Thank you very much for the advice. It's really good to know that there may be some downsides to commercial property. I've thought of this on and off for residential but always have been a little leery because of the high maintenance required, so I thought commercial property would be the better way to go. It's good to know early on that there are some considerations there.
I need to look in it a little bit more to figure out how much money we are talking about and let Martin and Geetha know. Just to see if they balk as people tend to do when they hear the dollar amount.
I'd definitely want to set it up as some kind of company too to protect all of our personal stuff.
LOL. I was actually a little worried about the capitalist thing, but I think I'm okay if we do it as a group. It does promote the idea of community ownership a teeny bit more than if I was just one guy doing it. If both Martin and Geetha do it, we are all coworkers, so maybe Marx will grin a small one in his grave.
About the adjoining apts in my declining years? SPOOGE! ;)
Just remember to agree ahead of time how to deal with someone wanting out. I'd give it a lot of thought before abandoning the idea. Real estate is about the only semi-stable thing left, I think.
You're absolutely right. I think the most we can agree about, the better. How much to put aside for repairs, how much should we spend extra on the monthly principal so that when and if we want to sell the property, we can get a good return even if we sell for slightly over. How are we going to manage the books?
We were saying that too about its stability. It's probably not an absolutely for sure thing, but it certainly isn't a half baked get rich quick scheme like Amway.
I'm going to look into it for sure. It doesn't have the whole start over thing as the school idea and the zoo idea is completely rejecting everything and probably would risk my entire family disowning me. This might be a good compromise if we can actually pull it off.
What a great idea! Real estate is a great investment. Plus, the whole concept of the workers buying the building they work in is marvelously socialist. Best of luck!
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I need to look in it a little bit more to figure out how much money we are talking about and let Martin and Geetha know. Just to see if they balk as people tend to do when they hear the dollar amount.
I'd definitely want to set it up as some kind of company too to protect all of our personal stuff.
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It is an excellent idea, and sort of what I've been working toward in the past year.
But damn, does this mean we're turning into capitalists?
I do like the permanent link with Geetha. If need be you two could have adjoining apts in your declining years :D
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About the adjoining apts in my declining years? SPOOGE! ;)
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But you are correct. If done as a co-op it would be closer to some for of socialism I believe.
Perhaps neo-socialism?
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I'd give it a lot of thought before abandoning the idea. Real estate is about the only semi-stable thing left, I think.
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We were saying that too about its stability. It's probably not an absolutely for sure thing, but it certainly isn't a half baked get rich quick scheme like Amway.
I'm going to look into it for sure. It doesn't have the whole start over thing as the school idea and the zoo idea is completely rejecting everything and probably would risk my entire family disowning me. This might be a good compromise if we can actually pull it off.
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