acquiring many properties in the name of owning an asset

[kryptqnick]

If someone is very wealthy, they can afford to make risky investments and experiment. Yes, perhaps most of those assets will eventually fail, but there might also be one that performs so well that it's all worth it. Another aspect is, of course, diversification. No matter how reliable and stable a market or an asset seems, there is always a risk that some sort of event can cause it to crash. It is important to not put all eggs in one basket, so to speak.
I don't think it's a good idea to own too much property (if we're talking about real estate, cars, and stuff like that). Firstly, their liquidity isn't great. Secondly, it is bad for the environment. Thirdly, it seems unethical to obtain and own so many resources that others could truly benefit from. After all, we have one planet for everyone, and one person doesn't need 20 flats or cars.

[Taskford]

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.

[legendbtc]

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.

This will be a big risk for those who are not too wealthy, but will be a negligible risk and worth a try for those with too much money, and here we are talking about people who are able to own a lot of real estate, they are super rich people. And I think it seems inappropriate for us to judge or give advice to rich people about how to spend their money. They are businessmen, they probably own a lot of real estate, which means they are not stupid to not know what they are doing with their money. Furthermore, in business, the failure of 1 or 2 projects is not a big problem because as long as they succeed with the remaining projects, they will regain what they lost before and even earn more profitable.

[naira]

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.

There is another perception that rich people are targeted when they own building properties but instead leave them dilapidated and destroyed. They don't care about that because what they are targeting is investment with land ownership. If you know that as time goes by, it has a high price to sell. Moreover, the geographical location of the land is very ideal, accessible and reachable. I have often heard this talk from people who deliberately bought and let the building collapse because they were thinking about long-term investment. Not looking for short profits, just using the building.

[shield132]

                     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?

That's a very hard question to answer because that approach is very individual and exclusive. I prefer to mix both. I would invest some part of my money into unproductive assets that I think will become very productive soon. For example, imagine that there is an abandoned place and the city is expanding. You'll be able to buy the land on this abandoned place very cheaply and it won't bring profit for a long time but as the city grows, this abandoned place soon becomes surrounded by people and very soon becomes a part of the city. Then who knows, this place might become a very prestigious area. This type of investment can bring you tons of profit after 10 years, 20 years, 30 years.

[CryptopreneurBrainboss]

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

I don't know what goes through the mind of wealthy people for them to do what they do but I'll never know until I'm wealthy too one day and see what they see. From assumptions I'll say they're just flexing their wealth and showing off to their counterpart who is wealthy, just as we showoff between ourselves so do the wealthy too. I heard there are clubs only people that own yatch can attend and this will motivate any wealthy person that wants to attend to party or join the club to buy a yatch and same thing might be for a private jet or island club. Some of them are just trying to avoiding losing their money so they put it in landed property that they can always sell later for money. Others might just be wasteful spending as they didn't plan for their money or they just have too much to hold.

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 advice would be to go with fewer assets and not liability, there are properties that we'll own and they become a liability to us. Anything that takes money from us are liability and if a property keep taking money through maintenance other charges then they're a liability but if we own few properties and they're very productive then we're good. Personally I have always believed in productivity over quantity.