The year, is finally coming to the end. Sadly, we just found one of our friend is moving back to Philadelphia. They originally move from Connecticut 5 years ago, work for a major local orthopedic company as director of tax accounting, bought my old house (5 car garage, I still love the house), their son and my daughter going same school and same grade, so we become friends, we share a same pier spot by my house.
This year, the 3 major orthopedic companies, all launched a year-end layoff, eliminated about 300 middle management positions..of course, my friend is one of them...so they put their house back on the market, and will be moving by Xmas time.
These 3 companies, accounts for 60% of local employment, either directly or indirectly. luckily, they announced there will be more capital expenditures in 2012, adding more local positions. As most all the local work forces are in assembly lines, and most R&D, middle level management people are outsiders.
I am foreseeing next year, high-end houses will continue to face pressure locally, while low - medium range rental will still in demand.
2011, will be my best year ever (don't think it will happen again), due to combinations of varies things. To mark this unbelievable year, I must say thanks to all my partners, and my 2 generous insurance companies, and I am so glad I don't have to face unexpected surprise like my friend did at Xmas time.
Kids will be out of school after next week, life to me, is still beautiful...
2011 performance
--Realized--> don't know yet.
--Unrealized –
RE - Landlord (burn complex + house, insurance money not realized)- $167,000
RE - Landlord (Equity Gain from rehab) --------------------------- $0
RE - Landlord (new complex, partnership, equity gain) ---------- $314,000
RE - Landlord (Principle Pay Down) --------------------------- $146,000
RE – Land Development (50% ownership) ----------------------- $9700
RE - Landlord (3% local appreciation of 8.3mil Property values) --- $249,000
RE – Florida Land Partnership (33.3% ownership) ------------ $0
Mutual Fund / Stock (too small to worry)--------------------------- $???
Total Unrealized income ------------------------------------- $885,700
This year, the 3 major orthopedic companies, all launched a year-end layoff, eliminated about 300 middle management positions..of course, my friend is one of them...so they put their house back on the market, and will be moving by Xmas time.
These 3 companies, accounts for 60% of local employment, either directly or indirectly. luckily, they announced there will be more capital expenditures in 2012, adding more local positions. As most all the local work forces are in assembly lines, and most R&D, middle level management people are outsiders.
I am foreseeing next year, high-end houses will continue to face pressure locally, while low - medium range rental will still in demand.
2011, will be my best year ever (don't think it will happen again), due to combinations of varies things. To mark this unbelievable year, I must say thanks to all my partners, and my 2 generous insurance companies, and I am so glad I don't have to face unexpected surprise like my friend did at Xmas time.
Kids will be out of school after next week, life to me, is still beautiful...
2011 performance
--Realized--> don't know yet.
--Unrealized –
RE - Landlord (burn complex + house, insurance money not realized)- $167,000
RE - Landlord (Equity Gain from rehab) --------------------------- $0
RE - Landlord (new complex, partnership, equity gain) ---------- $314,000
RE - Landlord (Principle Pay Down) --------------------------- $146,000
RE – Land Development (50% ownership) ----------------------- $9700
RE - Landlord (3% local appreciation of 8.3mil Property values) --- $249,000
RE – Florida Land Partnership (33.3% ownership) ------------ $0
Mutual Fund / Stock (too small to worry)--------------------------- $???
Total Unrealized income ------------------------------------- $885,700
选择“Disable on www.wenxuecity.com”
选择“don't run on pages on this domain”
