acquiring many properties in the name of owning an asset

[Dr.Bitcoin_Strange]

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?

I think there's this notion that "humans are never satisfied with accumulating more wealth and becoming wealthier." Rich people want to become richer rather than poor and have their net worth reduced. So, in order to improve, they definitely will continue to accumulate more assets, and they definitely will keep track of and keep records of all their assets. 

Just as you have said, some rich people accumulate assets until they even forget about some of the assets they have. Well, it happens, but not with tycoons or international entrepreneurs. The people who are in this category of becoming so wealthy that they will even forget about some of their assets are some greedy politicians who steal from the government. Some of them will receive a huge disbursement from the government that they are to use for a project, but they might not do the project or they might start the project and not finish it, and then they will convert the money to their personal funds. Some other rich people that fall into the category you are describing are those involved in illegal activities that generate millions to billions of dollars on a regular basis. 

Those kinds of rich people may not want the government to put their eye on them, so they would use that stolen and illegal money to acquire lots of properties, and some of those properties may not really be in their name. 

To answer your question, which I highlighted, rich people or any individual that is aspiring to be rich will always invest his or her money into an asset that they believe and expect to get profit from in the future. It doesn't matter the number of assets they invest in, but believe me, every rich man who is making his money legitimately will always keep track of all his assets. He doesn't even want to lose anyone.

[justdimin]

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.

A very important life lesson I learned in the past 2-3 years is that if you do have assets that make you money, then you could be retiring without need of anything else. A person I love is having some health issues, I don't want to get into detail, but she has money and assets, so most of the stuff is covered by her medically. I do help around as much as I can, which is why I believe that we are going to end up with a result that would not be all that bad, we should just consider how it would go without any issues if she didn't had assets, it would had so much assets in the end.

I personally believe that we are going to end up with a lot of assets in our life if we really think about our future. I want to have a lot of them before I get old and sick, so that I wouldn't be a burden for anyone at all.

[Bloodseekers]

A very important life lesson I learned in the past 2-3 years is that if you do have assets that make you money, then you could be retiring without need of anything else. A person I love is having some health issues, I don't want to get into detail, but she has money and assets, so most of the stuff is covered by her medically. I do help around as much as I can, which is why I believe that we are going to end up with a result that would not be all that bad, we should just consider how it would go without any issues if she didn't had assets, it would had so much assets in the end.

I personally believe that we are going to end up with a lot of assets in our life if we really think about our future. I want to have a lot of them before I get old and sick, so that I wouldn't be a burden for anyone at all.

If we already have assets that can provide us with sufficient income to be able to meet our daily needs, of course this will mean we don't have to do tiring work anymore and if we still want to increase the wealth we already have, there's certainly nothing wrong with that. also choosing to enjoy the results that we have obtained from these assets is also not a problem for anyone because what we have achieved means we have the right to enjoy it and from the story you said, of course it would be very good for us to be able to have assets that can provide income for ourselves because if we are sick at an old age and cannot have assets, of course this will be very difficult for the people closest to us, this is truly something that no one wants.

[mirakal]

                     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?

Never say it wrong as it is an absolutely right decision made especially when you feel no confidence in saving your money in the bank. We can't say it is not productive because once it is an asset, the value will grow from time to time. Buying land, joining real estate investment, etc., we can't feel the instant profit from them but after a few years, it is certain that we are multiplying our money. Perhaps, that is what we call investment, we harvest results after several years pass, and if we have multiple sources of income, we don't mind if these properties or assets will give us a small ROI. This is how rich people make millions and in their mind is to make more money. Normal people sometimes think that they are greedy but for me, they don't want to lose opportunities that is why even they already have a lot, they still acquiring more.

[Kelward]

I can relate with what the OP is saying, there are people who keeps acquiring so many properties that they cannot oversee. There is a popular hotelier in my country, he keeps building new hotels in every nook and cranny of some selected states, I heard that he has nearly 200 hotels in these states and he's still building more. I often wonder how this man can be able to oversee the affairs of his hotels because some of the hotels are poorly managed, he probably concentrates more on the newer ones. It would have been better if he had a few five star hotels than clearly over 100 two star hotels that most are not up to regular standard.

[stomachgrowls]

                     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?

