Quote:
Originally Posted by mineistaken
major renovation for half a building cost after 2-3 years? Is that 1 in 100000 thing or US thing?
I work/deal in real estate development, mostly commercial and if you develop a building you enjoy steady 8-10%( on average) income from renting space.
meaning if you invest 10 mil you get 1 mill each year. Without needing any major renovations for the first 10-15 years.
This is 99.9% safe investment.
So lets say I am an athlete and I get 20 mil. I invest only 10% of that into a development and I enjoy 200K every year. After small renovations and taxes I still have 100K to live like a king.
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You have experience in real estate investing and have been successful apparently but i was talking about someone who has zero experience doing the same thing in my example. I'm not saying that would happen, i was using that as an example as what could happen to someone if they didn't know what they were doing.