Tune in as Paul Neal reveals essential strategies for salon owners looking to own their building and build wealth.

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KEY TAKEAWAYS:

🔅Gain Financial Stability and Build Equity: Buying the building your business operates from offers a long-term investment that builds equity and creates financial stability over time.

🔅Plan Ahead for Property Ownership: Begin the process well before your lease expires, ideally 12-24 months in advance, to maximize options and smooth the transition.

🔅Work with a Commercial Realtor: A skilled commercial realtor can help you find the best property, negotiate favorable terms, and guide you through market-specific nuances.

🔅Understand the Power of Equity: Equity is the difference between your property’s value and what you owe on it, building wealth as property value and loan payments progress.

🔅Leverage Tax Advantages and Expense Control: Owning your space provides tax benefits and shields you from unpredictable rent increases.

🔅Strong Cash Flow is Essential: Maintaining healthy cash flow and financial stability is critical to securing the best financing options for your property purchase.

👉Go to OwnYourBuildingNow.com and get a copy of Un-lease Your Business to read through and get your baseline understanding of Commercial Real Estate as a first step to buying the building you run your business out of.

👉Connect with Paul on LinkedIn

👉Learn more about Vantage Point Commercial Capital

👉Check out Paul's podcast, "The Brick & Mortar Money Podcast"

The Hairdresser Strong Show is all about Salon Owners, Rising Stylists, and Seasoned Stylists sharing their experiences, successes, failures, and advice to inform, educate, and empower their Fellow Hairdresser. We won’t stop until we are all: Hairdresser Strong.

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The views and opinions of our guests are theirs and important to hear. Each guest's views and opinions are their own and we aim to bring you diverse perspectives, career paths and thoughts about the craft and industry so you can become Hairdresser Strong! They do not necessarily reflect the positions of HairdresserStrong.com.