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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: pezz who wrote (58984)	1/15/2005 8:52:12 AM
From: TobagoJack	Read Replies (2) \| Respond to of 74559

heck, anything is better than shorting housing shares worldmarket.blogspot.com having trouble staying awake for the NYSE Death Match probably will join you on Monday in ... what was that zoo animal? oh, yes TCow :0)

To: pezz who wrote (58984)	1/19/2005 3:45:58 AM
From: TobagoJack	Respond to of 74559

Hello Pezz, Yesterday's Report: I committed a few tranches to a developmental (as opposed to rental) real estate in tiny Macau hk.macautourism.gov.mo . The story is comprised of 9,000 square meters of ocean frontage land, overlooking on the back side the new "Las Vegas" of the East that, imo, will likely beat out Vegas for the top billing theage.com.au The lead general partner, a friend of 15 years, placed deposit on the land and farmed out the club's USD 61 mn of equity and USD 41 mn of debt within a very fast 48 hours, and over-subscribed. I had to beg, grovel, and threaten, in order to pile on, squeeze in, elbow through, just to get a sliver. Even so, there likely will be a scale-back for all the little people such as I. One major partner (40%) is a listed Singapore Property Developer who is building some large hotel (a 5+ star outfit generally manages their properties around the globe) across the street from our site, and the other major member (40%) is a big swinging dick type of investment bank out of the good old USA. We will not be putting up a hotel/office at 15 plot ratio. We will put up the first Grade A apartment building at 10 plot ratio. Macau traditionally had not had a market fro Grade A apartment, but matters are transforming. I look forward to sell some goodies to them Taiwanese compatriots as they beg, grovel, and threaten, in order to pile on, squeeze in, elbow through, just to get a piece of travel paper from the Macau government. An apartment building should do well even if Money Rock Hong Kong decides to get into the casino business in competition with Safe Haven Macau, because Macau's real estate price levels are at 1/3 to 1/4 of the HK level, even though it is only a short hover craft hop from Freedom Mountain Kowloon. On a separate matter, I made arrangement to travel across the northern border to Shenzhen to attend a friend's birthday party this coming Sunday, and he will show me his newest distress asset situation, a topped-out but otherwise unfinished building in downtown Shenzhen, to be purchased at 16% of market value of a finished building. He does not intend to finish the building, but hopes to do a quick flip, double the equity, and run for the hills. I was trying to stay awake to buy into TCOW, but gad, it has been a rough three days. I will try again tonight, for a dollop. Chugs, Jay