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Lesson from Real Estate

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Philip Weaver

Lesson from Real Estate

I attended a real estate seminar this weekend. The speaker gave an example of a distressed property. The new owner purchased an apartment complex and renovated for over a year to great extremes. Build it and they will come. When the new owner finally re-opened the property, occupancy never materialized and the rate of return was negative. This property owner was not a traditional real estate broker. This property owner was an engineer.

I also learned much about cash flow this weekend. If anyone would like to discuss cash flow and the Lively Kernel, please chat me up.

On Fri, Jul 16, 2010 at 9:15 PM, Philip Weaver <[hidden email]> wrote:

If no member of this mailing list is exploring any degree of funding to help propel this project, then that is a great tragedy.

There are approximately 110 people on these lists. This issue does not fall to Jens or Dan or Robert. I will allow myself to be challenged and I will welcome the challenge. If no member of this mailing list is exploring any degree of funding to help propel this project or some derivative then that is a great tragedy.

I will email each of you individually if necessary.

Philip Weaver

Dan Ingalls-4

Re: Lesson from Real Estate

Hi, Phil -

I'm not wanting to "renovate for over a year to great extremes", but I also don't want LK looking like a storage shed when potential buyers start walking through. I think that about a dozen tweaks by someone with good aesthetic sense would do wonders.

- Dan

>I attended a real estate seminar this weekend. The speaker gave an example of a distressed property. The new owner purchased an apartment complex and renovated for over a year to great extremes. Build it and they will come. When the new owner finally re-opened the property, occupancy never materialized and the rate of return was negative. This property owner was not a traditional real estate broker. This property owner was an engineer.

Philip Weaver

Re: Lesson from Real Estate

In reply to this post by Philip Weaver

I do agree that decorating this property is more important currently than installing a new pool in the backyard. In fact, I would halt construction temporarily. Instead of construction I would want everyone to decorate, landscape, put a sign in the front yard, and ads in every paper: for rent (SaaS). Lively is still a hot property.

On Tue, Sep 14, 2010 at 1:44 AM, Dan Ingalls <[hidden email]> wrote:

Hi, Phil -

I'm not wanting to "renovate for over a year to great extremes", but I also don't want LK looking like a storage shed when potential buyers start walking through. I think that about a dozen tweaks by someone with good aesthetic sense would do wonders.

- Dan