Many business owners are doing what they can quickly in order to halt the bleeding, but some expenses, such as mortgages and rent, continue on regardless of our economic environment.
How can business owners help mitigate these costs at the moment?
How Business Owners Are Buying Buildings While Lowering Expenses
A concept that has caught fire in recent years on the residential side is “House hacking,” where an individual buys a house or small multifamily property to live in and rents the remaining rooms/units to tenants in order to reduce their monthly house payment, or potentially even turn a profit.
Though it isn’t as widely discussed a strategy, the same principle is true of commercial real estate - a business owner can effectively reduce their monthly payments by purchasing the building in which they reside.
