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How Successful Do You Need to Be to Own a Skyscraper?

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How Successful Do You Need to Be to Own a Skyscraper?
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When we talk about success in our careers, we usually need some kind of indication to help us track how successful we actually are. For instance, does your income indicate that you’re successful, or does owning several business branches mean that you’re doing well? For those that don’t know much about how businesses work or how wealth should be invested, they’ll usually say that having a large bank balance is an indication of success. This article from Chron.com actually goes in-depth about what could be considered business success. There are many personal, financial and even social factors that can change the meaning of success for an individual, so it can be considered a personal achievement.

However, the most common way determining your level of success is by looking at the assets you have accumulated. For instance, a successful business person will likely have a large investment portfolio full of interesting properties and companies. They will likely be a majority shareholder in several companies and they may even own many different properties.

One type of property that is commonly seen as a sign of success is the iconic skyscraper. These large buildings tower above everything else and reach the skies. They typically cost anywhere from $500 million USD to $1.5 billion USD and are very rarely bought out from a single payment. As seen in this article from BisNow.com, many skyscrapers are actually co-owned by several organizations or even people that have a mutual interest in its ownership. Simply owning one (or even being part of a union, syndicate or business group that owns one) is a symbol of success that cannot be taken for granted.

In this article, we’ll be looking at what it means to own a skyscraper and how successful you need to be in order to have your very own one.

How does one own a skyscraper?

One word: money.

Money is obviously required to own a skyscraper but people rarely have enough money to outright purchase a skyscraper with the money from their bank account or pocket. That’s why many skyscrapers in the world are owned by overseas investors, groups or even several businesses.

Skyscrapers offer a huge amount of space for everyone inside. They’re rarely ever given a single purpose because there aren’t many companies that could use up that much space. Instead, skyscrapers are often used as commercial spaces, for office space or even residential apartments. You can find out more about what skyscrapers are used for at this thread from Quora.com that goes into detail about several uses for skyscrapers.

Of course, you could also build a skyscraper from scratch. This is usually reserved for the ultra-wealthy and you can’t build one just because you can. Skyscrapers need to be built for a purpose because there is a lot of planning, design, time and money involved. You may need to hire services like HelitechCCD.com in order to get the right structural foundation to keep your skyscraper standing and it will take several months or even years to build it. If you’re serious about building your own skyscraper then it’s probably because you’re investing your money into real estate. If you have the credentials and funds to do so, then it means you’ve had a lot of success in the past in your real estate career.

So to conclude this section, owning a skyscraper typically means that you have a use for it. If you don’t have a use beyond “making money” from it, then you can consider it a real estate investment to be rented out to prospective tenants.

The level of success needed to own a skyscraper

It takes a lot of determination in order to own a skyscraper. If even your purpose for owning one is something simple like wanting it for real estate purposes, you still need a successful real estate career with a fantastic portfolio in order to secure the funds necessary for something as expensive and grand as a skyscraper. Few real estate investors would ever touch or even dream of getting their own skyscraper to rent out, but it can be considered one of the more lucrative investments and one of the hallmarks of an incredibly successful career.

Of course, there are cheaper places to invest in a skyscraper and, much like real estate in general, the cost will depend greatly on the location that you plan to purchase or develop one. However, this will also change the amount of profit you receive from the investment as well. As such, if you’re willing to take the risk and use a skyscraper to build up your portfolio, then it doesn’t take as big of an investment as you might think and you don’t need to be an incredibly successful business owner or real estate investor to have one of your own.

But don’t let a budget investment entice you too much. It’s important to ask yourself why you’re able to invest in an inexpensive skyscraper in the first place if you haven’t obtained a great deal of success in your career. Perhaps the location just isn’t good enough for property development or maybe a skyscraper is being sold because renovating it would be extremely costly.

Some final words

So to conclude; actually owning a skyscraper doesn’t require a great deal of success unless being wealthy is the only trait on your mind when you think of success. However, to actually make use of a skyscraper or to purchase one when you’re not rich requires a great deal of success in your respective career. Whether it’s investing in a large building to rent out to prospective buyers or securing the funds to build your own skyscraper from scratch, no one is going to trust you with half a billion dollars unless you’ve proven that you know what you’re doing.

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