acquiring many properties in the name of owning an asset

[Yaqs15]

It's a thing of choice though as some people just prefer owning some properties just for owning sake. They don't mind if their property aren't productive, they just continue to acquire the wealth regardless. Some on the other hand, own properties for future sake, like for their children to acquire them when they become old enough. But to me, it would still be better to get properties that would earn us some reasonable amount of income continually for a long term. You don't actually have to limit your property, you can continue acquiring if you have enough money to buy more.

It is very good for us to know the difference between quality and quantity. Even if you have to own a property or properties, it's better you go for the ones that are valuable assets and not the ones that are finished already. Because if you choose to go for these ones that are valuable, they are going to make you earn passive income which your money will be working for. you can be sleeping and be making money since their value keep on increasing . And you will have nothing to lose. But as for these ones that are finished already, their value will be depreciating which would lead to decrease in your income.

[Bright0515]

From the beginning you made a statement later you answered yourself and at last you asked a question again.
It is very wise to own multiple properties not because you have the money in excess but it is investment there is no investment that is ever enough because you have offspring coming after you, but like you've highlighted the most important thing their is to know about your investment. If you check around the society today many young ones on the street are there because there parents did not lay the ground for them.

I heard of a king who had alot of properties before he died he made sure he settled his children with all the properties and today the children are not carrying their papers around and if they do so for their children, properties from the foundation have paid off.

[Gozie51]

                     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?

There are different factors to this point that you are raising. It depends on the person's intellectual capacity to run those businesses or own those properties, the purpose and type of property or business. If you grow your business into LTD or PLS then you know that it would be handled by share holders to an extent and even if you are gone, the business or property will still be alive. However, regards to property, there is a part about the owner and the family. Some people don't disclose their property to their families and when they grow into dementia, they won't be able to remember all that they have. This is why writing of will is important depending on how rich you are, you might forget some properties when you don't disclose to family members.

[Su-asa]

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.
                      For sure we are meant to acquire assets that will stand out for us in the future especially a time when we will no longer have much experience, energy and strength to work again in order to earn a living so our assets gives us the liberty to enjoy the fruits of our labour when we get old and these asset also stands as aid to people around us more especially our offsprings or relatives who are very dear to us at a time when we answer the "call of nature" (death).
                     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?

There was a man I once heard about, the man bought bikes and tricycle bike more than 100 and was renting it out to people but it gets to a point when the people who are hiring it was stealing it. However it's good for a man who's acquiring properties as asset to try and acquire the ones that they can protect, because there are people that do the otherwise in other to make a living. Landed properties are easy to protect as long as the documents are intact. So a landed property is the best way to own an asset, think about buying a land for $20M and years after you sold it for $80M.

[Mauser]

                     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?

From a normal perspective it makes much more sense to earn productive assets than unproductive ones. When buying properties you can speculate on rising land prices to resell the property in a few years with a nice profit, but there can always be a crisis that could postpone our sale. Which is why we should be buying properties that can be rented out so we can generate income in the meantime. Comparing our best action to rich people is not really helpful, because they are already rich. Just look at the large number of summer homes rich people have. These homes are empty 80% of the year and don't generate any income. Renting out these homes for only 1-2 months would already cover all the bills and still people are not doing it. The super rich are even worse, they usually take all their belongings with them. So when they go to their summer home, they have to pay a moving company to move all the stuff around. Don't copy the rich, better do what is best in your personal situation.

[Kliss]

                     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?

It will be advisable or better to own few quality property over quantity or numerous property's that doesn't add value to our finances. Having so many unproductive properties can become liability because properties require maintenance to keep them in good shape, the cost of maintenance can be a huge burden. According to a philosopher "if the purpose of thing is not known abuse is inevitable". Without knowing the purpose of owning so many property's, can certainly lead to mismanagement of funds for example owning a rental property with the aim of generating income requires proper management and maintenance to ensure its purpose is served. Owning so many properties is not bad but understanding the need and purpose, so that it can  be managed and utilise effectively is very necessary.  When it come come acquiring of properties, what should be considered can it be productive and income generating to secure financial balance. It's better to own few assets ensuring good maintenance and managed properly in other to serve its purpose.

