Richard Crenian Blogs
March 3rd, 2010
Banking Money and You……by Richard Crenian
Just the facts, Ma’am:
First quarter profits…….
National Bank at $215 million up from 69 million;
BMO -Bank of Montreal $657 million from 432 million;
TD Bank shows double their quarterly profit posting a gain of 1.3 billion dollars.
These are the quarterly results of the Canadian banks. These banks are what the global standard is set by. It is obvious why.
With all the bank failures in the US (15 alone in the month of January), it is wonder why one picks Canada for safety and security. The knock about Canada and the Canadians is that they are too quiet, too polite, and too boring. If you are an investor boring is good, and if you are an investor past 45 years old, boring is great.
Oil, gold, etc have been great commodities for the rich commodity Canada. Is it any wonder why we are lucky to be here and live here? Is it any wonder that foreign investors are flocking here; wealthy immigrants are moving and wanting to move, to Canada. Boring is good sometimes, and being here in Canada we are glad.
Howard and I are both boring investor turtles, we will go slow and steady into the sunset, like we want our investments to do. Why not? We aren’t going to be around forever but when we are we will take care of our day to day concerns and leave well for those that remain.
Call Howard at 4036304544 or email him at howardmanley@shaw.ca to chat or exchange ideas. Of course you can always write to me at richardc@redevgroup.ca. Thanks for reading.
Richard Crenian
www.redevgroup.com
Showing posts with label Richard Crenian. Show all posts
Showing posts with label Richard Crenian. Show all posts
Friday, March 5, 2010
Tuesday, March 2, 2010
Canada, eh?
Richard Crenian Blogs
2-Mar-10
Canada Eh?
I’ve been thinking about this quite a bit. I’ve been reading in the newspaper about what’s happening in Greece. Their economy is so laden with debt. When you look at the countries like Greece, Germany, Portugal, Spain you can’t help but notice they are all in dire straits. It’s no wonder! The trouble starts because they’re buying each other’s paper and gradually there isn’t money to back the paper.
In the case of Greece, the country has so much debt it cannot issue any more paper as it isn’t worth anything.
Next thing you know the Euro is affected and the European Union is scrambling to figure out what to do. What a mess!
Also, last week we spoke about what is happening in the U.S. in terms of foreclosures.
It is still scary.
Yet is happening in the USA seems starts to seem tame by comparison to what is happening in parts of Europe. Now that the Euro is weakened by all the debt you are seeing the U.S. people are now buying the U.S. dollar despite the scary things happening in the States.
I am not an expert on world politics or the world economy but whenever you read things like this it really makes you appreciate what is happening in Canada.
As the Euro falls the Canadian dollar picks up steam.
How does that play into Canada or why is Canada such a good place? When you read what has happened in the last few days you know that the Canadian economy has expanded by 5% (annualized) in the fourth quarter of 2009, and when you see a number like a 5% annualized you know that things are going well.
We haven’t seen gross domestic product growth since 2000. Why is that? Well when you look at what is happening in Canada, we have mining we have oil and gas, and we have manufacturing, construction and a whole gamut of service producing industries.
This has continued to fuel the wholesale trade along with real estate in Canada.
This may mean we will see our Canadian government raise interest rates in the third quarter or fourth quarter of this year (2010) so the economists say, in an effort to control growth and inflation and help maintain the safe economic environment we’ve grown accustomed to.
Its little wonder Canada’s fast becoming worlds preferred place to invest in.
Good governance, good place, good timing. Go Canada, go!
Richard Crenian
www.redevgroup.com
richardc@redevgroup.ca
2-Mar-10
Canada Eh?
I’ve been thinking about this quite a bit. I’ve been reading in the newspaper about what’s happening in Greece. Their economy is so laden with debt. When you look at the countries like Greece, Germany, Portugal, Spain you can’t help but notice they are all in dire straits. It’s no wonder! The trouble starts because they’re buying each other’s paper and gradually there isn’t money to back the paper.
In the case of Greece, the country has so much debt it cannot issue any more paper as it isn’t worth anything.
Next thing you know the Euro is affected and the European Union is scrambling to figure out what to do. What a mess!
Also, last week we spoke about what is happening in the U.S. in terms of foreclosures.
It is still scary.
Yet is happening in the USA seems starts to seem tame by comparison to what is happening in parts of Europe. Now that the Euro is weakened by all the debt you are seeing the U.S. people are now buying the U.S. dollar despite the scary things happening in the States.
I am not an expert on world politics or the world economy but whenever you read things like this it really makes you appreciate what is happening in Canada.
As the Euro falls the Canadian dollar picks up steam.
How does that play into Canada or why is Canada such a good place? When you read what has happened in the last few days you know that the Canadian economy has expanded by 5% (annualized) in the fourth quarter of 2009, and when you see a number like a 5% annualized you know that things are going well.
We haven’t seen gross domestic product growth since 2000. Why is that? Well when you look at what is happening in Canada, we have mining we have oil and gas, and we have manufacturing, construction and a whole gamut of service producing industries.
This has continued to fuel the wholesale trade along with real estate in Canada.
This may mean we will see our Canadian government raise interest rates in the third quarter or fourth quarter of this year (2010) so the economists say, in an effort to control growth and inflation and help maintain the safe economic environment we’ve grown accustomed to.
Its little wonder Canada’s fast becoming worlds preferred place to invest in.
Good governance, good place, good timing. Go Canada, go!
Richard Crenian
www.redevgroup.com
richardc@redevgroup.ca
Friday, February 19, 2010
The New Sheriff by RIchard Crenian
Richard Crenian Blogs
February 19, 2010
The Sherriff of Wall Street
Wow, the Globe reported a story from the Associated Press that former CEO of Bank of America Ken Lewis misled investors about Merrill Lynch before B of A acquired it.
