Last night we kicked of the 2012 Commercial Property $uccess $eries with CP101- our class on moving from Leasing to Owning.
Excellent presentations by Deborah Oester from Columbia Credit Union about preparing yourself to aproach a Commercial lender,
Jim Bright on the SBA 504 program, and Ron Frederiksen of RSV Building Solutions on how to most effectively manage development issues.
We’ve been doing these classes since 2009. Here are some take aways as we start 2012:
1. The Fed has said interest rates will remain low through 2014 – take advantage
2. The Lending process can be time consuming – add this to build out time you can easily take 6 to 9 months
3. SBA 504 loan – you can lock in 20 year fixed interest rate costs- with 10 % down payment
4. Don’t wait until your looking for properties to put your finacials in order
5. There are many great expamples of local companies who make owning their busienss property part of their business strategy
and significanty increase their ability to build wealth.
Our next session will be on Wednesday March 28th