— rare attractions of Cambodia shops
- 10Y rental guarantee, hassle-free, but credit risk
- reducing (not eliminating) non-deterministic “GC” distraction when I’m under stress at work at at home
- shops or Grade-A office — precious but location may not take off. Many China buildings are competitors.
- quantum is much smaller than even a residential unit
- currency — rare in affordable countries
- reputable mgmt agency
–in early 2019, I told Susan Lee my 3 main concerns about a 4th unit — OPM reserve depletion; infatuation + concentration risk; leftover units
- 🙁 liquidity — This investment is not same as NY savings products that you can exit at any time.
- 🙁 left-over units, same price but lower value than other units
- 🙁 5.5% is much lower than 7% in BridgeRetail, but need to consider U.S. haircut
- 🙁 too high concentration? Total USD 350k, still lower than a single unit in Bayonne or SG
- 🙁 infatuation — Am currently swept off my feet by 10Y guarantee + CapitalLand + Shangri-La brands. Remember my overzealous investments into Unifund and commodities (1997) and high-yield bond (2013). It’s better to cool down for a few weeks, discuss with Jack or another fellow investor in depth and explore both the positive an negative.
- In contrast, I feel the 3rd shop unit (first PeakRetail) was a fairly aggressive decision, given the cash position I have, using wife’s 70k and grandpa’s 26k.
— funding strain –> Need to rebuild OPM reserve NOT another shop
- + I have 25k + 10k + 10k across U.S. banks. Negligible loss if withdrawn now
- + I can cash out the 2.5k from Chip
- + I can cash out the 6 GS shares
- + I have USD 9900 from grandpa but I have already borrowed 16k from grandpa — a sign of infatuation and overzealous investor.
- – I already borrowed and invested 70k from wife and 16k from grandpa — a sign of infatuation
- – I already exhausted the warehouse fund from Jay Hu — sign of infatuation
- – BGC ? may need to borrow from wife — a sign of infatuation
- – tight schedule — half the payment is due by 30 Jun 2019, the other half at TOP possibly end of 2019.
- Conclusion — Without OtherPeople’sMoney (like grandpa’s and wife’s), I really can’t afford such a shop unit.