Lovely. Imagine being misled by Wall Street. Who would have thunk.
Bottom line the story is that B of A knew that the losses at Merrill were larger than anticipated but they chose not to tell investors. A Bank doing what? To whom?
Yes those mutual fund cos that bought into B of A and thought they were going great guns. What was the problem anyhow? The Bank had to report full disclosure, right?
Wrong. So here we are that the AG’s (Attorney General’s office) is charging them, and we also learn that B o A were trying to resolve the matters with the SEC as well. (Of course since the SEC was to regulate Bank of America as well.)
Anyhow, Howard and I like investing in what we control. Simple retail shopping centers. It is what it is.
I don’t have to worry about our investments, we have professionals we deal with and life is good. We are not in the get rich quick scheme of things. Just slow and steady. Just imagine, how big your savings would be today if you started investing and saving since day 1. Assuming of course you were choosing safe investments, and not gambling on the stock market.
Call Howard at 4036304544, or email him at howardmanley@shaw.ca to discuss strategies, or write me at richardc@redevgroup.ca.
Thanks for reading.
Article attached from the Globe below.
Richard Crenian
www.redevgroup.com
From the Globe website
Stephen Bernard and Ieva M. Augstums
New York — The Associated Press
Published on Thursday, Feb. 04, 2010 11:44AM EST
Last updated on Thursday, Feb. 04, 2010 1:54PM EST
.The New York Attorney General's office said Thursday it filed civil fraud charges against Bank of America Corp. (BAC-N14.90-0.63-4.06%) and its former chief executive officer Ken Lewis, saying the bank misled investors about Merrill Lynch before it acquired the Wall Street bank in early 2009.
Civil charges were also being filed against Joe Price, the bank's former chief financial officer.
At the same time Attorney General Andrew Cuomo's office was filing its civil charges, the U.S. Securities and Exchange Commission reached a settlement to resolve separate federal charges it brought against Bank of America over similar issues. It is the second time the SEC and Bank of America have tried to settle the case.
Bank of America has been accused of failing to properly disclose losses at Merrill and bonuses paid to investment bank employees before the deal closed. Mr. Cuomo called Bank of America's actions “egregious and reprehensible” in deceiving not only shareholders, but also the federal government.
The bank received an additional $20-billion (U.S.) in government bailout funds in January, 2009, to help offset losses it absorbed as part of the Merrill Lynch acquisition. In December, Bank of America repaid the $20-billion, plus the initial $25-billion it received in government bailout money.
Mr. Lewis stepped down as CEO from Bank of America on Dec. 31 after almost a year of strife that followed the bank's purchase of Merrill Lynch. Mr. Price became head of the bank's consumer banking division, taking over for Brian Moynihan, who succeeded Mr. Lewis as CEO on Jan. 1.
Mr. Moynihan is not under investigation.
February 19, 2010
The Sherriff of Wall Street
Wow, the Globe reported a story from the Associated Press that former CEO of Bank of America Ken Lewis misled investors about Merrill Lynch before B of A acquired it.
Lovely. Imagine being misled by Wall Street. Who would have thunk.
Bottom line the story is that B of A knew that the losses at Merrill were larger than anticipated but they chose not to tell investors. A Bank doing what? To whom?
Yes those mutual fund cos that bought into B of A and thought they were going great guns. What was the problem anyhow? The Bank had to report full disclosure, right?
Wrong. So here we are that the AG’s (Attorney General’s office) is charging them, and we also learn that B o A were trying to resolve the matters with the SEC as well. (Of course since the SEC was to regulate Bank of America as well.)
Anyhow, Howard and I like investing in what we control. Simple retail shopping centers. It is what it is.
I don’t have to worry about our investments, we have professionals we deal with and life is good. We are not in the get rich quick scheme of things. Just slow and steady. Just imagine, how big your savings would be today if you started investing and saving since day 1. Assuming of course you were choosing safe investments, and not gambling on the stock market.
Call Howard at 4036304544, or email him at howardmanley@shaw.ca to discuss strategies, or write me at richardc@redevgroup.ca.
Thanks for reading.
Article attached from the Globe below.
Richard Crenian
www.redevgroup.com
From the Globe website
Stephen Bernard and Ieva M. Augstums
New York — The Associated Press
Published on Thursday, Feb. 04, 2010 11:44AM EST
Last updated on Thursday, Feb. 04, 2010 1:54PM EST
.The New York Attorney General's office said Thursday it filed civil fraud charges against Bank of America Corp. (BAC-N14.90-0.63-4.06%) and its former chief executive officer Ken Lewis, saying the bank misled investors about Merrill Lynch before it acquired the Wall Street bank in early 2009.
Civil charges were also being filed against Joe Price, the bank's former chief financial officer.
At the same time Attorney General Andrew Cuomo's office was filing its civil charges, the U.S. Securities and Exchange Commission reached a settlement to resolve separate federal charges it brought against Bank of America over similar issues. It is the second time the SEC and Bank of America have tried to settle the case.
Bank of America has been accused of failing to properly disclose losses at Merrill and bonuses paid to investment bank employees before the deal closed. Mr. Cuomo called Bank of America's actions “egregious and reprehensible” in deceiving not only shareholders, but also the federal government.
The bank received an additional $20-billion (U.S.) in government bailout funds in January, 2009, to help offset losses it absorbed as part of the Merrill Lynch acquisition. In December, Bank of America repaid the $20-billion, plus the initial $25-billion it received in government bailout money.
