Some of you may remember the famous song with a catchy tune by the Barenaked Ladies back in 1991 If I had a Million Dollars … Over the Christmas holiday, I asked my two sons, ages 17 and 25, what would they do with a million dollar if they had it. I was hoping they would choose to invest in real estate (they are sons of a Commercial Realtor AFTER ALL!!!). Both of them chose something else. How my hypothetical young millionaires chose to use their hypothetical money is another story and I will tell you in my next articles. I will, however, ask you the same question: What would you do with a million dollars?
Would you share it with other friends and family? Would you go on a long extravagant holiday, buy a car, pay off the mortgage? Would you leave it in the Bank and collect interest? Would you invest it in the stock market? Would you give it to an investment specialist to invest it for you? Would you start or buy a business? Would you buy a piece of commercial property and lease it out? What would you do with it? Every option has its own pros and cons. My advice: Do not throw it all away in the first few months. Be smart with your money and love every dollar equally.
I guess the second question is: How would you maximize the benefit of this Million dollars?
It is important that you explore the options of all of the above (Yes, you can still go for your extravagant holiday). Being knowledgeable is the key to what can stretch or maximize your benefits. If you decided to explore the Commercial Real Estate side as one of the options instead of blowing it all away in the first couple of months, I would then ask you to give me a call or an email. Let’s chat. Perhaps I can help!
And my last question is… What if it was only half a million? Or $100,000 or simply equity? How would you build a portfolio in Commercial Real Estate?
Sutton Group – West Coast Realty
“Investments… that make sense.”
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