As you decide which garage-condo to purchase at Monterey Motorsport Park, you may be thinking about a lot of things: Which location is best for your needs? How do you want to customize your mezzanine space? Should you install a lift for your cars? Do you want a private restroom for you and your guests?
But you may also have questions of a financial nature. Is it better to lease or buy? What kinds of financing options are available? Are there tax benefits you can take advantage of?
You can find answers to your questions right here.
Working closely with a variety of financial experts — CPAs, tax specialists, lenders, and cost-segregation professionals — we’ve compiled a variety of resources as well as links and listings of people to contact for more information.
Lease vs. Buy
Should you lease or buy your garage-condo? Check out our illustration to learn how your decision can impact your family’s finances over the life of your investment.
If you do decide to lease, we offer plans with competitive rates for terms of from one to five years. Find out more.
Thinking of financing your purchase? We offer both conventional and SBA loans. Now’s an especially good time to take advantage of the SBA’s attractive rates and terms — as well as provisions of the CARES Act that offer loan forgiveness when certain conditions are met.
Lenders to contact:
Joe Maleti, EVP–Division Manager, Commercial Real Estate Lending, at Avidbank at (408) 831-5644. Or email firstname.lastname@example.org.
Conventional financing: Doug Fischer, Senior Vice President Relationship Manager Construction & Commercial Real Estate, Santa Cruz County Bank, 831-457-5003 ext 2149
Cost-Segregation Tax Benefits
Look into how an IRS-recognized, time-tested and fully documented practice called cost segregation can accelerate first-year write-offs for your small business by thousands of dollars.
Download our free white paper to share with your CPA and tax specialists.
If you have any questions about leasing vs. buying, financing options or tax benefits, contact any member of our brokerage team: