The numbers dont matter; its the integrity of the parties that count

Every generation needs a revolution - an entrepreneurial revolution

This post could be seen as a rant and does not promote friendship but take this as an advice and as a learning experience  as a lesson:

1.  A 500 sm property which we intended to buy as part of the project was pulled from under our rug.  I dont know what went wrong.  Was our agent sleeping or did not believe a a word we were saying. Or some people lack integrity

2,   A 2,600 sm has been idle for the last 3 years and was offered for sale.   We all ready offered an x amount  a 50% dp and balance payable in 6 quarters.     They countered a 60% dp, and balance payable

monthly.   We cant advance anymore     People do not have buyers and when they do have, ask for the skies

3.   A 9,400 sm was offered in a depressed area.   The terrain is depressed too. It is an EJ property (being

owned by a deceased parent)   It can only be passed to low income buyers and needs a new entrance.  There is daw.  Just waiting if really there is a new access road to the main road.  

More retail stores being established in PHL despite closing trend in US

Every generation needs a revolution - an entrepreneurial revolution

As this post travels and bikes, it is observed that the construction of retail convenient stores is on the rise.  The experience of this post is that retail margins are paper and even blade thin. Couple this with high

power costs  high labor costs due to night differential, security cost and theft from shoplifting and you can see that risks are high.

Or the business model is that of a convenience stores where margins could be 15% to 20%

See the folding up of many retail stores in US closing by the thousands (being replaced by on line stores)

Is the situation in the Philippines markedly different.?   Will the stores survive?

Being an achiever in real estate

Every generation needs a revolution - an entrepreneurial revolution

We have in business for 40 years.  One of the mantras for secret of success we keep is "Keep your word"

Last week we had two meetings to signal our comeback to subdivision development which we left in 1997 due to Asian financial crisis.  One reason we had this meeting is to recover our exposure to our developer who is well known to my daughter who is now a senior officer of the company.  The objective of the come back was to recover the exposure we had to her former boss through packaging fees or profit from the undertaking.

The tripping meeting was to show us lots that could be payment in kind to almost 8 figures of exposure.

However the lots presented were to be priced at 5 numbers but it was badly developed:   cracked roads, incomplete road network, wrongly placed open space.  No centralized water system network and to think that the owners developers of the project are well known personality:   congressman from Visayas, former GM of a pharma, and now the former boss of my daughter.

It dawned to me that my daughter did not get this secret of success of keeping our word.   The former boss said he was willing to shoulder 1/3 of the debt (but their PN did not say so).  So much for the display of pomp and status of "execs"  from CBD who are all words and spreadsheets but no achievements