8 Ways To Use Your New Commercial Property for 2022!

October is here, which means that we’re in the home stretch of 2021! Now is the perfect time to look ahead at your commercial property goals for 2022. 

Our property experts in Harlingen will help you lock down the ideal property to turn your entrepreneurial dream into a reality. Whether you’re thinking of investing in an apartment building or a hotel, the opportunities are endless.

Now, sit back and read about 8 different ways to use your new commercial property for the year ahead.

 

How To Use Your Commercial Property in 2022 

 

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Often, these commercial properties include duplexes, townhomes, and apartment complexes, such as:
    • Duplex, Triplex, and Quadruplex Properties: These types of properties are essentially multi-family homes that share two or more units within the same building. 
    • Garden Apartments: These commercial properties are usually 3 or 4 stories high with 50 to 400 units. They typically do not have elevators and will always have shared spaces of yards and land space.
    • Mid-Rise & High-Rise Apartments: These apartments are mid- to high-rise when they have 12 or more stories. You may want to consider building some mid- to high-rise apartments in Harlingen!
Invest in the next Marriott or Four Seasons Hotel for the city of Harlingen. Consider using your commercial property for full-service, limited service, or extended stay hotels. Help give tourists and visitors a place to stay in Harlingen.
Consider turning your commercial property in Harlingen into an office building! There are various classifications of office buildings that you may take into consideration, such as:
    • Central business district office buildings: Consider office buildings closer to downtown Harlingen.
    • Suburban office buildings: You can also use your commercial property to build large mid-rise office buildings further away from the city center.
Consider using your new commercial properties to create spaces for retail, such as shopping centers, regional malls, or smaller community retail centers.
If you’re starting a business and need a place to manufacture, assemble, and build your products, consider using your commercial property in Harlingen to build an industrial building.
    • Heavy manufacturing: Often, these buildings house heavier machinery.
    • Light assembly: These buildings may house a mix of manufacturing, assembly, and office spaces.
    • Flex warehouse: These buildings are for both industrial and office spaces.
    • Bulk warehouse: Usually 50,000-100,000 square feet, these industrial property buildings are made to store and distribute products.
Mixed-use commercial properties are usually a mix of office, residential, multifamily, retail, or industrial buildings. Here are some ideas to help you:
    • Create a blend of mid or high-rise apartments with various retail spaces below.
    • Use it for an assembly and office space in one place. 
    • Be creative with your commercial property in Harlingen, Texas. 
Your commercial property can also be used for a variety of reasons:
    • Agricultural land is used for animal farms, ranches, and pastures. 
    • There are lands available known as infill or brownfield land, used for development but are now vacant and available for other uses.
There are many other uses for commercial properties, such as:
    • Movie theatres
    • Zoos
    • Stadiums
    • Sports fields
    • Amusement parks
    • Entertainment purposes

 

If you are an entrepreneur looking to buy land to make a commercial property, reach out to our dedicated team today to learn more about how we may help you! via @SRCLand #sellerfinancedland #commercialpropertyinharlingen #HarlingenTX
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At SRC Land, we help people with seller financing and loan servicing. We urge any entrepreneurs looking for their next commercial property investments for 2022 to contact us right away. Your dream is waiting for you at one of our commercial properties for sale in Harlingen, Texas.

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How Investing in Land Can Benefit Your Taxes

Making the decision to purchase land offers lifetime benefits. The more time you have owning the property, the more your land will appreciate.
But that’s not the only benefit you’ll get out of this worthwhile investment!
As a landowner, you may be eligible for certain tax deductions depending on the property and the purpose it serves, and the land developers at SRC Land want to discuss this a little more in depth for your benefit.

But before we dive in, if you are new to buying land in Harlingen–whether it be for commercial or residential purposes–don’t forget to check out our other blogs that demystify the initial process.

Land Investors Get Deductions

As someone who invests in land, you are considered someone with hopes that it will ring in appreciation and raise in value. Whether you decide to buy raw land or property that you intend on renting out for income, deductions should be available.

