Topic: acquiring many properties in the name of owning an asset (Read 635 times)

It baffles me how some wealthy people in our society, instead of owning few productive properties that will stand as assets which will generate proceeds for them, they often enter into owning so many properties which some of them are left in dilapidated state and some of these wealthy men doesn't even know how many properties they've got because of how numerous they have become

My question is that is it advisable to own too many properties that are unproductive with the expectations that they would stand as aids to us in the future or should we just own few assets and make sure they are of the best standards and are generating money for us regularly?

                     My question is that is it advisable to own too many properties that are unproductive with the expectations that they would stand as aids to us in the future or should we just own few assets and make sure they are of the best standards and are generating money for us regularly?

It baffles me how some wealthy people in our society, instead of owning few productive properties that will stand as assets which will generate proceeds for them, they often enter into owning so many properties which some of them are left in dilapidated state and some of these wealthy men doesn't even know how many properties they've got because of how numerous they have become and sometimes some of the people who either stand as agents, witnesses or attorney that was involved in the business dealings hijacks some of these properties without the knowledge of the owner simply because they also have some of the owners documents in their possession.

Maybe they are thinking about doing experimental investment towards those asset to see if it could give something long benefits to them especially that there's a chance for those properties to get its value appreciate.

But this is really a risky investment option to choose since we don't know if some of it will work, knowing that its hard to seek for immediate development of some places especially if their bough asset locates on remote area. And there are certain critical factors that affect its growth.

So for people thinking about doing this maybe they should go on more better options and acquire those assets which can give them assurance that can generate them a profit.

That is the reason why considering the location of a real estate business is important because the challenges faced by real estate owners is location since people are more interested to acquire property in developed areas so it will be difficult for someone who owns a real estate in an undeveloped area to sell those assets when the need comes but places that are developed are the targets of most big investors without minding the high price because there are people that are looking for how to own property in a developed area but finds it difficult because people that owns properties in those areas are not ready to sell due to the high profits those properties generates for them. Even if real estate price skyrockets, so far as it is in a good and industrious area, selling such a property will not be a problem.
Just do your real estate business in a commercial area where businesses are growing rapidly and you will even see so many people coming to ask if you are interested in selling your property even without caring the amount you wish to sell it.

                      For sure we are meant to acquire assets that will stand out for us in the future especially a time when we will no longer have much experience, energy and strength to work again in order to earn a living so our assets gives us the liberty to enjoy the fruits of our labour when we get old and these asset also stands as aid to people around us more especially our offsprings or relatives who are very dear to us at a time when we answer the "call of nature" (death).

                     My question is that is it advisable to own too many properties that are unproductive with the expectations that they would stand as aids to us in the future or should we just own few assets and make sure they are of the best standards and are generating money for us regularly?

It baffles me how some wealthy people in our society, instead of owning few productive properties that will stand as assets which will generate proceeds for them, they often enter into owning so many properties which some of them are left in dilapidated state and some of these wealthy men doesn't even know how many properties they've got because of how numerous they have become and sometimes some of the people who either stand as agents, witnesses or attorney that was involved in the business dealings hijacks some of these properties without the knowledge of the owner simply because they also have some of the owners documents in their possession.         

Just do your real estate business in a commercial area where businesses are growing rapidly and you will even see so many people coming to ask if you are interested in selling your property even without caring the amount you wish to sell it.

In the country where I live, real estate and land prices have skyrocketed and people who want to sell cannot find buyers. There are some who have started to lower prices, but the price is still too high and the sale is not happening. When the prices of such investment instruments suddenly rise too high, even if they seem profitable at first, they turn into bubbles in which you tie up your capital. Assets that you want to sell but cannot sell within a certain period of time are either too inflated or their real value is not what you expected.

One of the most important issues to be considered when investing, not being able to sell when the price is too inflated can put the investor in a difficult situation. Although real estate and land prices are decreasing day by day, these investments are no longer seen as the right investment choice because there are no buyers, especially in countries where credit is not available.

After reading your post, one thing has come to my mind, the more jaggery you add, the sweeter it will be, but one more thing to note is that it is better to keep few useful things in the house than to fill the house with useless things because useless things go to waste and useful things are rare. Therefore, my opinion is that by building a lot of properties, there are properties that you do not even know where your property is.

So, it is better to keep as much as you can in your eyes and save as much as you can build the same amount of property and work hard for it and as you mentioned, relatives are missed a lot at the time of death or in old age, so you should take the people around you and your special relatives too. If the almighty has given you money and you have the opportunity, instead of accumulating unnecessary properties, make your relatives and close ones happy.

Real estate is not a bad investment, it is just that it is one that often moves very slowly unless there is a bubble, so in that case it would be better to try to acquire assets that generate a positive cash flow or to get assets that can appreciate faster than real estate, for example bitcoin, so if I had the money at my disposal I would disregard real estate, as real estate has an additional problem and that is that in the case of an emergency you cannot take the land with you, which ties you to a place for as long as you hold that property.

It baffles me how some wealthy people in our society, instead of owning few productive properties that will stand as assets which will generate proceeds for them, they often enter into owning so many properties which some of them are left in dilapidated state and some of these wealthy men doesn't even know how many properties they've got because of how numerous they have become and sometimes some of the people who either stand as agents, witnesses or attorney that was involved in the business dealings hijacks some of these properties without the knowledge of the owner simply because they also have some of the owners documents in their possession.
                      For sure we are meant to acquire assets that will stand out for us in the future especially a time when we will no longer have much experience, energy and strength to work again in order to earn a living so our assets gives us the liberty to enjoy the fruits of our labour when we get old and these asset also stands as aid to people around us more especially our offsprings or relatives who are very dear to us at a time when we answer the "call of nature" (death).
                     My question is that is it advisable to own too many properties that are unproductive with the expectations that they would stand as aids to us in the future or should we just own few assets and make sure they are of the best standards and are generating money for us regularly?

Many do not know the differences between assets and liabilities, that is why they end up purchasing items which they claim are assets to them but end up becoming a liability to them in the future. I personally do not see any item that generates no economic value and adds nothing to the owner's net worth as an asset. If a person decides to spend his money on items he will have to spend alot to maintain or pay a fortune on items that will depreciate in value in the nearest future without adding any value to the owner, that is entirely the owner's choice but it is not an adviceable way of planning for the future.

Rather than acquire lots of properties that will depreciate in no distant time, it is better to invest in any legal project that will generate lots of returns in the future.

My question is that is it advisable to own many properties that are unproductive with the expectations that they would stand as aids to us in the future or should we just own few assets and make sure they are of the best standards and are generating money for us regularly?

OP, I will like you to give me an example of such properties that are not income generating properties. Because if you are talking about having many houses, it is not a waste of money since someday the house can be sold in a very high price. I don't think that any rich man will want to get a property that does not increase in value as time passes by. Another thing that I observe is that some of these rich people buying properties that is not useful to them is because the money was stolen from somewhere and buying these properties is a way to hide the money without anyone knowing about such funds. People in the government and public offices are the ones doing this.