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Updated over 5 years ago,
Buy a building for my business or invest in more RE?
I am the owner of a high end automotive business that specializes in customization and restoration, and also have been investing real estate for the last 5 years (MF and SF homes), currently sitting on 24 doors.
I am torn between using my capital to buy my own building for my automotive business (why pay rent, when I can own?) or use that capital to invest in more RE, continue building my passive income. As much as I love the idea of buying a commercial strip and lease out the rest, I need about 4-5000 sq ft of space, lots parking space and in a decent location with lots of traffic.
I love my business, but like all high end/luxury businesses, it can be finicky (I feel like I am always trying to chase the next "deal") and hoping my clients keep buying nice cars. I don't see myself doing this for the next 10 years or go hands off as much as possible.