We beleive that the Middle East is the finest city anywhere. The climate is pleasant and the sea shore is beautiful. The Holy Land is located there so everyone wants to live there also.
In 2003, we bought a house on Iraq street. The place was a dump and the price was sky-high but we knew for sure that prices will keep on going up and the neighborhood would gentrify once we moved in and started to make improvements. Everyone in the neighborhood will copy us and beautify their houses, thus creating even more appreciation. It’s a slam dunk!
People who don’t follow us and invest in the appreciating Middle East market will be forever priced out. We certainly won’t share our newfound wealth with the loosers who didn’t listen to us. However, people in the coalition of the willing investors will be amply rewarded.
It’s now 2006 and we think that the improvements that we’ve made to the Iraq house positions it well in this stable market and improving market. After we borrow some more money and make additional improvements, we think that we can sell in it to investors. They are already standing by ready to buy the house — well they still need to qualify for a loan. They are credit counseling right now trying to improve their FICO scores.
The holding cost and negative cash flows have been killing us for the last 3 years but we’re confident that we can make it all up in appreciation.
Oh, btw, it looks like the houses on Lebanon Court, Syria Circle and Iran Way are great investments also. Unfortunately, we sunk all of our money in the Iraq house already so we need to borrow some more from the Bank of the People of America. But don’t worry, once all those houses sell, we’ll be so rich that we’ll be the masters of the universe.
That investment is for real, man. Don’t miss the boat!
