Start Small in Commercial Properties
Commercial properties include stores, strip malls, shopping malls, offices, recreational buildings, or others. Each type is served by a group of specialty
lenders you can work with. Let's see how you can get rich in commercial types of property using unique lenders.
Know the Range of Commercial Properties
To give you an idea of the range of commercial properties you can own, and earn money from, here's a quick summary of a number of types:
- Amusement and recreation — such as bowling alleys, indoor and
outdoor tennis courts, billiard rooms, dance halls, theatres, or other recreations.
- Churches and other religious structures — such as synagogues, mosques, temples, cathedrals, or other religious structures.
- Schools and other educational structures. Private schools offer good potential earnings for you in many areas of the country today.
- Hospitals and nursing homes. Private hospitals and nursing homes offer substantial income chances for real estate BWBs. Ownership is best for people who
are health professionals.
- Hotels and motels. Room rental income is your main source of revenue in these properties. Restaurant and lounge income can also be significant in larger
hotels and motels. Likewise, casino income can exceed room and restaurant income where such establishments are permitted by local law.
- Parking garages. Such structures are confined mostly to large cities where safe and adequate parking are scarce.
- Private and professional offices. These can be highly profitable for you when you own and rent to professionals. Why? Because your tenants are reliable
and need their space for income. So they pay their rent on time and in full every month!
- Public and administrative buildings. For BWBs, these include post offices and similar small buildings. Rental is the big income source from such
buildings.
- Service stations. Gas stations are the most common example of combined income (fuel sales and repair of vehicles) and
ownership for BWBs.
- Stores, shopping malls, and other retail buildings. BWBs often start with one store as part of a residential property and expand from there as they
acquire a liking for the business.
- Utilities buildings. Such buildings are for EWBs—Experienced Wealth Builders—with years of real estate experience. Examples of these buildings are
electric and gas power company facilities.
- Other nonresidential buildings. Any other type of nonresidential property comes under this category. What you do with it depends on the type of property
and the function it fulfills. Hence, what you can do with it varies widely with your interests and skills!
So start thinking what you could do with one of these properties to build your wealth in real estate today! I will help you every step of the way. lust be
sure to pick a property type you like!
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