D. I. Riviera, and maybe you

Consultants or carpenters, bar owners or basket weavers, this is the room to discuss any aspect of expat working or business life in Cambodia; the where's, the who's and the why's.

Re: D. I. Riviera, and maybe you

Postby prahocalypse now » Tue Jan 28, 2014 8:03 pm

vladimir wrote:Shit, Florida, seriously, I hope they didn't rip you off... :-(


I looks like they did. http://everyday.com.kh/en/article/15740.html

Flo Rida -- I Got Jacked for $170,000 in Real Estate Scam

Image

Flo Rida got taken for a Rida -- at least according to new court docs -- the rapper claims he forked over $170,000 to purchase a house in the Sunshine State ... and the owners ran off with his money.

Here's the story -- Flo claims he attempted to purchase the home from Florida couple Pierre and Marie Malette in 2009 ... but the deal never closed.

Flo claims he handed over the money as a down payment, but the Malettes never signed over the house ... leaving Flo with no house and no money.

Sources close to Flo tells he's not as upset about the house -- he wasn't going to live there ... it's more about the dough.

The Malettes have since filed for bankruptcy ... and now Flo has filed a claim in their case, demanding his $170K.


I'd pictured him as being a white guy.
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Re: D. I. Riviera, and maybe you

Postby andyinasia » Tue Jan 28, 2014 8:08 pm

^ Shit, that's a hilarious coincidence!!
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Re: D. I. Riviera, and maybe you

Postby ken svay » Thu Jan 30, 2014 6:23 pm

I think that we should pool our money and buy a bank. They pay less than one percent interest but charge ten per centfor a housing loan? Far better to pay cash here.
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Re: D. I. Riviera, and maybe you

Postby OrangeDragon » Thu Jan 30, 2014 6:37 pm

ken svay wrote:I think that we should pool our money and buy a bank. They pay less than one percent interest but charge ten per centfor a housing loan? Far better to pay cash here.

My ABA account I just set up was bragging about their .75 for USD accounts... lol.
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Re: D. I. Riviera, and maybe you

Postby Florida » Mon Apr 07, 2014 6:37 pm

Good News !

I got good news from the Riviera folks.

"Dear sir,
Ok you can take loan but till you back.
When you come back cambodia?

Best regards"

This is good news for me, but, more importantly it is good news
for supporting high prices and good demand for D.I. Riviera.
Buyers from New York or LA or Shanghai would not want to be
putting out their personal financial statements. If the loan is
included (bought financing) it raises the value of the property.
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Re: D. I. Riviera, and maybe you

Postby vladimir » Tue Apr 08, 2014 7:14 am

Cool! Happy that you can now afford a happy Khmer New Year.

Be super-cautious next time...
Unless you believe that the future can be better, it's unlikely you will step up and take responsibility for making it so. If you assume that there's no hope, you guarantee that there will be no hope. -Noam Chomsky
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Re: D. I. Riviera, and maybe you

Postby gavinmac » Tue Apr 08, 2014 7:21 am

Florida wrote:Good News !

I got good news from the Riviera folks.

"Dear sir,
Ok you can take loan but till you back.
When you come back cambodia?

Best regards"



I wouldn't get too excited about this until I saw a communication from the lender that was a bit more formal than a typical Facebook chat message I would get from a bargirl.
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Re: D. I. Riviera, and maybe you

Postby Barang_doa_slae » Tue Apr 08, 2014 9:01 am

Florida wrote:Good News !

I got good news from the Riviera folks.

"Dear sir,
Ok you can take loan but till you back.
When you come back cambodia?

Best regards"

This is good news for me, but, more importantly it is good news
for supporting high prices and good demand for D.I. Riviera.
Buyers from New York or LA or Shanghai would not want to be
putting out their personal financial statements. If the loan is
included (bought financing) it raises the value of the property.


Can you explain this non sense ?
If the loan is included it will only raise the acquisition cost and make you tenant of your bank instead of a property owner.
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Re: D. I. Riviera, and maybe you

Postby Florida » Tue Apr 08, 2014 1:18 pm

Sure thing.

I hear that you are from S-ville so I don't know
how far to talk down to you. But I will try.

The least expensive units were selling for 90,000 US dollars.
You would need to come up with 27,000.

But the price has already gone up 10,000 dollars. If you bought
before, you already made a 35 % gain on your money. WOW !
That was quick, huh?

But if you buy now you only need to come up with 30,000.
Still a lot, but since the financing is included, a rising price
does not really deter sales of new and existing units.

This is good for all Cambodians, rich and poor, and it is
good for expat school teachers and others. How? You
might ask ?
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Re: D. I. Riviera, and maybe you

Postby Barang_doa_slae » Tue Apr 08, 2014 1:47 pm

It is quite normal for a project to raise the units price as the construction progress and even more when it nears completion.

If you buy early you take more risk and can therefore save some money vs buying an existing unit. However this won't be "a gain on your money" as you say or a capital gain (capital loss?) until you sell to a willing buyer and have his money in the bank.

Concerning the financing part, you need to add the total cost of borrowing to the unit cost. At 10% pa it can quickly add up...
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Re: D. I. Riviera, and maybe you

Postby gavinmac » Tue Apr 08, 2014 2:01 pm

Have they told you the interest rate at which they are suddenly now willing to loan you money without extensive documentation and proof of your financial wherewithal? Isn't that kind of important?
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Re: D. I. Riviera, and maybe you

Postby Florida » Tue Apr 08, 2014 2:16 pm

Thanks Gav,

I really see it as establishing a banking relationship.
I love the personal level of communication.

And I would like to thank you again for your tip of
going to the main office of Canadia Bank to get a
GOLD CREDIT CARD for the mere deposit of 2,500 dollars.

My cards had expired and I had no current banking relationship.
Some banks wanted me to justify myself by submitting
this paper or that. I did not like that.
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Re: D. I. Riviera, and maybe you

Postby flanostu » Tue Apr 08, 2014 2:40 pm

I've got more confidence in weed penny stocks than the Cambodian real estate market.
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D. I. Riviera, and maybe you

Postby Capital_9 » Tue Apr 08, 2014 6:04 pm

Florida wrote:
And I would like to thank you again for your tip of
going to the main office of Canadia Bank to get a
GOLD CREDIT CARD for the mere deposit of 2,500 dollars.

My cards had expired and I had no current banking relationship.
Some banks wanted me to justify myself by submitting
this paper or that. I did not like that.


When a credit card is close to expiry date, one usually gets mailed a new one without even asking. What do you mean by "My cards had expired"?
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Re: D. I. Riviera, and maybe you

Postby gavinmac » Tue Apr 08, 2014 6:06 pm

Florida wrote:And I would like to thank you again for your tip of
going to the main office of Canadia Bank to get a
GOLD CREDIT CARD for the mere deposit of 2,500 dollars.



You're welcome, you crazy bastard. I never gave you any advice or tip on anything like this.
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