We bought and renovated our building. I cc'd my wife who can give you more details as that's her area of experience (I'm the IT guy).
Keep in mind that while the loan payments may be less, you'll also have to figure in property taxes, repairs/improvements and other items that wouldn't be a part of a commercial lease (depending on the lease type, of course). Just make sure you do an apples to apples comparison when you're calculating the costs involved. That being said, it does have the upside of not having to worry about things like a landlord tripling your lease because WeWork artificially inflated commercial property values in your area. *Glen Ferguson* Phone: 301-732-5165 Email: [email protected] <[email protected]> Website: http://coworkfrederick.com Address: 122 E Patrick St, Frederick, MD 21701 On Mon, May 18, 2015 at 11:59 AM, Jacob Sayles <[email protected]> wrote: > Sounds like a great idea! I don't have a lot to add as I've never > purchased a commercial building. We lease the building that Office Nomads > is in although we would love to buy it. > > Jacob > > > On Sat, May 16, 2015 at 7:05 AM, Stephanie Miles < > [email protected]> wrote: > >> Hello all. I'm new to the group, at the very beginning stages of opening >> a coworking space in Redding, CA. (pop. 90,000) >> >> I'm considering buying a commercial space for my coworking business, >> rather than leasing. Obviously it's a big financial investment up front, >> however based on looking at the market here, it seems like the monthly >> payments on a commercial real estate loan would be less than the cost of a >> lease on a similarly sized space. (I'm looking at pretty run down >> industrial spaces, with the plan to renovate.) >> >> Wondering if anyone else has done that and what unexpected issues, >> challenges, or even benefits you faced by doing so? >> >> -- >> Visit this forum on the web at http://discuss.coworking.com >> --- >> You received this message because you are subscribed to the Google Groups >> "Coworking" group. >> To unsubscribe from this group and stop receiving emails from it, send an >> email to [email protected]. >> For more options, visit https://groups.google.com/d/optout. >> > > -- > Visit this forum on the web at http://discuss.coworking.com > --- > You received this message because you are subscribed to the Google Groups > "Coworking" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > For more options, visit https://groups.google.com/d/optout. > -- Visit this forum on the web at http://discuss.coworking.com --- You received this message because you are subscribed to the Google Groups "Coworking" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