Never say it wrong as it is an absolutely right decision made especially when you feel no confidence in saving your money in the bank. We can't say it is not productive because once it is an asset, the value will grow from time to time. Buying land, joining real estate investment, etc., we can't feel the instant profit from them but after a few years, it is certain that we are multiplying our money. Perhaps, that is what we call investment, we harvest results after several years pass, and if we have multiple sources of income, we don't mind if these properties or assets will give us a small ROI. This is how rich people make millions and in their mind is to make more money. Normal people sometimes think that they are greedy but for me, they don't want to lose opportunities that is why even they already have a lot, they still acquiring more.

One of the advantage on buying up some asset specially on real estate or simply having tons of buildings specially if its located on strategic locations then its value would really be that appreciating and on the years
passing by then you wont really be that able to notice it out that those investment that you had put on those early years did make out that significant increase of its value or simply making profits.
Basing up on the situation been stated on OP on which you have forgotten some of those properties then well its something that might be that possible but we do know that as a businessman
who do get used to on how to run up a business then having those skipped investment would really be that unlikely.

This is why we do really work hard our asses off just to have something that our family would be able to obtain or get on the moment that you do pass away.
This is something our primary target when it comes to this space.

[slapper]

These properties may be more than trophies or spreadsheet numbers. They can be revived and utilised to benefit the community.  Why not repurpose these buildings into affordable housing, community centres, or urban farms instead of letting them rot? Why not make these properties serve people? Im not against diversification. Its smart to invest broadly. If you buy properties randomly without a plan, you'll wind up with a lemon portfolio. Be strategic, man. You must consider how these properties can generate money, adapt to changing markets, and serve a purpose. Instead of vacant buildings, you may own flourishing enterprises, sustainable communities, and meaningful assets. Not just making money, but creating an effect.

[Cryptoprincess101]

OP, I will like you to give me an example of such properties that are not income generating properties. Because if you are talking about having many houses, it is not a waste of money since someday the house can be sold in a very high price. I don't think that any rich man will want to get a property that does not increase in value as time passes by. Another thing that I observe is that some of these rich people buying properties that is not useful to them is because the money was stolen from somewhere and buying these properties is a way to hide the money without anyone knowing about such funds. People in the government and public offices are the ones doing this.

What I mean is about acquiring so many assets such that they may not recollect some of their properties due to how many the have become and some of those properties are left in bad conditions and untaken care of or lack of quality maintenance that will make them to be valuable in the future and they always put more effort and interest in the ones that generates larger income for them leaving behind the remaining ones to be in bad state and it's not only politicians that practices such, others even business men do emulate this habit of owning so many properties just because they have the money without caring if they are productive or not. I have seen a man from my state that own a lot of houses but not was leased or rented to generate income, all he did was to employ people who were maintaining the houses and the environments so this is the kind of people am talking about because if you must have a lot of properties then they have to bring proceeds for you instead of becoming unproductive.

[dezoel]

After reading your post, one thing has come to my mind, the more jaggery you add, the sweeter it will be, but one more thing to note is that it is better to keep few useful things in the house than to fill the house with useless things because useless things go to waste and useful things are rare. Therefore, my opinion is that by building a lot of properties, there are properties that you do not even know where your property is.

So, it is better to keep as much as you can in your eyes and save as much as you can build the same amount of property and work hard for it and as you mentioned, relatives are missed a lot at the time of death or in old age, so you should take the people around you and your special relatives too. If the almighty has given you money and you have the opportunity, instead of accumulating unnecessary properties, make your relatives and close ones happy.

[Zoomic]

My question is that is it advisable to own 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?

Many do not know the differences between assets and liabilities, that is why they end up purchasing items which they claim are assets to them but end up becoming a liability to them in the future. I personally do not see any item that generates no economic value and adds nothing to the owner's net worth as an asset. If a person decides to spend his money on items he will have to spend alot to maintain or pay a fortune on items that will depreciate in value in the nearest future without adding any value to the owner, that is entirely the owner's choice but it is not an adviceable way of planning for the future.

Rather than acquire lots of properties that will depreciate in no distant time, it is better to invest in any legal project that will generate lots of returns in the future.

[Silberman]

My question is that is it advisable to own 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?

Many do not know the differences between assets and liabilities, that is why they end up purchasing items which they claim are assets to them but end up becoming a liability to them in the future. I personally do not see any item that generates no economic value and adds nothing to the owner's net worth as an asset. If a person decides to spend his money on items he will have to spend alot to maintain or pay a fortune on items that will depreciate in value in the nearest future without adding any value to the owner, that is entirely the owner's choice but it is not an adviceable way of planning for the future.

