Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Cogito Ergo Sum who wrote (5376)	12/13/2001 11:54:14 PM
From: Davy Crockett	Read Replies (1) of 36161

Hi Kastel, In the late 80's & early '90s I was in the restoration biz. ie: rehabilitating commercial & rental/condo highrises to make them more attractive to buyers (typically offshore) who where interested in the ROI long-term. It is my understanding that @ that time in the Toronto area investors were quite happy to pick up units of say an apartment building for $35,000.00 dollars Cdn & would flip them if they reached their target of $80,000.00 CDN. When you multiply the number of units to... say one building $35,000 X 300 units & do the flip o'rama... that is one heck of a lot of coin. I am not in the biz anymore... but I still have some friends who are... who have been "frantically" selling their real estate assets since last year. Both commercial & rental real estate primarily highrises FWIW. One guy I party with was just looking for a double in the rental real estate market. IMHO, he nailed the top... (he is much smarter than I am thats for sure) BWTFDIK, Peter

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