Yacht captains shared these thoughts and words of advice about owning real estate in yachting.
Go ahead do so as soon as possible as it pays dividends later in life.
It is an excellent investment but not all places in the world are good investments and not all properties are good investments. Purchase wisely and do your homework.
Don’t overdo it.
If you plan on staying in yachting, invest your money in a place to get away from the yacht and also be able to rent it out.
A big step for a younger person; could well be the best investment in one’s life, though.
Get a good credit rating. Find an area you like. Buy and rent it out if you can’t live there. Do not overextend. Buy the worst house in the best neighborhood and put in sweat equity.
Purchase in area(s) you wish to live, at least initially. That way, if you move off of yachts to manage properties, or just live in one, you’re where you want to be.
Buy a house asap.
Yacht people do not have too much time to keep an eye on the stock market but land and property can take care of itself with an absentee landlord, most of the time.
Can be a good investment, but you have to buy right and watch the market. Don’t buy any investment property that doesn’t pencil out to positive cash flow from the beginning, according to the way you have to buy it. If it’s not positive, run away.
Property comes with headaches and, at best, may not be much better than a break-even situation in the long run if taxes, running costs, interest and depreciation are all taken into account.
As always, diversify investments. Don’t just buy real estate
It will probably always appreciate in the long run, so I recommend it for everyone.
Buy within your true means and fairly valued property. If either are wrong today, they will be wrong next year also.
Real estate runs in a 15-year cycle. The trick is to see it and get out when it’s good.
Commercial is a better investment if tenanted, residential has a better chance of long-term tenants. Buy easy, low-maintenance properties in family, middle-class areas. Get good advice from market valuers regarding the areas and their market and from lawyers before signing the dotted line. It’s worth the investment.
Now looks like a good time to buy. Save your money until you are ready.
Don’t buy over your income limits.
Be careful and make sure it is in a country you intend to live in.
Work on any boat long term. Save your money. Buy a place of your own. Stay out of the bars.
Buy duplex. Live in one side, rent the other.
Buy high quality and you won’t regret it. A big house to rent with a small cottage in the back for you is great.
Buy sensibly and early, using a decent deposit from savings.
Buy for a place to live or to rent out. Don’t count on prices going a lot higher.
Save 80 percent of your income and always have a huge cushion of cash savings, whether you buy real estate or not.
Learn about the Case-Shiller Index and protect yourself from loss of income or another tanking market.
There is only so much dirt in the world; buy as much as you can.
Don’t keep spending all your hard-earned cash in the bar.
As soon as you can get a deposit, buy land. They are not making any more if it. If you want to make money on it, leave emotion out of it.
Look for capital gains because there is no money in rentals. It may be different if your rentals were close by.
Buy now. This is the time.
Buy only what you can pay cash for or consider it a liability.
Save your money instead of partying all the time. Live on the boat with 10 percent and invest the rest in real estate.
Keep your credit clean and have all the documentation of your earnings at your fingertips as loans are hard to come by if you do not have proof of income. Stated income isn’t a means for a loan anymore.
Only as a place to live. Young people should be in the stock market.
There are better investments than real estate to make extra money but if you are like me, I always wanted a home on land, just in case.
Buy at least two bedrooms and no second floor unless it is a loft. Then make sure it has its own entrance.
Buy now when interest rates are at an all-time low.
Save and then buy a place that is nice enough to be rented out. Live there or just rent it out.