07: Avoiding the Common Pitfalls of Leasing or Purchasing Commercial Real Estate With Nathan Smith
Profits to Wealth
English - January 14, 2020 08:30 - 57 minutes - 53 MB - ★★★★★ - 8 ratingsEntrepreneurship Business Education Self-Improvement entrepreneurship financialplanning investing money wealthmanagement buildingwealth businessadvice businessgrowth businesslessons businessmastery Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
In this episode, Nathan shares valuable insight for listeners looking to lease or purchase commercial real estate. He shares the most significant pitfalls associated with commercial real estate transactions and how to navigate them. Nathan also shares some tips on what business owners should look for when negotiating their next lease as well as when they should opt to purchase instead of leasing.
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Show Quote
"Pride deafens us to the advice or warnings of those around us."
ResourcesAustin Tenant Advisors -– Nathan Smith’s boutique commercial real estate firm that exclusively helps tenants and buyers find the right space for their business in the Austin, Texas area.
Feel the Fear and Do It Anyway -– A book Nathan Smith highly recommends for people who want to try new things and get over their fear of failure.
Ego Is The Enemy -- Recommended in this episode by Jack Marino Jr., Ryan Holiday’s book explores how history was made by people who fought their egos.
Key Takeaways
1) Begin looking for the space you need for your business 6-12 months before you need it. The process of leasing commercial real estate can be long and complicated.
2) Don’t over-negotiate. There’s more to negotiations than focusing on the rate.
3) When considering leasing office space vs. purchasing, consider what will provide you with the best return.