Rather than acquire lots of properties that will depreciate in no distant time, it is better to invest in any legal project that will generate lots of returns in the future.

Real estate is not a bad investment, it is just that it is one that often moves very slowly unless there is a bubble, so in that case it would be better to try to acquire assets that generate a positive cash flow or to get assets that can appreciate faster than real estate, for example bitcoin, so if I had the money at my disposal I would disregard real estate, as real estate has an additional problem and that is that in the case of an emergency you cannot take the land with you, which ties you to a place for as long as you hold that property.

[Fortify]

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?

You have framed the question to be counter intuitive, so nobody is going to give you a reasonable argument because you have not put forward a good example. Most investors in properties are not going out and seeking "unproductive" properties to own - it has to pay for itself otherwise nobody would buy it and it would fall in price until it became "productive". People can sometimes make the wrong judgement when buying a property, but they generally learn from those mistakes and stop buying poorly priced properties. Only the rare few investors who stumble into a lot of money that they did not earn are likely to buy these poorly performing properties that you suggest and not many of those wealthy fools stay rich for long.

[eightdots]

My question is that is it advisable to own 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?

Many do not know the differences between assets and liabilities, that is why they end up purchasing items which they claim are assets to them but end up becoming a liability to them in the future. I personally do not see any item that generates no economic value and adds nothing to the owner's net worth as an asset. If a person decides to spend his money on items he will have to spend alot to maintain or pay a fortune on items that will depreciate in value in the nearest future without adding any value to the owner, that is entirely the owner's choice but it is not an adviceable way of planning for the future.

Rather than acquire lots of properties that will depreciate in no distant time, it is better to invest in any legal project that will generate lots of returns in the future.

Real estate is not a bad investment, it is just that it is one that often moves very slowly unless there is a bubble, so in that case it would be better to try to acquire assets that generate a positive cash flow or to get assets that can appreciate faster than real estate, for example bitcoin, so if I had the money at my disposal I would disregard real estate, as real estate has an additional problem and that is that in the case of an emergency you cannot take the land with you, which ties you to a place for as long as you hold that property.

In the country where I live, real estate and land prices have skyrocketed and people who want to sell cannot find buyers. There are some who have started to lower prices, but the price is still too high and the sale is not happening. When the prices of such investment instruments suddenly rise too high, even if they seem profitable at first, they turn into bubbles in which you tie up your capital. Assets that you want to sell but cannot sell within a certain period of time are either too inflated or their real value is not what you expected.

One of the most important issues to be considered when investing, not being able to sell when the price is too inflated can put the investor in a difficult situation. Although real estate and land prices are decreasing day by day, these investments are no longer seen as the right investment choice because there are no buyers, especially in countries where credit is not available.

[Findingnemo]

After reading your post, one thing has come to my mind, the more jaggery you add, the sweeter it will be, but one more thing to note is that it is better to keep few useful things in the house than to fill the house with useless things because useless things go to waste and useful things are rare. Therefore, my opinion is that by building a lot of properties, there are properties that you do not even know where your property is.

So, it is better to keep as much as you can in your eyes and save as much as you can build the same amount of property and work hard for it and as you mentioned, relatives are missed a lot at the time of death or in old age, so you should take the people around you and your special relatives too. If the almighty has given you money and you have the opportunity, instead of accumulating unnecessary properties, make your relatives and close ones happy.

When someone is rich enough that he can't keep track of how much property he owns then these productive or whatever shit never applies because he managed to make such amount of money so I am sure he figured it out how to maintain them as well. There are other way someone can own property from their inheritance but if they lack managing skills then sooner or later they are going to sell everything. What really matters is asset that has value to it.

[Cryptoprincess101]

In the country where I live, real estate and land prices have skyrocketed and people who want to sell cannot find buyers. There are some who have started to lower prices, but the price is still too high and the sale is not happening. When the prices of such investment instruments suddenly rise too high, even if they seem profitable at first, they turn into bubbles in which you tie up your capital. Assets that you want to sell but cannot sell within a certain period of time are either too inflated or their real value is not what you expected.

One of the most important issues to be considered when investing, not being able to sell when the price is too inflated can put the investor in a difficult situation. Although real estate and land prices are decreasing day by day, these investments are no longer seen as the right investment choice because there are no buyers, especially in countries where credit is not available.

