Thursday, December 13, 2007
I have a dream to set up and run a fund specifically to take advantage of the current and unfolding real estate market. Three hundred million would be a nice start but a billion would be better. I know of a defunct project in a great location that can be had for 30 cents on the dollar. The problem is that is still about 100 million dollars. I know of a company ripe for a takeover but it would take 300 million dollars to do so. Some would say this is a pipe dream and maybe it is but my head is consumed with these potential deals. Some of them have a 300% return (again potentially) in the next 5 years. WCI (not one that I am going after) is a perfect example. Not to pick on them (WCI) but they have made some poor choices and too many people with too much money have been running the company. WCI is just the poster child, there are many more out there. Some can be nursed back to health and sold for nice margins or kept for nice dividends. If I were you I would ask, "why not put your money where you mouth is?" and the answer is I have and I do. I just don't have 100 million sitting around. I have made money and I will make money. Sometimes a guy just needs a little help. In my case I just need a few people to sit down with me and listen to the details about specific targets. I believe a reasonable person will like what I have to show them. Unlike a typical broker or agent that many times does not care about what happens after the deal is done, I want to run these deals. While commissions are great to pay bills and keep my office open, the real money will be in how the assets are managed and enhanced. Also unlike most "investment advisors" I will risk my own money to show I will put my money where my mouth is. I have a dream of making the right people a lot of money. I have a dream that luck is when opportunity meets preparation. I am prepared I just need opportunity. Feeling lucky?