Even though we have seen some signs of improvement in today’s economy, we still may have sometime before we start realizing a solid recovery. Many practitioners have been asking me similar questions, “Should I take my practice to the next level now or wait until the economy rebounds?” Even though, some professionals feel they should wait, on the contrary, it couldn’t be a better time than to do it now! If you have been considering to start-up, expand, remodel, refinance, or purchase your practice, here are my seven reasons why you should not wait.

1 Rent Expenses have Bottomed Out

Building owners and landlords wanting to rent space in today’s market are desperate and willing to work with potential customers. Along with lease payments and terms being highly negotiable, many are offering huge incentives as well. Deferred rent during and after build outs, fee waivers, and major allowances of tenant improvements being included, is practically becoming standard. While the market is at an all time low, locking in now for a 15 or 20 year term, may help the value of your practice tremendously as it matures.

2 Commercial Real Estate at a Super Value

It’s not a secret, and everyone knows where the current commercial real estate values have fallen to. If you have been contemplating acquiring the building or condo your practice is currently in, expanding by purchasing your first property or by moving to a better location, there couldn’t be a better time. There are some great values and opportunities in today’s commercial real estate market. Along with the tremendous prices, sellers are willing to carry a good portion of the financing and banks are much more eager to finance a practice with real estate and seller participation involved.

Another interesting benefit for borrowers considering owning vs. leasing, is that borrowers typically see a 10-20% reduction in their real estate expense by owning rather than renting. In addition, due to long term fixed rates, borrowers have less concern over future rate increases in rental payments. Also, due to the down turn in real estate values, the potential for equity build up, via appreciation, is huge. Many clients are purchasing commercial real estate for 30-60% of the value, compared to 2007.

3 Supply & Demand in 2012

While demand for equipment, supplies, furniture, and construction needs have declined, costs for these items have followed as well. Since some practitioners have waited to start projects, purchase capital equipment, remodel and build, discounts and cost-saving opportunities have developed in the marketplace. In order to close more business, many vendors and contractors are offering free software, credits for future purchases, low fixed rate financing, discounted cabinetry, free accessories and major discounts for construction labor.

4 Today’s Prime Interest Rate and Future Forecast

Traditionally, the Wall Street Journal (WSJ) Prime Rate was determined by polling thirty (30) of America’s largest banks. When twenty-three (23) of those 30 banks had changed their prime lending rate, The WSJ would respond by updating its published Prime Rate. Since December 16, 2008, however, the WSJ now determines the Prime Rate by polling the 10 largest banks in the U.S. When at least 7 out of the 10 banks have changed their Prime, the WSJ will update its published Prime Rate.

The current Prime Rate is 3.25% and has not changed for the past 36 months since December 2008. The average rate over the last 10 years was 5.21%. Lower rates over the past 36 months compared to the average rates over the last 10 years serve as an indicator that the long term rate trend in Prime Interest Rates is down. According to forecastchart.com, the forecasted Prime Rate for 2012 is 3.25%

This is one of the greatest times in history to take advantage of low borrowing rates. By locking in with a Fixed or Variable Rate now, you will never regret it.

5 Don’t Miss this Window of Opportunity

If you’re intending to try and “wait it out” you need to reconsider. You may miss this window of opportunity. You may end up starting your project while your colleagues are doing the same. Office space and construction, property values, equipment, supplies, furniture and fixtures will all be more expensive, there will be much more competition, and only God knows where interest rates will be.

Don’t forget, even if the current unemployment rate is approximately 9.1%, that leaves over 90% of the population still employed. America is still the strongest economic power in the world, and will continue to remain the “land of opportunity”. By laying the ground work and building your foundations now, it will ensure that when the economic climate starts rebounding, you will financially surpass your competition.

6 & 7 “4.9% Fixed Rate Financing & $500 Cash Back”

Here are my two (2) final reasons to act now and thrive in today’s economy.

For a limited time only, get pre-qualified for your practice financing by February 15, 2012 and commence funding by March 31, 2012 and receive a 4.9% Fixed Rate Practice Loan and $500 Cash Back.  Restrictions:  Limited to:  (1) the first 50 funded loans, or February 15, 2012 whichever occurs first; (2) transaction type, terms and certain states.; (3) Minimum loan size $250,000.  4.9% Fixed Interest Rate based on January 2012 current cost of funds and may fluctuate slightly on a monthly basis prior to final funding.  For a limited time Call 1-800-683-0608 today to get pre-qualified!