Live Above the Store
It used to be a common thing. People would buy or build a building, have a retail store downstairs, usually in a downtown area and live in the upstairs part of the building.
It has a lot of advantages. You are on the premises all the time so it helps with having to work all the time. You only have to pay for one building. Commuting and its accompanying expenses are a nonissue.
You might buy a building where you rent apartments to others and live there, too. In fact your real estate becomes your career and provides your income, too. Financing is available for these types of investments, within certain parameters.
But what if you don’t really want a real estate career? Not everyone does. Renters can be a real pain.
Maybe instead you want some other type of business.Maybe you want to live where you work and not rent spaces to others.
You can still get a loan to buy a building and have a business and live in it, depending on location and the type of business. Look for something that would be a good retail location where you might like to live, too. SBA loans are your best route for owner occupied properties. If you are turned down for an SBA loan, you can go with a hard money commercial loan aka, Commercial Loans In Business Less Than 2 Years.
Most of us know a few people who are living like this. It works great for all kinds of businesses, but especially retail. Antiques, designer clothing and tailoring, bakeries and catering, party planning, dry cleaning, and many other local and popular businesses can and do use this model.But there are other ways to design this type of lifestyle choice where your living space and your business space are the same location.
A mail order, web based business could start in your home’s garage, guest room or dining room. Many homes are businesses where no customers come to the door. All business communications occur on the web. In this type of business model neighborhood codes and covenants are not a problem if you need to turn your big old suburban house into a business location. Keep it neat on the outside and the neighbors will never know. They will think you are rich or retired unless you tell them different.
Many repairmen, electricians and plumbers work from their homes. Even car mechanics will work from a home based location as mine does.
Lawyers, doctors, psychologists and accountants can also use this type of option in mixed use locations which might be ideal for what they are doing. Writers nearly always work from home. Some researchers could, too.
But there is another option. You could have a living space in a warehouse or factory building, too. Artists often do this. They can buy or rent a good work space that is NOT in the best part of town and live in it, too. Many types of manufacturing, mail order, machining, upholstery, tile and stone businesses and other options can work for someone who no longer wishes to be a wage slave.
The most tantalizing part of this very practical option is that the businesses can start small and grow large without carrying the crippling expense load many entrepreneurs try to carry.
Starting a business always takes longer and costs more than any entrepreneur wishes.
Anything you can do to limit and control expenses can make a real difference in enhancing your chances of success of Commercial Loans In Business Less Than 2 Years.
Since the down sized or fired former employee is often forced into self-employment by circumstances beyond their control, expenses matter a LOT to them and to most people starting businesses.Controlling expenses can fuel big dreams. Work from home or live at work to jump start your future.