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flipper

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Posts posted by flipper

  1. Ah, my old stompin' grounds! Parker Elementary, Johnston Junior High, and Westbury High. I wonder what these schools are like nowadays? Beautiful house though, flipper! I haven't seen tile done like that before in a shower with the big slab tiles, and I really liked it. Do you find that a pretty good number of homes in the Westbury area have foundation problems?

    I think 77035 and 77096 keep the foundation repair companies in business :)

    flipper

  2. Beautiful wood floors, slab granite counters, undermount sinks, glass mosaic tile, glass shower in master bath. French Doors out to beautiful slate patio. Recent electric service, foundation repair, electric/plumbing fixtures, stainless appliances. Great attention to detail and quality throughout.

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    http://search.har.com/engine/doSearch.cfm?...&FOR_SALE=1

    http://maps.google.com/maps?ie=UTF8&q=...&iwloc=addr

    Please note for disclosure purposes, I am the owner and the agent for this property.

    PM me if you have any questions.

    flipper

  3. TL. You're right, nice car that was beat with an ugly stick. They could easily improve things a bit by taking that thing off of the grill.

    Several dealers are painting the grilles to give them a better look. I saw a black one at the dealer today with it done.

    This is from another forum though:

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    flipper

  4. It is a term that can mean different things to different entities, depending on the situation. But the essence of it is a case where an investor acquires a strategically-situated parcel of land that is perhaps not yet prime for development, and then just holds on to it until such time as development makes more sense. If applied to a deep-pocketed investor, such as an insurance company or pension fund, then all it is is a speculative medium- or long-term land play. When applied to a more entrepreneurial entity, the term often implies that some kind of light-use alternative activity is going to generate minimal revenue (i.e. surface parking, flea market, a fenced-in storage lot, a semi-permanent taco stand on wheels, etc., or if there are functionally obsolete improvements, then to make slight upgrades to them and then lease it out to a low-rent tenant that doesn't care if the roof leaks a little or that the floors are uneven) that is able to offset the holding costs.

    For instance, I know that I won't make any operating profit by buying up a couple dozen crappy old houses in 2nd Ward and slumlording them out, but I do know that the revenues might be able to offset my holding costs sufficiently that I can sell them all off for lot value in ten years and make a pretty penny. That would be an example of landbanking.

    Another example would be if a hedge fund purchased a strategic development site during a financial crisis and recession, and then just held onto it for a couple of years until the market improves enough that there is a non-speculative buyer.

    To be clear, I would sincerely doubt that the Shriners landbanked their Braeswood site intentionally. But the effect is basically the same.

    Thanks Niche,

    I would be good at this as I always seem to find a deal for much less than the next guy.... Ahh, but the cashflow!

    flipper

  5. Archstone had bought it to develop apartments. Don't think that that's going to happen though.

    The Shriner's made lots and lots and lots of money from the sale of the land. To the extent that the existence of the building allowed the organization to essentially 'landbank' the site, the revered donors did the organization more good than they will ever know.

    What does that mean, to "landbank"?

    Thanks,

    flipper

  6. Good article Lisa.

    Despite the repairs needed on the house, my opinion is that the biggest "negative" the house has going is the location. Ironically, it might be what ends up saving the house from demolition though.

    flipper

  7. My guess is that he and his fictitious girlfriend are on the outs.

    By the way, I went to the Bellaire New Home Showcase and his house was my least favorite, and not only because I went into the house with a bad attitude. The floor plan just made no sense to me.

    The high price may have to do with the cost of clearing the land (aka the Cohen Curse)!

    This is just another bad chapter in this bad book.

    Jason

    http://search.har.com/engine/dispSearch.cfm?MLNUM=2474064

    Ahh c'mon, you're showing your bias. You mean to tell me you liked the house with the unusable room better?

    flipper

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