For many business owners, the idea of owning property is an attractive one. After all, real estate is often seen as a solid investment, and having control over your space can be appealing. However, financial expert Dave Ramsey warns that purchasing property for your business isn’t always the best move. In a conversation on the “EntreLeadership” podcast recently, Ramsey explained why leasing may be the smarter option—especially for growing businesses.
The Temptation to Buy
During the episode, a caller named Mike from Dallas shared his situation. He owns a commercial Christmas décor business that supplies large holiday displays for major locations like casinos, hospitals, and town centers. The company is profitable, with a projected $1.8 million in revenue for this year, and doesn’t have any debt. However, the business is struggling with storage. Mike currently leases three separate warehouses and is considering building his own space to streamline operations.
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While Mike’s desire to own a property is …
