Convention QA: Buying a Building

November 8, 2023

Video Transcript:

My name is Renee Lindquist, and I am from the Ceramic and Pottery Center. What happens if you wanna buy the building you’re renting?

Thanks Renee. That’s a great question. Buying a building is a big step in a business owner’s life, but it can also be another great way to invest in your business and yourself. So the first step in buying a business building is to look at what the pricing is. First off, talk with your landlord. If you’re looking to buy an existing structure or if you’re looking to buy another building, you want to get some pricing information, we can help you analyze that price and let you know what the effective cost per month would be for you so you can compare it to the rent you’re currently paying or would pay in another location. We want to make sure that this is a good deal for you. It’s in a lot of cases, another place where you don’t have to spend money on rent and never see that money again.

Perhaps you’ll be building a long term nest egg in that commercial building. You may also have a little more flexibility and that if you make improvements to that building there, they’re yours to keep. If you make improvements to a landlord’s building. And you’d have to move for any reason. Those improvements are gone. So let’s take a look with you and help make sure that this is a good business decision. The biggest case is, looking at the financing, looking at what rates of interest you’ll be able to get and what leverage you have to make sure that this is a good deal for you.

Donna Bordeaux, CPA with

Creativity and CPAs don’t generally go together. Most people think of CPAs as nerdy accountants who can’t talk with people. Well, it’s time to break that stereotype. Lively, friendly and knowledgeable can be a part of your relationship with your CPA as demonstrated by Donna Bordeaux and PYOP Donna and her husband, Chad, who is also a CPA, have over 50 years of combined experience as entrepreneurial CPAs. They’ve owned businesses and helped business owners exceed their wildest dreams. They have been able to help PYOP studios earn 4 times more profit than the average PYOP and are passionate about helping industries that help families build great memories.