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re: To sell or not to sell commercial property?

Posted on 1/27/24 at 7:28 pm to
Posted by TJack
BR
Member since Dec 2018
2445 posts
Posted on 1/27/24 at 7:28 pm to
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?
This post was edited on 1/27/24 at 7:35 pm
Posted by Mohican
Member since Nov 2012
6417 posts
Posted on 1/27/24 at 8:05 pm to
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.

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