“Lotsa regrets on my end….. a lot of properties I’ve wanted to buy in the lower mainland over the past 7 years but didn’t “

RiskArb at RE Talks 10 Jan 2011 9:16am
“Lotsa regrets on my end….. a lot of properties I’ve wanted to buy in the lower mainland over the past 7 years but didn’t:
– parking lot on granville street before the big redevelopment
– West side lot on SW Marine with views
– Pre-sale condos in coal harbour
– First phase of Harbour Green
– Didn’t buy into Hong Kong real estate during SARS (bought in Vancouver instead) and later in 2008
– Didn’t buy into several Singapore and Indonesian projects I liked in 2007/2008…. again, cash constrained and I didn’t want to over-leverage
– Never flipped a property ever. Instead of buying and holding (I always put down 35%), I could have been more ballsy and flipped condos or put down less equity.

The reasons:
– Couldn’t scrounge up enough $$ for the parking lot on granville b/c most of my savings was stuck in an illiquid stock holding that didn’t end up making me any $$$
– My partner on the west side lot (was a small builder) bailed on me. His wife was nagging him and he gave in.
– Pre-sale condos. I bought some…. but should have done more and bought a penthouse instead of the smaller units
– First phase of Harbour Green…. this was so underpriced versus Rennie product….. should have plunked down but again, my holdings in stocks/PE at the time were locked-in and couldn’t come up with the $$$

Having said that, I’ve done better than most so i”ll count my blessings.
I’m no rocket scientist, but I usually call it right and the major f*ck ups have been when I listen to other people.”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s