[boyptc]

I heard of a king who had alot of properties before he died he made sure he settled his children with all the properties and today the children are not carrying their papers around and if they do so for their children

That is the beauty of owning properties. Aside from the valuation appreciation, you can let your children inherit it. As a parent, we all want the best for our kids before we pass away.

Being irresponsible of not doing such will let your children face the consequences of it. Your legacy is what you give to your children so that they can live freely while learning all the grit of life and so as they grow, they will also achieve owning their first property.

[EarnOnVictor]

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.

Acquiring properties is good but it must be done sensibly as well. If it has come to the level of agents conspiring to deprive you of your properties, then you do not know what you are doing. All properties should be well-documented and periodically audited for maintenance and accountability with the involvement of your lawyer(s). This is not new to the rich men who earned their money through legal means or at least the means they can defend under any circumstances, unlike those who are buying properties through illegalities and proxies like shell corporation arrangements that are now popular among money launderers.

                     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?

Once it is being termed an asset, it is never worthless, it is valuable and will always sustain what it's being called. And yes, it is good to have your properties/assets, they will not betray you as a wealthy person (to keep the status) when you need them. This is especially true when all fails, they will not fail you. In reality, this is what many business gurus fall back on when other things fail them even as I watched a documentary of a wealthy Indian billionaire that went from tens of billions of dollars to $0 a few decades ago. He is still living fine today due to the assets he had bought when things were rosy. And of course, this is a very good way to indirectly Insure the future of your children and loved ones.

For this, you can never go wrong with the asset purchase, but just be accountable for them and not just buy and forget them.

[Awwal08]

Some riches own many properties to make them popular, they doesn’t care if it is productive or not, owning some properties is good because if you own a company, factory, or industries and you employed people it will reduced the rate of unemployment, but it is not advisable for someone to acquired many properties that he won’t be able to focus on, owning many properties Is now like a competition to some riches, they always want to be richer than each other

Indeed it is substantial to acquire asset for the sake of our future, you don’t have to invest in many things to showoff, even just a property can stand as an asset if you make it productive, for example if you own a private health care and you put all your attention on it, it will develop stronger and become standard, when a time come that you don’t have power to work anymore the health care will be supportive and beneficiary to you

[DiMarxist]

I don't agree with you about Aliko Dangote because regardless of the fact that he's rich, we all know he's a business man and almost all his assets are productive and that is the reason why he has ventured and diversified into doing a lot of things just to maintain his status and the money keeps coming from different angles so his own is okay as a wealthy man he is, unlike people that just build houses and own some properties scattered everywhere when those properties are unproductive.

 
You don't have to agree with me on anything concerning Dangote and his wicked life. Many business you see today that dangote is doing, he collected them from other business men by force. Let me give two good examples. First, Cement: Cement was first produce by another person and it was called "Elephant Cement" and as of then Cement was sold as the rate #500 and your so called favorite dangote asked the FG to stopped the person so he can produce it which the then President did OBJ, and today a bag of cement is #10,000. And Indomie noodles were manufactured by another person but your dangote also asked the FG, to stopped the person and he us producing Indomie noodles and a packet is 300 which was 50 to 70 Naira.
And now that has taken over the petroleum industry. Fuel price will increase to 1800 Naira. Are you also aware that Dangote is one of the Members in the Nigeria Economic Team? When someone has too much property it intoxicate the person. Yesterday Newspaper said, Dangote refineries are not to reduce fuel price but to make it abundance yet we have not seen anything. And On the 30th of last month, Dangote was crying that FG gave license to other marketers to sell dirty fuel. Now Dangote is selling clean fuel and the fuel we were buying from American now is dirty.

[Promocodeudo]

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.
                      For sure we are meant to acquire assets that will stand out for us in the future especially a time when we will no longer have much experience, energy and strength to work again in order to earn a living so our assets gives us the liberty to enjoy the fruits of our labour when we get old and these asset also stands as aid to people around us more especially our offsprings or relatives who are very dear to us at a time when we answer the "call of nature" (death).
                     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?