  1. Interest Deduction
    The same process someone would follow to acquire a loan to finance a home applies to investors who might need to borrow money to buy their land. Interest will add up based on how many years you own and pay for the property.
    You can be eligible for deductions on interest when choosing to file taxes as an itemized personal deduction. A yearly deduction or “net investment income” is limited to the difference between the annual cost of property tax costs and investment expenses (not including interest expenses).
    If you own the investment land by yourself, you may also wish to get back interest deductions on IRS Schedule E.
  2. Property Tax Deduction
    Those who have invested in property with the intent of building a home but have not yet done so may not be able to claim interest and property taxes unless they have a loan ready for the process of preconstruction.
    Vacant land owners should ensure that their loan is secured before filing their taxes to offer some security being placed into their future potential home. If the loan for home building is voided, then vacant landowners may not request property taxes.
    It is in your best interest to have tax deductions for “raw land” filed as a personal itemized deduction under Schedule A for those that have a loan prepared.
  3. Rental Property Deductions
    Property owners may take deductions if they happen to rent out the property by filing under IRS Schedule E along with their corporate tax return.
    Depreciation deductions can be sought out if you rent your investment property for buildings like apartment-style homes or even commercial businesses. These kinds of deductions are applicable for whatever is affected by the renter.
    These deductions may also apply for property improvements which are being prepared for commercial usage, including developing streets on the land for businesses to use.

Capital Gains and Reduced Tax Rates

Capital gains are the profits that investors make when selling their property, whether it be residential, commercial, or industrial property. Capital gains provide a reduced tax rate contrasted with average income tax.

There are primarily two ways this is taxed:

  • Short-term: These gains on property are held in less than a year. There are no special tax benefits that come from short-term gains since it can fall 10% to 37% depending on your income.
  • Long-term: These gains come from property that was upheld for more than a year. This is mostly relative to rental properties and guarantees a significantly lower tax rate when compared to short-term gains.

As an investor, you want to make sure you have leverage on long-term capital gains. Not only will you have a decreased tax rate, but you can also take advantage of deductions acquired over the property-ownership period to reduce the taxable estimate.

How Deductions are Different for Real Estate Dealers

Individuals who are investing in land for the purpose of re-selling at a higher rate are also able to apply for deductions. They would be able to access the same deductions that an investor would be, such as interest and taxes deductions. As a sole proprietor, you would file under IRS Schedule C. The only thing you wouldn’t be eligible for is depreciation bills.

Investing in Land Is a Worthwhile Investment With SRC Land

Even though you will be expected to pay off taxes when you buy land, it is a worthwhile investment due to the simple fact that land can increase in value as time progresses, or you can even make an influx of income while renting it out.
If you have an interest in investing in a property, remember that all forms of land purchasers can apply to some degree of deduction on tax and interest.
Find the right investment for you when you call SRC Land for more information on our reasonably priced properties for sale in Harlingen.

Find the right investment for you when you call SRC Land for more information on our reasonably priced properties for sale in Harlingen.

Contact SRC Land Now

How to Secure Your Down Payment for Land

Deciding to invest in commercial properties in Harlingen, Texas is an excellent choice and one that the staff at SRC Land supports entirely. Land ownership in Texas is an increasingly profitable investment, and thankfully, there are basically unlimited ways to profit from purchasing commercial properties in Texas.

Residential properties, on the other hand, also make a great foundation for your American dream in the state. No matter what your reasons are to consider beginning your land ownership process, the expert team at SRC Land can help.

The first step in purchasing more property is ensuring you have enough money to make an initial down payment. Typically, this is just a percentage of the entire cost and will be used to help you finance the payment in full over time, so it is important to make sure you’re in a place that’s financially sound for acquiring more property. 

1. Reference Your Financial Portfolio and Savings

While you may be surprised by how much you already have saved, it’s important that you check all the assets you have including certificates of deposit (CD), money markets, saving accounts, and other funds you may have in financial institutions. You may not wish to spend the entirety of your savings on a property purchase, but your available funds and assets should help you determine if taking this big financial step is right for you.

2. Sell Unneeded Valuables and Hold a Garage Sale

Take a look around old storage spaces in your house, like the garage, attic, or crawlspace. You’ll want to find big-ticket items that you can sell for a profit, anything from an extra vehicle not in use anymore to spare pieces of jewelry laying around.

While it may be hard to part with some of these items, selling them can help you reach your financial goals to purchase property. Advertise for a garage sale in your community, and set a date to try and get sell some of the items you find and are comfortable selling. 