Mr. Lewis stepped down as CEO from Bank of America on Dec. 31 after almost a year of strife that followed the bank's purchase of Merrill Lynch. Mr. Price became head of the bank's consumer banking division, taking over for Brian Moynihan, who succeeded Mr. Lewis as CEO on Jan. 1.
Mr. Moynihan is not under investigation.
Monday, February 8, 2010
A New Sherriff by Richard Crenian
Richard Crenian Blogs
February 8, 2010
The Sherriff of Wall Street
Wow, the Globe reported a story from the Associated Press that former CEO of Bank of America Ken Lewis misled investors about Merrill Lynch before B of A acquired it.
Lovely. Imagine being misled by Wall Street. Who would have thunk.
Bottom line the story is that B of A knew that the losses at Merrill were larger than anticipated but they chose not to tell investors. A Bank doing what? To whom?
Yes those mutual fund cos that bought into B of A and thought they were going great guns. What was the problem anyhow? The Bank had to report full disclosure, right?
Wrong. So here we are that the AG’s (Attorney General’s office) is charging them, and we also learn that B o A were trying to resolve the matters with the SEC as well. (Of course since the SEC was to regulate Bank of America as well.)
Anyhow, Howard and I like investing in what we control. Simple retail shopping centers. It is what it is.
I don’t have to worry about our investments, we have professionals we deal with and life is good. We are not in the get rich quick scheme of things. Just slow and steady. Just imagine, how big your savings would be today if you started investing and saving since day 1. Assuming of course you were choosing safe investments, and not gambling on the stock market.
Call Howard at 4036304544, or email him at howardmanley@shaw.ca to discuss strategies, or write me at richardc@redevgroup.ca.
Thanks for reading.
Article attached from the Globe below.
Richard Crenian
www.redevgroup.com
From the Globe website
Stephen Bernard and Ieva M. Augstums
New York — The Associated Press
Published on Thursday, Feb. 04, 2010 11:44AM EST
Last updated on Thursday, Feb. 04, 2010 1:54PM EST
.The New York Attorney General's office said Thursday it filed civil fraud charges against Bank of America Corp. (BAC-N14.90-0.63-4.06%) and its former chief executive officer Ken Lewis, saying the bank misled investors about Merrill Lynch before it acquired the Wall Street bank in early 2009.
Civil charges were also being filed against Joe Price, the bank's former chief financial officer.
At the same time Attorney General Andrew Cuomo's office was filing its civil charges, the U.S. Securities and Exchange Commission reached a settlement to resolve separate federal charges it brought against Bank of America over similar issues. It is the second time the SEC and Bank of America have tried to settle the case.
Bank of America has been accused of failing to properly disclose losses at Merrill and bonuses paid to investment bank employees before the deal closed. Mr. Cuomo called Bank of America's actions “egregious and reprehensible” in deceiving not only shareholders, but also the federal government.
The bank received an additional $20-billion (U.S.) in government bailout funds in January, 2009, to help offset losses it absorbed as part of the Merrill Lynch acquisition. In December, Bank of America repaid the $20-billion, plus the initial $25-billion it received in government bailout money.
Mr. Lewis stepped down as CEO from Bank of America on Dec. 31 after almost a year of strife that followed the bank's purchase of Merrill Lynch. Mr. Price became head of the bank's consumer banking division, taking over for Brian Moynihan, who succeeded Mr. Lewis as CEO on Jan. 1.
Mr. Moynihan is not under investigation.
February 8, 2010
The Sherriff of Wall Street
Wow, the Globe reported a story from the Associated Press that former CEO of Bank of America Ken Lewis misled investors about Merrill Lynch before B of A acquired it.
Lovely. Imagine being misled by Wall Street. Who would have thunk.
Bottom line the story is that B of A knew that the losses at Merrill were larger than anticipated but they chose not to tell investors. A Bank doing what? To whom?
Yes those mutual fund cos that bought into B of A and thought they were going great guns. What was the problem anyhow? The Bank had to report full disclosure, right?
Wrong. So here we are that the AG’s (Attorney General’s office) is charging them, and we also learn that B o A were trying to resolve the matters with the SEC as well. (Of course since the SEC was to regulate Bank of America as well.)
Anyhow, Howard and I like investing in what we control. Simple retail shopping centers. It is what it is.
I don’t have to worry about our investments, we have professionals we deal with and life is good. We are not in the get rich quick scheme of things. Just slow and steady. Just imagine, how big your savings would be today if you started investing and saving since day 1. Assuming of course you were choosing safe investments, and not gambling on the stock market.
Call Howard at 4036304544, or email him at howardmanley@shaw.ca to discuss strategies, or write me at richardc@redevgroup.ca.
Thanks for reading.
Article attached from the Globe below.
Richard Crenian
www.redevgroup.com
From the Globe website
Stephen Bernard and Ieva M. Augstums
New York — The Associated Press
Published on Thursday, Feb. 04, 2010 11:44AM EST
Last updated on Thursday, Feb. 04, 2010 1:54PM EST
.The New York Attorney General's office said Thursday it filed civil fraud charges against Bank of America Corp. (BAC-N14.90-0.63-4.06%) and its former chief executive officer Ken Lewis, saying the bank misled investors about Merrill Lynch before it acquired the Wall Street bank in early 2009.
Civil charges were also being filed against Joe Price, the bank's former chief financial officer.
At the same time Attorney General Andrew Cuomo's office was filing its civil charges, the U.S. Securities and Exchange Commission reached a settlement to resolve separate federal charges it brought against Bank of America over similar issues. It is the second time the SEC and Bank of America have tried to settle the case.
Bank of America has been accused of failing to properly disclose losses at Merrill and bonuses paid to investment bank employees before the deal closed. Mr. Cuomo called Bank of America's actions “egregious and reprehensible” in deceiving not only shareholders, but also the federal government.
