Since 2002 we have been building houses. This is our third home and will soon be on the market. Whilst we have done very well in this regard, we feel that our money should be working for us, rather than be tied up for a year at a time. We have read Steve McKnight’s books and attended a seminar and know that we need to stick with property. We love property. Our thoughts are now going out to commercial property, but we know absolutely nothing about it. Is there anyone out there that is doing this? Would you be willing to impart with some of your well needed knowledge. Are there hidden pitfalls? What is the difference between investing in commercial property and residential property? Is commercial property less of a burden? What are some of the things that we should look out for? Can we make a living out of owning commercial property. Help!
You say you are building houses, you don’t say whether you are keeping them or, onselling them to make a profit and if so how much of the work if any you are doing yourselves. broadly speaking industrial property is less trouble than commercial property than residential property. A piece of advice….dont fall in love with property or with any other form of investment for that matter. Whatever form of property you finally decide on, it will only be by holding/improving and borrowing against that, that (I think) you will aquire long lasting wealth. After all your long term goal is to sit b ack and have property keep you, rather that around the other way. If you don’t believe me, ask anyone who has sold property prior to the rise and then ask them whether they would buy the property back at the price they sold it for….. Convinced ??????? Bye for now….
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