When we discuss succession planning, I keep sharing real life examples and a few other things on property (real estate) succession…..the serious issues which come along with it
Some might think it’s a skewed way of looking at things
Some might think I detest real estate as an asset
Some might think, I’m overthinking 😀
But trust me………in my entire career, I’ve come across conflicts arising in families just because of this one asset called real estate
Succession is stuck because of this one asset called real estate
Like it or not…… I continue to see people investing much more than what is required in their portfolios on this real estate asset
Have it but only as much as to have🙏🏻
Financial assets (fixed income or equities) are surely the easier ones to handle, generate consistent income, less on recurring maintenance costs, transparent valuation, ease of liquidity, partial selling, succession of these assets etc….
And…..No Surprises seen ever on these (generally)….what value we see is what value we get on selling
Yet…..people tend to load more on real estate
Not with a purpose but sometimes just for the fancies of it
Succession in real estate – is not easy – pls understand this simple yet profound real truth
What you see on the outside isn’t what you actually go through on the inside of real estate as an asset class