What Started the Change

With experience in business, this owner wanted to take things slow and steady until retirement. However, as cameras became less prominent for most people, his company struggled. At the same time, he’d always wanted to try something else. Namely, he’d imagined for years what it might be like to rent out properties for all the new families in this Midwestern city.


Before he made the leap, he made sure he understood what he would be getting into – and that he was getting out of something without regrets. Then, after talking to other business owners in the area and looking at information on renters in the city, he knew what the next step would be.

Getting Started as a Property Owner

One thing the owner knew was that he’d need money for properties if he was going to rent them. So he researched average prices and considered exactly how much work he was willing to put into the new company. In the end, he knew he would need $1,000,000 for three homes that could then be rented and afford him more time to spend with his hobbies and family.


Choosing the Right Form of Financing

It was evident from the start that a commercial real estate loan could be the answer. He had excellent credit, significant equity in his own home and a solid business plan. He thought he’d be a good candidate for this type of financing. It turned out that his initial instincts were right, and commercial real estate financing met his needs perfectly.

Reasons to Select a Commercial Real Estate Loan

The fact that this loan was designed around real estate made it a great choice. Of course, it didn’t hurt that the terms gave him 30 years to pay off the loan. In the meantime, he could make money with his new properties by renting them to young families and professionals in the area. After exploring other options, it seemed like a good bet for his needs.


What Happened After?

The owner was able to get the loan and got into the excitement of choosing properties, fixing them up, and putting them out as rentals. He’s making more money than he did with his previous business and has time to kick up his feet and enjoy life. While this wasn’t the way he expected his life to go, he’s loving every minute of it now.

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