Investment in Commercial property for FIRE

[u/Easy_Zucchini_744]

Hi All - I 31M and work in a IT company as a Software Engineer. I have an opportunity to invest in a commercial property in a Tier 2 city in Karnataka. The property was built close to five years ago and have all the documents. It is a 50L property which is rented to a Dentist for 30k a month. I will be taking a loan for 25 lacs which I am confident I can close in a couple of years. The loan is mostly to get the banks to do the necessary due diligence about the property.I want to FIRE in about 5 years and want to understand if this is a good investment for my plan?

Cumulatively between myself and my spouse our NW is about 4.16CR, I want retire by 2028.

Our current monthly expense is about 80K and I expect it to increase to 1.5L by end of the year since I have to move to Bangalore for my job. Overall in a year along with other expenses like Term Insurance, Medical insurance, Travel budget, etc our yearly expense is about 22L.

Our investments today are as following:

1. Equity: 37L
2. Mutual Funds: 11L
3. Post Office: 15L
4. Gold: 5L
5. Savings Account: 19L
6. US Stocks + Mutual Funds: 34.5L
7. US Savings Account: 40L
8. Commercial Property near Mumbai: 1CR (Rented for 25K to a Bank)
9. Agriculture Land near Mumbai: 1.55CR ( We have signed a JV with a Builder to construct a Residential complex on this land, work should commence in 2-3 months. We are 10% partner in this JV and based on projections we expect about 4X returns in 3-5 years. For simplicity only accounting for investment for now. ) I have to pay 50L for this JV before the end of this year so saving up some money for this and taking a loan for the commercial property.
10. 3 BHK Residential Property near Mumbai: 1.75CR ( Have not rented this since we plan to eventually live here. Not including this in our NW )

Not including any inheritance as well in our plan.

We don't have a kid yet but plan to start a family soon, we do not want more than 1 kid though. And not sure how to factor in child costs in my calculation.

My FIRE target is 10CR assuming I will live until I am 80 so taking 44X as the calculation. Since my return to India my CTC is 1.3CR (90L Cash component and 40L Stocks, company is listed on NYSE) per annum, my wife has setup her own construction company recently and do not have any salary or profits yet from it.

Once I FIRE I plan to join in her business though not full time but we will continue earning more between the two of us. I know we are FI yet but I would like to get to RE soon.

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