I often get asked about what I do at a more detailed level - so I thought it would be good to show an example.
It's funny when I explain deals to people who think differently. Some people love numbers and others don't. One of my friends Matt loves them (we affectionately nickname him Rain Man). Other people are visual and it's all about the look of a house and how it's transformed. Others are very much emotional, it's about how investing makes them feel and how it makes a difference to the community. So I'll put a few of these items into the progress report.
Remember I am a value investor, so it is all about value. I identify value in terms of equity and also cash flow. We focus on purchasing property at a steep discount to the true value of the property and we also look for deals that provide a very generous cash flow in a safe neighborhood.
This property was purchased in Ohio from a bank who had foreclosed on the property, taken possession of it and sold it to us to clear their books of the bad debt (banks need to reserve more capital against bad debts, and this reduces the amount of money they can then loan out).
There are some great stories that go with each property. Here is a few from this property:
It's a typical deal that we at Asher Management are delivering on.
If you'd like to know more, or are interested in these types of deals, reach out to me. I'd be very happy to share more information.
Find out more by contacting Simon.