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re: To sell or not to sell commercial property?
Posted on 1/27/24 at 7:28 pm to Mohican
Posted on 1/27/24 at 7:28 pm to Mohican
How old are you? Family? Wife? Would this be like putting all your eggs in one basket for retirement? Or do you have other investments?
ETA: if you sold would you put all that toward retirement? And would that generate your retirement number?
ETA: if you sold would you put all that toward retirement? And would that generate your retirement number?
This post was edited on 1/27/24 at 7:35 pm
Posted on 1/27/24 at 8:05 pm to TJack
40 y/o, married 2 kids.
All our eggs are currently in this basket, yes.
I run a construction subcontracting company that does about $1-1.5M per year. Pay myself about $70-75k plus bonuses when I can. Wife makes 40k.
If I sold I would want to immediately put the money in some kind of investment. Being self-employed I don’t really have a retirement account per se. It’s this building and that’s about it. But real estate just seems like such a magic bullet and this has been a damn good one.
Worst case scenario I can’t fill a tenant and have to sell out. Would I get list price? Who knows but I mean it pulled list without even listing it lol.
No guarantees though that’s for sure.
All our eggs are currently in this basket, yes.
I run a construction subcontracting company that does about $1-1.5M per year. Pay myself about $70-75k plus bonuses when I can. Wife makes 40k.
If I sold I would want to immediately put the money in some kind of investment. Being self-employed I don’t really have a retirement account per se. It’s this building and that’s about it. But real estate just seems like such a magic bullet and this has been a damn good one.
Worst case scenario I can’t fill a tenant and have to sell out. Would I get list price? Who knows but I mean it pulled list without even listing it lol.
No guarantees though that’s for sure.
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