during this period.
When it comes to finding the ideal location in Texas, consider buying a commercial property in Dallas-Fort Worth or Austin – the top real estate markets in the U.S. for commercial and residential businesses.
Secure Your Financing
When looking for a commercial property in Texas, evaluate your financing options by checking your credit. Your business credit score and the report depend on your lender and the type of loan you’ve applied for. Some lenders may also assess your loan.
According to your property type, credit, and other factors, opt for one of the following financing options and be sure to compare repayment terms and interest rates.
- Conventional commercial real estate loans
- Hard money loans
- Apartment loans
- Seller financing
- Friends and family
Working With Professionals
Purchasing a commercial real estate property in Texas can be a complicated process. Experienced investors understand the need to work with the right experts to ensure the investment will be a success.
Consider hiring experts such as a loan officer, realtor consultant, and property advisor specializing in all types of commercial properties. In addition to offering financial advice, they can help you handle your mortgage loan needs and keep an eye out for all potential properties in Texas.
At Z Finance Solutions, our home buying counseling programs, commercial property advisors, and first-time homebuyer down payment assistance programs have got you covered. Our professionals aim to make the process of purchasing a commercial property a lot easier.
Reach out to us today to learn more.