The bank received an additional $20-billion (U.S.) in government bailout funds in January, 2009, to help offset losses it absorbed as part of the Merrill Lynch acquisition. In December, Bank of America repaid the $20-billion, plus the initial $25-billion it received in government bailout money.
Mr. Lewis stepped down as CEO from Bank of America on Dec. 31 after almost a year of strife that followed the bank's purchase of Merrill Lynch. Mr. Price became head of the bank's consumer banking division, taking over for Brian Moynihan, who succeeded Mr. Lewis as CEO on Jan. 1.
Mr. Moynihan is not under investigation.
Friday, February 5, 2010
Everyone is an Expert? by Richard Crenian
Is it time to change your investments advisor?
Here's a transcript of my latest conversation with our media consultant this week.
Q: Richard, when does one know when it?s time to change their investments adviser?
Richard Crenian: You know, sports and business are so intertwined. I live in Toronto and one of our offices is in Calgary. Yesterday at around noonish in Toronto, the Toronto Maple Leafs hockey team announced that it was trading a bunch of players to Calgary and Calgary was trading a bunch of players to Toronto, with the idea that it would shake up the team. What happens is, by trading off players and bringing in new players, it sometimes brings new blood into the team, so that the teams have a different approach, a winning approach to playing the game and winning also brings about one important thing, is that the clubs make money. So ideally if sports is business and clubs are there to make money, they?re there wanting to shake up staff to allow themselves to win and make money.
While it?s funny that we don?t realize the kind of approach we have towards our investment advisors. Because they are stockbrokers, we?ve gone through the whole gamut where we?ve lost a bunch of money and now the mutual funds where a lot of people are invested in have started creeping back but not quite to the levels that we lost those big numbers at. So everybody sings the same tune, everybody tells the same thing. What is it about that one special adviser that you need to listen to or go to and every time you sit down with your investment adviser, they tell you the same story that six hundred other advisors tell you about. And the thing is you are always looking for a winner because the investment adviser is giving you advice today isn?t making you money. He is not the guy risking his own money and so if he gives you bad advice, a wrong advice or market advice or some advice that his economists or his staff has told him to give you, then, then maybe it?s time you should be looking at a new investment adviser, someone that will be able to give you different kinds of products. You know if you are only used to stocks and bonds and mutual funds, and there?s an opportunity for you to diversify. You?re a stockbroker there sitting there isn?t telling you to go buy this other product cause he is not making commission doing so.
Anybody can be an investment adviser today. Everybody says that "I am an expert at this", "I?m an expert at that", when in reality they are an expert at making money for themselves. What about making money for you as a client? If you?re really bogged down with the same story that you hear, you read every paper and you hear the same story and you?re tired of it, it?s time to look for somebody new.
Economists. I had a breakfast with the economists that works for a big investment adviser, a wealthy investment company in Toronto one day, and they were telling me that a, a story and I turned around and I said, ?Listen, I appreciate what you?re saying, how you?ve framed the economy, where it?s going and stuff. What products are you selling today?? So he was telling me what kinds of products he was selling and his conversation of what he told me was framed completely to sell his product. So a lot of times when you hear an investment adviser who is giving you advice, it?s because they have hired guns on staff to give you advice to buy their product.
Here it is, here is the rent roll. We say here?s what you look at, here?s the cash flow you can expect to get and you know, you can expect to get it. We, we tell you the good, the bad and the ugly. If everything goes well, this would be the your returns, if it doesn?t go well, we can tell you. We?ll tell you too. We don?t like to tell you bad news, if a tenant leaves or whatever, but that?s the reality of the day. We?ll replace, we?ll replace the tenant. Sometimes it takes longer, sometimes it doesn?t take as long but you know I think, you need to have somebody telling you the good, the bad, the ugly. We?ve got nothing to hide. So if your investment adviser telling you that everything is great, everything is better, buy gold, buy silver or buy everything else, find out what products they are selling. And if they are selling the products they are harping about, that?s the time you change investment advisers.
Meanwhile, go to our website and you?ll be able to see the products we are selling and you make up your own mind. If you think we are selling good products, come buy from us. If you think we are selling junk, don?t even bother calling us cause, you know what, we don?t want to be there, if, if you think we are selling junk. We just want to be able to sit down and have a heart to heart talk to you. We?ll explain to you our position and if it sounds like we are making sense, come talk to us. If it doesn?t then you know what, no worries at all. We understand and we?ll both carry on.
Call Howard at 4036304544 or email him at howardmanley@shaw.ca, or write me if you have any thoughts you would like to share.
Thank you for reading.
Richard Crenian
www.redevgroup.com
richardc@redevgroup.ca
Here's a transcript of my latest conversation with our media consultant this week.
Q: Richard, when does one know when it?s time to change their investments adviser?
Richard Crenian: You know, sports and business are so intertwined. I live in Toronto and one of our offices is in Calgary. Yesterday at around noonish in Toronto, the Toronto Maple Leafs hockey team announced that it was trading a bunch of players to Calgary and Calgary was trading a bunch of players to Toronto, with the idea that it would shake up the team. What happens is, by trading off players and bringing in new players, it sometimes brings new blood into the team, so that the teams have a different approach, a winning approach to playing the game and winning also brings about one important thing, is that the clubs make money. So ideally if sports is business and clubs are there to make money, they?re there wanting to shake up staff to allow themselves to win and make money.
