Property / Real Estate As An Investment

[Laner]

Not sure where you live but the countryside where I live is mostly comprised of farmettes and multi-million dollar homesteads, that’s where the wealthy go to live to escape the city not retirees trying to be frugal unless they can find an old small home built 50+ years ago where a boomer or silent gen recently passed and no one in family to inherit the property. Taxes are very high to live rural as most of the $1M homestead neighbors property value will jack up your real estate taxes even if you by a modest older fixer upper home on an acre or so of land. And property repairs and maintenance are very expensive. Also for retirees, there is a lot of time involved to maintain a rural home and yard, and physically demanding that not a lot of retirees can continue to do for the long term.

Yeah good point. I am just going by personal experience through family members. The ones that can do the physical work take to the countryside. Those that can't seem to choose a retirement village.

Both seem good options.

I hope my health sticks with me as I know some old fellas who do a decent little craft business where they can get their stuff into those wealthy homes. I like the idea of that. Grandkids, gardening and working away in the workshop.

 

[magoo]

It seems some small real estate agencies

https://www.costar.com/article/642008108/one-of-st-louis-tallest-office-towers-empty-for-years-sells-for-less-than-2-of-its-peak-price

One of St. Louis’ Tallest Office Towers, Empty for Years, Sells for Less Than 2% of Its Peak Price​

Another one. It seems it’s becoming a trend.

Burnett Plaza, the tallest building in Fort Worth, has been sold at foreclosure auction for $12.3 million

Burnett Plaza, the tallest building in Fort Worth, has been sold at foreclosure auction for $12.3 million. The previous owner, an affiliate of Opal Holdings based in New York, failed to repay a $13 million loan from Pinnacle, leading to foreclosure proceedings. In 2021, the Opal affiliate...

unusualwhales.com

Burnett Plaza, the tallest building in Fort Worth, has been sold at foreclosure auction for $12.3 million
09/05/2024

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Burnett Plaza, the tallest building in Fort Worth, has been sold at foreclosure auction for $12.3 million.

“The previous owner, an affiliate of Opal Holdings based in New York, failed to repay a $13 million loan from Pinnacle, leading to foreclosure proceedings. In 2021, the Opal affiliate acquired the 1 million-square-foot Burnett Plaza at 801 Cherry Street for $137.5 million.”