Plan, plan and plan some more

QUESTION: Is Stonewall Central a better name for the property?
UPDATE (click): 2012 Audited Financial Statements
UPDATE (click): 2013 Annual Meeting packet
UPDATE (click): 2013 Special Meeting packet

AUDITED FINANCIAL STATEMENTS ANALYSIS 2009-2012 (click): A CPA analysis of SOHO Central Condominium Corporation's Audited Financial Statements

The Fantasy Vision

Does everyone remember this among the wonderful ads and brochures and how about the salespeople and what they told us. I hear such fantasies continue. So after watching and remembering, cry and then laugh at the truth that is being exposed.









And, if the above is not enough and you need elevated blood pressure, here is the project's brochure.

Many posts are still issues and need to be read once again. At this main hub of postings watch for new posts and updates. Please get involved by spreading the word as to the issues here. We must document all that is taking place. Many documents need retrieval and assistance is needed in getting them scanned and posted.

Tuesday, March 17, 2015

Careful, that turnkey may become a turkey

Careful, that turnkey may become a turkey

I have touched upon this before but after more stories about Unit Owners not wanting to get involved and some of those just wanting money from the unit as a rental property, I am concerned. Here is a quote from Wikipedia on turnkey:
 
"Turnkey real estate also refers to a type of investment. This process includes the purchase, construction or rehab (of an existing site), the leasing out to tenants, and then the sale of the property to a buyer. The buyer is purchasing an investment property which is producing a stream of income."
 
It seems that only this part is understood and not the other side of the business having to do with maintaining value by studied and active involvement in the condominium corporation to which Unit Owners are legal members. Would someone explain to me the concept of spending millions of pesos then not being fully aware of the circumstances that are bringing down the value of the property?

Short-term profit is nice but the long term goal of enhanced value is being ignored by many. This is also a serious concern to those Unit Owners who occupy their property as their home. What are they to think? All Unit Owners need to join and face the serious issues.
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