While it?s funny that we don?t realize the kind of approach we have towards our investment advisors. Because they are stockbrokers, we?ve gone through the whole gamut where we?ve lost a bunch of money and now the mutual funds where a lot of people are invested in have started creeping back but not quite to the levels that we lost those big numbers at. So everybody sings the same tune, everybody tells the same thing. What is it about that one special adviser that you need to listen to or go to and every time you sit down with your investment adviser, they tell you the same story that six hundred other advisors tell you about. And the thing is you are always looking for a winner because the investment adviser is giving you advice today isn?t making you money. He is not the guy risking his own money and so if he gives you bad advice, a wrong advice or market advice or some advice that his economists or his staff has told him to give you, then, then maybe it?s time you should be looking at a new investment adviser, someone that will be able to give you different kinds of products. You know if you are only used to stocks and bonds and mutual funds, and there?s an opportunity for you to diversify. You?re a stockbroker there sitting there isn?t telling you to go buy this other product cause he is not making commission doing so.
Anybody can be an investment adviser today. Everybody says that "I am an expert at this", "I?m an expert at that", when in reality they are an expert at making money for themselves. What about making money for you as a client? If you?re really bogged down with the same story that you hear, you read every paper and you hear the same story and you?re tired of it, it?s time to look for somebody new.
Economists. I had a breakfast with the economists that works for a big investment adviser, a wealthy investment company in Toronto one day, and they were telling me that a, a story and I turned around and I said, ?Listen, I appreciate what you?re saying, how you?ve framed the economy, where it?s going and stuff. What products are you selling today?? So he was telling me what kinds of products he was selling and his conversation of what he told me was framed completely to sell his product. So a lot of times when you hear an investment adviser who is giving you advice, it?s because they have hired guns on staff to give you advice to buy their product.
Here it is, here is the rent roll. We say here?s what you look at, here?s the cash flow you can expect to get and you know, you can expect to get it. We, we tell you the good, the bad and the ugly. If everything goes well, this would be the your returns, if it doesn?t go well, we can tell you. We?ll tell you too. We don?t like to tell you bad news, if a tenant leaves or whatever, but that?s the reality of the day. We?ll replace, we?ll replace the tenant. Sometimes it takes longer, sometimes it doesn?t take as long but you know I think, you need to have somebody telling you the good, the bad, the ugly. We?ve got nothing to hide. So if your investment adviser telling you that everything is great, everything is better, buy gold, buy silver or buy everything else, find out what products they are selling. And if they are selling the products they are harping about, that?s the time you change investment advisers.
Meanwhile, go to our website and you?ll be able to see the products we are selling and you make up your own mind. If you think we are selling good products, come buy from us. If you think we are selling junk, don?t even bother calling us cause, you know what, we don?t want to be there, if, if you think we are selling junk. We just want to be able to sit down and have a heart to heart talk to you. We?ll explain to you our position and if it sounds like we are making sense, come talk to us. If it doesn?t then you know what, no worries at all. We understand and we?ll both carry on.
Call Howard at 4036304544 or email him at howardmanley@shaw.ca, or write me if you have any thoughts you would like to share.
Thank you for reading.
Richard Crenian
www.redevgroup.com
richardc@redevgroup.ca
Tuesday, May 5, 2009
"Howard Manley" by Richard Crenian
Richard Crenian Blogs
May 3, 2009
“My Partner Howard!”
You all know that my business partner, Howard Manley, is a Saskatchewan native born and bred; He was born in a little town called Midale, just outside of Weyburn, in the South Eastern part of the province. Howard is a great guy- let me tell you how.
I always stress family and It is unbelievable to me that Pat, his wife and Howard are now married for 43 years!! That is a long time. He has three adult children and three grandchildren which he never stops talking about. The two older grand kids, are both boys, and Howard refers to them as his boys.
His little baby granddaughter, is referred to as “my little girl!” You could not have anyone as proud of his kids and grandkids as Grandpa Howard.
Howard and I go back since December 1976. That is a long time! He is my mentor and was my big brother that I never had. He was the most hardworking guy, yet full of fun and spirit in everyway. Leon, who works with us, another great guy, grew up with Howard in Midale. How small is this world. Leon would like to believe that he is retired, (no you are not Leon) and was another guy that worked hard all his life.
These two gentlemen are the picture of what a dictionary call hard work, honesty and caring people I know. Why, they still call their wives Ma’am! (Ok so I am only kidding about that part!) Respectful and full of ethics, their have great families and enjoy life to the fullest. Aren’t those men successful in their own right? Call Howard and ask him what his philosophy to a good life is……? 403-630 4544. He would be happy to share.
Richard Crenian
May 3, 2009
“My Partner Howard!”
You all know that my business partner, Howard Manley, is a Saskatchewan native born and bred; He was born in a little town called Midale, just outside of Weyburn, in the South Eastern part of the province. Howard is a great guy- let me tell you how.
I always stress family and It is unbelievable to me that Pat, his wife and Howard are now married for 43 years!! That is a long time. He has three adult children and three grandchildren which he never stops talking about. The two older grand kids, are both boys, and Howard refers to them as his boys.
His little baby granddaughter, is referred to as “my little girl!” You could not have anyone as proud of his kids and grandkids as Grandpa Howard.
Howard and I go back since December 1976. That is a long time! He is my mentor and was my big brother that I never had. He was the most hardworking guy, yet full of fun and spirit in everyway. Leon, who works with us, another great guy, grew up with Howard in Midale. How small is this world. Leon would like to believe that he is retired, (no you are not Leon) and was another guy that worked hard all his life.
These two gentlemen are the picture of what a dictionary call hard work, honesty and caring people I know. Why, they still call their wives Ma’am! (Ok so I am only kidding about that part!) Respectful and full of ethics, their have great families and enjoy life to the fullest. Aren’t those men successful in their own right? Call Howard and ask him what his philosophy to a good life is……? 403-630 4544. He would be happy to share.