3. Join Online Selling Platforms

If you want to take a more virtual approach to earn some extra money, there are websites like Letgo and Poshmark where you can open an account on to sell products laying around your house that you aren’t using as regularly. In addition to clearing up space in your home, you can work your way to getting even closer to having sufficient funds to purchase a new property. 

4. Team Up With a Family Member to Save

If you have a person in your life who you trust and you would like to share your new property with, work out the details of the payments and ownership before moving forward with anything else. This can be an excellent, if often overlooked, way to acquire new property. This method can help you and your loved one expand investment options as well as your assets. 

5. Take the Owner Financing Route

It is common for property buyers to work with sellers on paying off the overall purchase of the land. This is especially helpful if for some reason you can’t get a loan to help with the purchase. Owner financing is a way for those without credit or with poor credit purchase land by allowing them to seek financing directly from the property owner.

This process bypasses the usual red-tape associated with traditional lending and allows lenders and borrowers to negotiate terms more directly. While it may not be a possibility with every lot distributor, SRC Land can help you purchase the lot of your dreams through a seller financed mortgage.

SRC Land: Making Land Ownership a Reality in the City of Harlingen

Our team at SRC Land is committed to helping you weigh out your different options when it comes to moving forward with this new purchase. Follow these steps, take stock of your assets, and let us know how we can help you pursue your dream of owning new residential or commercial property in Texas.

Looking to purchase land in Harlingen? The road to land ownership is one call away.

Contact SRC Land Today

A Little Property Spring Cleaning Can Do You Good During COVID-19

Our team at SRC Land knows the number of days sheltered in place from the COVID-19 pandemic has taken a toll on us, but with spring halfway through, what most people feel like doing right now is getting outside and breathing in the fresh air, all the while maintaining a safe distance from others and following government guidelines, of course.

Since there are few places to go right now where everyone may feel at ease, we compiled a few tips on how to use this spare time to do a little spring cleaning of your property, or if you’re up for it, give yourself time to think of new projects, big or small. Tackle these tasks and enjoy the outdoors by beautifying your newly-purchased property today.

1. Assess Your Plan for Gardens and Landscaping Projects

This may seem like an obvious place to start for spring cleaning, but it’s a step that can often be overlooked. A good way to stay organized on all the different projects you may want to achieve is by drawing up a map of your land, one how it is currently, and then going back and adding any renovations you’d like to make. 

These changes can be as simple as repaving a cement pathway you already have, adding new fencing that has worn down during the last few seasons, or maybe deciding where to put your vegetable garden.

2. Spruce Up What’s Already There

Any trees or bushes that are starting to look overgrown may be in need of some pruning. If you are removing weeds or cleaning up a flower bed, you may want to use scissors instead of pruners since they’ll be gentler and more precise. By the same token, make sure you are edging your garden for that nice, sleek look on your property.

This can also be an excellent time to get rid of extra debris on your property that blew or fell on to it. Grass health is one of the most impressionable elements a property can have, but if yours is covered with dead leaves and twigs, it’s unlikely the grass underneath is getting the amount of sunlight it needs to thrive. Place the refuse in an appropriate, large trash bag, and then, check with your local trash pickup service to see if they can pick up the bagged refuse.

3. Protect What You’ve Planted

There are few things more discouraging than investing many hours in yardwork, particularly new flowers or plants, and then seeing that rabbits or other animals have destroyed them within a week or so. In addition, local wildlife like our long-eared friends can dig up holes all over your yard, affecting its overall look. By putting up some discreet fencing around your yard, garden, or newly planted flower beds, however, you can mitigate the risk of animal visitors coming by for a snack on your hard work.

For pesky plants like crabgrass, herbicides are known to be helpful in keeping them from growing where you don’t want them to, and as always, whenever using chemicals on your property, research the product’s brand online and follow the instructions closely to keep your lawn, yourself, and others safe. When in doubt, a little elbow grease (pulling them out by hand) can go a long way.

Any property owner’s favorite part of spring cleaning is completing the tasks and then being able to look out on the work they’ve done with a sense of pride. This is just one of many things you have to look forward to as a property owner, and if you aren’t one yet, SRC Land has a great number of lots for you at an affordable price.

Lots for sale in Harlingen for a great price. Get started on your family legacy today.

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