hello rolla coasta, you seemed to have dropped off, trust all is well and you would rejoin the fellow and fellowetteship soon enough.
to continue this discussion Message 25974193 where i recommended "... gathergold, collect hk INDUSTRIAL estate, storesilver, pileplatinum"
and this adventure where i bought, for and on behalf of another fellowship
Message 25904434 august 31st 2009
Message 25865450 august 14th 2009 when much was bought during the month <<... have added massively to hk INDUSTRIAL real estate by way of my family and friends real estate club and own account at deep value discount from everything else around the planet and everywhere else hk, much of it structured as sale & leaseback, to assist leverage-challenged entreprenuers with balance sheet recovery. the recent adds, all-in four units, are bought at psft prices ranging from 1/20 to 1/5 of all other possible properties in hk, basically at construction cost, and some at construction cost of 1980, all without attributing to land value, and the sale & lease back rent yields range from 4 to 6.8% on cost.>>
and we are starting to be rewarded for doing god's work.
just cleared from e-mail tray ...
From: J
Sent: Thu, May 26, 2011 6:23:27 PM
Subject: Re: Comments - Week of May 23
we do not approve of any "real estate tax" talk ... it is not bullish.
received formal offer for the gold bunker club's property at blue-box industrial:
- 3,420 sft
- hkd 10m bid (by site aggregator / developer)
- we paid 3.7m on 14 october 2009 (gold was @ $1,060 that day)
- was valued at 6.15m on sept 2010 valuation service
- had always been on sale/lease-back rent at 20k per month (fixed for 3 years)
- original purchase rationale was based on selling the property at 5m in 2015 (silly us)
- tenant has been late in rent several times and we had issued warning letters (tse tse tse)
- shall study lease contract, consult lawyer, and ask for improved bid (figure 12m).
- it would appear that first bid places hk industrial real estate performance relative to gold favorably (increase of 170% vs 43%), not counting rent
what to do with excess savings and surplus capital for n on behalf of the club is a headache.
From: M
Sent: Thu, May 26, 2011 3:17:31 PM
Subject: Re: Comments - Week of May 23
You would think that people from the Southern US would get it more than most, given their currency went to zero a mere 145 years ago....
If my ancestors had only traded their land and cash for gold, I'd be rich!
But seriously, we had thousands of acres of oceanfront land.
What happened? In part, no "real money" to pay the real estate taxes.
Lesson learned - Jay, if they ever threaten to institute a real estate tax here in Hong Kong, sell asap.
There is plenty of real estate here in Hong Kong, just not available real estate.
Most people would be shocked at how many rich people in Hong Kong own numerous flats that they neither live in nor rent out.
They don't care because their carrying costs are minimal in all areas, including the fact that there is basically no tax.
Want to really bring down Hong Kong prices and make them affordable?
Simply put on a property tax at levels that make carrying costs significantly negative.....you'd see a flood of property come onto the market.
M |