Richard Crenian
"Instant Success!" by Richard Crenian
Richard Crenian Blogs
May 5, 2009
“Instant Success”
It is always unusual when people look at other people who are successful are call them Instant Successes! I am always amazed by this quick rush to judgment.
My definition of instant success is “Years of Hard Work and Tears of Experience!”
We know how hard it is for us and long it takes to be successful.
What is success….ahhh that is another definition.
To me a success is a person that is a good and kind human being. Nothing short of that.
Everyone that you read about always associates people with money as successful. They could be the biggest donkeys, but because they have what other people define as money they are great guys.
Not true. I would rather hang with guys that are black and white, and tell it like it is than jerks that think that their pooh poohs don’t stink even though they do! Who would you like to hang out with? Who would you like your kids to be friends with?
It is so great to see my friends that are salt of the earth, and good human beings. Their families are the same with good intent and based on loving, hardwork ethics that will survive them the test of time.
Howard my partner has taught me lots. He is that kind of person. He is hard working, a great family man, and been fortunate in business. He believes, like me in the slow and steady safety of investment, so that his kids and family can be taken of. Call Howard and ask him how he does it. 403-630-4544.
Richard Crenian
May 5, 2009
“Instant Success”
It is always unusual when people look at other people who are successful are call them Instant Successes! I am always amazed by this quick rush to judgment.
My definition of instant success is “Years of Hard Work and Tears of Experience!”
We know how hard it is for us and long it takes to be successful.
What is success….ahhh that is another definition.
To me a success is a person that is a good and kind human being. Nothing short of that.
Everyone that you read about always associates people with money as successful. They could be the biggest donkeys, but because they have what other people define as money they are great guys.
Not true. I would rather hang with guys that are black and white, and tell it like it is than jerks that think that their pooh poohs don’t stink even though they do! Who would you like to hang out with? Who would you like your kids to be friends with?
It is so great to see my friends that are salt of the earth, and good human beings. Their families are the same with good intent and based on loving, hardwork ethics that will survive them the test of time.
Howard my partner has taught me lots. He is that kind of person. He is hard working, a great family man, and been fortunate in business. He believes, like me in the slow and steady safety of investment, so that his kids and family can be taken of. Call Howard and ask him how he does it. 403-630-4544.
Richard Crenian
Sunday, May 3, 2009
"Garnet and Gordon Campbell" by Richard Crenian
Richard Crenian Blogs
May 3, 2009
“Garnet and Gordon Campbell-Canadian Heroes”
Canadian Men’s Brier Curling Champions, 1955.
Lloyd Campbell (lead), Donald Campbell (third), Glen Campbell (second), Garnet Campbell, (skip).
Amazing story, it was famed that Garnet and his brothers, learned their trade in a barn frozen likened to an ice rink. We shall keep that folklore alive I am sure.
Garnet and Gordon farmed together in the Avonlea area, Saskatchewan and Brother Lloyd farmed just west of Regina.
Garnet’s and Gordon’s father started that farm just south of Avonlea, Gordon still lives on the same site.
Garnet’s wife Daverne and Garnet are both doing well.
Garnet may be close to 80 these days. He and young and only wife Daverne, are doing well these days with kids, Vern in Calgary, married with kids and their daughter Cassandra, is busy with her Hair Styling shop in California!
Garnet and Daverne spend six months in a suburb NW Phoenix, during the winter escaping the cold weather of Saskatchewan.
Lloyd I heard has had 2 hip replacements and still a good golfer.
I was always impressed with this family. Such hard working, soil of the earth people who were long on honesty, integrity and represented the spirit of Canada as it always should be. I have been blessed to have had them enter my life and bestow upon me their goodness and laughter.
Hardwork, good fun, good humor and a great family. Shouldn’t they be recognized as heroes?
Howard my partner is also part of this group. He works hard for his money, and enjoys his life. Howard has a ton of stories. Ask him. 403-630-4544.
Richard Crenian
May 3, 2009
“Garnet and Gordon Campbell-Canadian Heroes”
Canadian Men’s Brier Curling Champions, 1955.
Lloyd Campbell (lead), Donald Campbell (third), Glen Campbell (second), Garnet Campbell, (skip).
Amazing story, it was famed that Garnet and his brothers, learned their trade in a barn frozen likened to an ice rink. We shall keep that folklore alive I am sure.
Garnet and Gordon farmed together in the Avonlea area, Saskatchewan and Brother Lloyd farmed just west of Regina.
Garnet’s and Gordon’s father started that farm just south of Avonlea, Gordon still lives on the same site.
Garnet’s wife Daverne and Garnet are both doing well.
Garnet may be close to 80 these days. He and young and only wife Daverne, are doing well these days with kids, Vern in Calgary, married with kids and their daughter Cassandra, is busy with her Hair Styling shop in California!
Garnet and Daverne spend six months in a suburb NW Phoenix, during the winter escaping the cold weather of Saskatchewan.
Lloyd I heard has had 2 hip replacements and still a good golfer.
I was always impressed with this family. Such hard working, soil of the earth people who were long on honesty, integrity and represented the spirit of Canada as it always should be. I have been blessed to have had them enter my life and bestow upon me their goodness and laughter.
Hardwork, good fun, good humor and a great family. Shouldn’t they be recognized as heroes?
Howard my partner is also part of this group. He works hard for his money, and enjoys his life. Howard has a ton of stories. Ask him. 403-630-4544.
Richard Crenian
Thursday, April 30, 2009
"Canadian Heroes!" by Richard Crenian
Richard Crenian Blogs
Apr. 30, 09
“A Canadian Hero!”
Too often we hear about heroes and what they accomplished in business.