Op, this is a very interesting topic, I must commend your effort in bring this piece of writing here, for me, believe acquiring asset should be done not only for future benefit they can settle immediate needs waiting for the future to come, many wealthy people fall this victim of acquiring properties that are not meaningful and thats because of greed or may be because the owner was into problem that made him or her decide to sell at a cheaper price, i suport that buying what you cant sustain is not economically or business wise, i believe that once an individual decides to acquire assets, it is for business purposes not for show up.
Most times corrupt politicians buy this properties or assets with embezzled and stolen funds thats why they are always in haste to acquire property anytime even though it may be abandoned or forgotten by them, they want to make sure that the money is not in their possession to avoid trace.
I think an individual who is business minded that earned his money legitimately, will want to acquire assets or property that he or she can be able to remember or sustain, a wealthy business minded person believes that it doesn't matter how many asset you have, what really matter is your ability to remain relevant in business for future benefits.

[Mr.sprin]

Some riches own many properties to make them popular, they doesn’t care if it is productive or not, owning some properties is good because if you own a company, factory, or industries and you employed people it will reduced the rate of unemployment, but it is not advisable for someone to acquired many properties that he won’t be able to focus on, owning many properties Is now like a competition to some riches, they always want to be richer than each other

Indeed it is substantial to acquire asset for the sake of our future, you don’t have to invest in many things to showoff, even just a property can stand as an asset if you make it productive, for example if you own a private health care and you put all your attention on it, it will develop stronger and become standard, when a time come that you don’t have power to work anymore the health care will be supportive and beneficiary to you

Having lots of assets is very important for us because our life is not always beautiful, by being able to develop our business and by being able to save with some assets that is a very good achievement, with assets we have more or less saved ourselves from the economic crisis in the future. the upcoming one.

Assets in the form of property can become movable assets for us, that way we can be calmer in our old age. By focusing on movable assets, we can enjoy them. We have to think carefully about property assets, because there are many parties involved, in terms of workers and managers, whether good or bad depends on how we manage it, the assets we can get a lot don't have to be property, we can also get other things to increase our own assets.

[Cryptoprincess101]

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.
                      For sure we are meant to acquire assets that will stand out for us in the future especially a time when we will no longer have much experience, energy and strength to work again in order to earn a living so our assets gives us the liberty to enjoy the fruits of our labour when we get old and these asset also stands as aid to people around us more especially our offsprings or relatives who are very dear to us at a time when we answer the "call of nature" (death).
                     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?

There was a man I once heard about, the man bought bikes and tricycle bike more than 100 and was renting it out to people but it gets to a point when the people who are hiring it was stealing it. However it's good for a man who's acquiring properties as asset to try and acquire the ones that they can protect, because there are people that do the otherwise in other to make a living. Landed properties are easy to protect as long as the documents are intact. So a landed property is the best way to own an asset, think about buying a land for $20M and years after you sold it for $80M.

Owning too many properties leads to loss of some of the properties because it's not all that you can be able to manage by yourself so it will surely lead to entrusting it in the hands of other people who you feel you trust and in the end they can undue and betray you and made away with those properties without a trace and since they have the documents in their possession that means the case may just die off.
Owning landed properties is a very good asset if you buy with the intention of reselling in the future instead of buying a landed property and erecting a structure that will be abandoned after completion. Apart from acquiring too many properties investing on human capacity development is also a very good way to make investments because those people will be made through you and the circle continues because some other people will also benefit from them as well.

[Samlucky O]

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?

Yes it is advisable to own alot of assets or diversify into different denomination provided those asset are productive or can be sold to get back something in return. Any money invested in property is liable to have something in return. though it may be that some properties may not be a productive asset like bitcoin investment or any other form of investment, but just a property to sell when there is challenges or when the need arises. there is alot of people who had properties, when they had challenges above there capital, they sold their property. what am trying to say is that we should have property everywhere sothat when we are of age, or don't have  fund, we may sell those property to recover some funds to settle pressing need.

[Agbamoni]

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 response is it is wrong to acquire properties that are a liability and not an asset. Before acquiring things in life, we should always know the difference between an asset or a liability. From the story you highlighted, owning landed properties is quite a good asset just that people forget what they own sometimes I ask myself how that is even possible. But it happens. There was a compound I know about it was said that the owner had forgotten about the compound and now the tenants are living in that apartment for years without paying any rent year to year Because the owners has forgotten about them.

The thing is there is a level of wealth one would have you won't be able to manage all your properties. In my own opinion, I would say instead of acquiring those properties we should use the money to invest because that is what we yield good money for us over the years.