That is the reason why considering the location of a real estate business is important because the challenges faced by real estate owners is location since people are more interested to acquire property in developed areas so it will be difficult for someone who owns a real estate in an undeveloped area to sell those assets when the need comes but places that are developed are the targets of most big investors without minding the high price because there are people that are looking for how to own property in a developed area but finds it difficult because people that owns properties in those areas are not ready to sell due to the high profits those properties generates for them. Even if real estate price skyrockets, so far as it is in a good and industrious area, selling such a property will not be a problem.
Just do your real estate business in a commercial area where businesses are growing rapidly and you will even see so many people coming to ask if you are interested in selling your property even without caring the amount you wish to sell it.

[Don Pedro Dinero]

I see that the OP is from Nijeria. When I saw the story he tells, I wondered where it happens because where I live it is not at all common. Rich people may have some unproductive properties but for personal use, and if they have more properties they make sure they produce for them via rents or if they have land with crops. If you see a rich person's property that they don't use and don't get a return atm it's probably because they are speculating on the price going up and gaining from capital gains.

Just do your real estate business in a commercial area where businesses are growing rapidly and you will even see so many people coming to ask if you are interested in selling your property even without caring the amount you wish to sell it.

The problem is that this is easier said than done. If the area is growing fast, probably the expectation that the premises will be good for business is factored in the price. I have also known areas that were growing fast and stopped growing and were practically abandoned because of an economic crisis. In the end, in investment and business there is a risk factor that we cannot foresee.

[Kemarit]

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.         

Well that's not smart for those who acquired many properties that is not productive. I know a person and she was close to me, but the thing is that she already had a business and she was struggling to keep it afloat. However, she make a loan, and then buy another business in which I advise her not to because it's just going to be a big problem for her. She didn't believed me, and so she was like competing with his husband who had a business of his own. They are strange and complicated relationship and so I'm thinking that maybe she wants to proved something.

But after a couple of months, here new business didn't prosper and so she has to sell it again. So probably this is a great example of why we shouldn't acquire properties, we should be very careful so that we won't go to this example and just be smart in making decisions in our life and think about the consequences of it.

[lizarder]

                      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).

To prepare for life in old age, we must look at prominent assets that can provide benefits to us even though we are no longer working. Houses and shophouses can be rented out so that we can enjoy the rental income in old age, in the area where I live, both prospects are very promising because people's needs for both continue to increase. After death, these assets can also be transferred to children so that they can still enjoy the results.

                     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?

If the question is like that then it is definitely better to have a few assets and be able to ensure regular income. But if you have more money that has many assets it will be much better even though the benefits can be obtained in the future. Parents also prepare the necessities of life for their children and less productive assets can be given to children so that in their time the assets can have a much greater value.

[shinratensei_]

the thing is, rich people don't really care about what they are investing sometime, not to mention property has tendency of always increase in value, whether it's just gonna get abandoned or not the rich people couldn't really care, probably their purpose of buying property regularly is just to retain the value of their money and diversification.
the average person like us won't understand much about this because we don't posses too much money, every attempt acquiring property is a milestone for us but for these rich people its just another tuesday.
mainly because they already have the mean to earn money where it might generate them millions in a month anyway.

regarding your question, I think both could work as long as you have money, productive or unproductive property, doesn't matter as long as it grows your wealth.

[uswa56]

That is the reason why considering the location of a real estate business is important because the challenges faced by real estate owners is location since people are more interested to acquire property in developed areas so it will be difficult for someone who owns a real estate in an undeveloped area to sell those assets when the need comes but places that are developed are the targets of most big investors without minding the high price because there are people that are looking for how to own property in a developed area but finds it difficult because people that owns properties in those areas are not ready to sell due to the high profits those properties generates for them. Even if real estate price skyrockets, so far as it is in a good and industrious area, selling such a property will not be a problem.
Just do your real estate business in a commercial area where businesses are growing rapidly and you will even see so many people coming to ask if you are interested in selling your property even without caring the amount you wish to sell it.

Choosing a real estate business location is of course very important because if we choose a location that is not yet developed, of course this requires a long process of waiting so that the business we run can generate profits, but when we choose a location that has developed, of course this will be possible. easily generate profits from the business they run because most consumers certainly want the property they own to be in a developed location so they have easy access to get to the place they want and those who choose property in a developed location must of course be able to have a lot of funds to be able to own it, because property prices in that location are of course very high.