We have heroes like Obama too, the most likely NOT to be President, and here he is 100 days later.
What about the Canadians?
Having going to high school in Swift Current, Saskatchewan, it would only seem fitting to call the Canadian Farmer Canadian Heroes.
Hardy, hardworking, honest and unwilling to call defeat, the Canadian Farmer has suffered much and only lately been given an opportunity to earn some monies.
Here is what they faced when they first came to Canada to toil the land:
“For many immigrants, life on the Prairies was more akin to a nightmare than a dream — a point underscored in the final section of the exhibition. When homesteaders first arrived, their "farms" usually consisted of virgin prairie, a survey stake and a swarm of mosquitoes. Once the land was broken, the bountiful crops promised in the advertisements were sometimes devoured by insects, ruined by frost or shrivelled by drought. Some immigrants faced discrimination and venomous insults; two newspapers quoted in the exhibition labelled immigrants as "the scum of other lands" or even "the refuse of civilization".
With the outbreak of the Great War in 1914, about 80,000 immigrants were declared "enemy aliens" under the War Measures Act and over 5,000 were sent to internment camps. The Golden Age of Prairie settlement had come to an end.
Chronologically, Acres of Dreams ends with the Great Depression — a supreme test of the settlers' mettle and ingenuity. Objects featured like a quilt fashioned from uniforms discarded by a baseball team in Moose Jaw or a violin made from packing crates and harness supplies illustrate the resourcefulness of settlers during this testing period of Canadian history.” http://www.civilization.ca/cmc/exhibitions/cmc/acres/acrese.shtml
At the end of the story their second and third generations made it. Families and farmland, the heartland of Canada. I am proud of those that I know, so many of them. Howard is a good farm boy from Midale (near Weyburn), Saskatchewan. He knows the value of a buck. Ask him how he invests…..403-630-4544.
Richard Crenian
Apr. 30, 09
“A Canadian Hero!”
Too often we hear about heroes and what they accomplished in business.
We have heroes like Obama too, the most likely NOT to be President, and here he is 100 days later.
What about the Canadians?
Having going to high school in Swift Current, Saskatchewan, it would only seem fitting to call the Canadian Farmer Canadian Heroes.
Hardy, hardworking, honest and unwilling to call defeat, the Canadian Farmer has suffered much and only lately been given an opportunity to earn some monies.
Here is what they faced when they first came to Canada to toil the land:
“For many immigrants, life on the Prairies was more akin to a nightmare than a dream — a point underscored in the final section of the exhibition. When homesteaders first arrived, their "farms" usually consisted of virgin prairie, a survey stake and a swarm of mosquitoes. Once the land was broken, the bountiful crops promised in the advertisements were sometimes devoured by insects, ruined by frost or shrivelled by drought. Some immigrants faced discrimination and venomous insults; two newspapers quoted in the exhibition labelled immigrants as "the scum of other lands" or even "the refuse of civilization".
With the outbreak of the Great War in 1914, about 80,000 immigrants were declared "enemy aliens" under the War Measures Act and over 5,000 were sent to internment camps. The Golden Age of Prairie settlement had come to an end.
Chronologically, Acres of Dreams ends with the Great Depression — a supreme test of the settlers' mettle and ingenuity. Objects featured like a quilt fashioned from uniforms discarded by a baseball team in Moose Jaw or a violin made from packing crates and harness supplies illustrate the resourcefulness of settlers during this testing period of Canadian history.” http://www.civilization.ca/cmc/exhibitions/cmc/acres/acrese.shtml
At the end of the story their second and third generations made it. Families and farmland, the heartland of Canada. I am proud of those that I know, so many of them. Howard is a good farm boy from Midale (near Weyburn), Saskatchewan. He knows the value of a buck. Ask him how he invests…..403-630-4544.
Richard Crenian
Tuesday, April 28, 2009
"The Smell of A New Car Interior!" by Richard Crenian
Richard Crenian Blogs
April 28, 2009
“The Smell of the New Car Interior!”
If you have been lucky enough to buy or lease a new car, you know what I mean. There is never quite like the smell of a new car interior.
When I was a kid, Uncle Mike and I used to work on older cars, and I was lucky enough to have owned some pretty hot cars, but none more than $400.00.
I had to borrow the money for that first car, but that beautiful 1966 Olds Cutlass was a beaut!
Although it was written off, (only a fender), the motor and and interior still looked good. While all the kids were partying, Uncle Mike and I worked on that beast, and bought used body parts to bring it up to sniff! Then a $99 Maaco paint job made that car smoke!!
So proud was I that I sold the beast for $600 and couldn’t believe that I made a profit from all that hard work!! The profit was small, after all expenses, but I was making $1.75 an hour so fifty dollars was like a billion to me.
Too bad that the majors didn’t take a lesson from a young boy. Instead of making a billion they are losing billions.
It really is sad.
Chrysler and why just a few months ago Kirk Kerkorian was trying to buy Ford. (See my previous blog below.) I guess as we retire, we need to make sure we have safe and secure investments. We used to say “ as strong as GM.”
That is no longer. Howard and his family grew up in Saskatchewan. They have been through the dirty thirties, He believes in slow and steady wins the race. Ask him what he does for investments? 403-630 4544.
Richard Crenian
Richard Crenian Blogs
January 8th -09
“Kirk what were ye thinking?”
I was reading about Kirk Kerkorian, the investor that made his billions in real estate in southern Nevada. His story is great and it’s always nice to read about someone that can overcome adversity and does it all himself. Not bad for a guy that didn’t speak English until he started school. Today he is rated at 41st richest man in the US although the new rankings haven’t come out yet.
http://www.1st100.com/part3/kerkorian.html
Today he is 91 years old and still has all the fire in the world to spirit him along.
