Nashville businesses may decide to increase their revenues through investments. One type of investment that could be lucrative involves the purchase of real estate. Those new to this potential income stream may need more information about what it means before making the decision to add one or more pieces of property to their investment portfolios.
An investment property is not used as a business’s primary location. Instead, it could be rented, provide dividends or some other form of passive income for the company. Choosing the right property could make the difference in whether it achieves the company’s income goals. One of the first issues to look at is the zoning for a desired piece of property.
Some property could be zoned for either or both residential or commercial use. In this case, an extensive analysis of the area could help determine which direction to go with it in order to maximize its usefulness, which helps determine its income ability. It may turn out that the best way to use the property would be to combine both commercial and residential capabilities in what is referred to as mixed-use zoning. This type of zoning is becoming more popular as people want to work, shop and engage in leisure activities in the same place they live.
A Nashville business wanting to enter into the investment property market will undoubtedly have numerous questions. Obtaining the answers to those questions could be as simple as sitting down with a real estate attorney. Thereafter, a legal advocate could prove invaluable in order to facilitate the purchase process in a way that helps maximize the earning potential of the property.