So what has happened to Kirk as he is supposed to retire and enjoy all the fruits of his labor and his life? At 91 I hope to have his fire and drive but I would know better than to risk my money at 91.
Here is what happened.
Kirk decides he is going to buy shares of Ford. “Kerkorian's stake in Ford peaked in June, when he owned 6.49 percent after paying $1 billion at an average share price of $7.10. He began scaling back his ownership in October, selling shares at an average price of $2.43 each, according to regulatory filings. That marked a loss of about two-thirds of his investment, or roughly $650 million.” (from the Huffington Post).
Kirk when I am 91, I am going golfing with Howard and investing in cash flow real estate where you made your money first!! What’s the matter with you? What were ye thinking??
Richard Crenian
April 28, 2009
“The Smell of the New Car Interior!”
If you have been lucky enough to buy or lease a new car, you know what I mean. There is never quite like the smell of a new car interior.
When I was a kid, Uncle Mike and I used to work on older cars, and I was lucky enough to have owned some pretty hot cars, but none more than $400.00.
I had to borrow the money for that first car, but that beautiful 1966 Olds Cutlass was a beaut!
Although it was written off, (only a fender), the motor and and interior still looked good. While all the kids were partying, Uncle Mike and I worked on that beast, and bought used body parts to bring it up to sniff! Then a $99 Maaco paint job made that car smoke!!
So proud was I that I sold the beast for $600 and couldn’t believe that I made a profit from all that hard work!! The profit was small, after all expenses, but I was making $1.75 an hour so fifty dollars was like a billion to me.
Too bad that the majors didn’t take a lesson from a young boy. Instead of making a billion they are losing billions.
It really is sad.
Chrysler and why just a few months ago Kirk Kerkorian was trying to buy Ford. (See my previous blog below.) I guess as we retire, we need to make sure we have safe and secure investments. We used to say “ as strong as GM.”
That is no longer. Howard and his family grew up in Saskatchewan. They have been through the dirty thirties, He believes in slow and steady wins the race. Ask him what he does for investments? 403-630 4544.
Richard Crenian
Richard Crenian Blogs
January 8th -09
“Kirk what were ye thinking?”
I was reading about Kirk Kerkorian, the investor that made his billions in real estate in southern Nevada. His story is great and it’s always nice to read about someone that can overcome adversity and does it all himself. Not bad for a guy that didn’t speak English until he started school. Today he is rated at 41st richest man in the US although the new rankings haven’t come out yet.
http://www.1st100.com/part3/kerkorian.html
Today he is 91 years old and still has all the fire in the world to spirit him along.
So what has happened to Kirk as he is supposed to retire and enjoy all the fruits of his labor and his life? At 91 I hope to have his fire and drive but I would know better than to risk my money at 91.
Here is what happened.
Kirk decides he is going to buy shares of Ford. “Kerkorian's stake in Ford peaked in June, when he owned 6.49 percent after paying $1 billion at an average share price of $7.10. He began scaling back his ownership in October, selling shares at an average price of $2.43 each, according to regulatory filings. That marked a loss of about two-thirds of his investment, or roughly $650 million.” (from the Huffington Post).
Kirk when I am 91, I am going golfing with Howard and investing in cash flow real estate where you made your money first!! What’s the matter with you? What were ye thinking??
Richard Crenian
Monday, April 27, 2009
"What, Me Worry Again?" by Richard Crenian
Richard Crenian Blogs
“What I Worry About!”
April 27, 2009
I really worry what happens when this market does turn around. Does that mean you will have forgotten all about your worries and pains, and start investing in mutual funds, equities and in the stock markets?
How did you end off before the famous crash took a bunch of your money (and mine) down with it? Why is it at the end of the RRSP season the mutual fund industry did so well?
Did we forget? Someone gave them their money? I was reading today that the China market is starting to warm up to IPO’s and I cannot for the life understand that.
Me, or I don’t worry about the ups and downs of the real estate market. I just worry about cash flow. You will drive yourself totally crazy if you think of what values are day to day.
Is your investment safe and secure? Are you getting cash or can get cash flow from your projects?
Even though in commercial real estate you get tenants in and out, so long as long term you are out of the woods. Real estate commercial cash flow investing is for people with a long term view. If you want heart attack, intensity and full out action go for the stock market. If you want peace and quiet, check out Howard at 4036304544. He doesn’t care what happens. He’s happy with all of our investments and some do well some could do better, but so what he says? He doesn’t have to worry about the long term. He is patient and knows that his money is safe.
Isn’t that the type of investments you want?
PS Just read that financier Danny Pang just ripped off investors to the tune of 4 Billion dollars! Another Ponzi.
Call Howard, no worries!
Richard Crenian
“What I Worry About!”
April 27, 2009
I really worry what happens when this market does turn around. Does that mean you will have forgotten all about your worries and pains, and start investing in mutual funds, equities and in the stock markets?
How did you end off before the famous crash took a bunch of your money (and mine) down with it? Why is it at the end of the RRSP season the mutual fund industry did so well?
Did we forget? Someone gave them their money? I was reading today that the China market is starting to warm up to IPO’s and I cannot for the life understand that.
Me, or I don’t worry about the ups and downs of the real estate market. I just worry about cash flow. You will drive yourself totally crazy if you think of what values are day to day.
Is your investment safe and secure? Are you getting cash or can get cash flow from your projects?
Even though in commercial real estate you get tenants in and out, so long as long term you are out of the woods. Real estate commercial cash flow investing is for people with a long term view. If you want heart attack, intensity and full out action go for the stock market. If you want peace and quiet, check out Howard at 4036304544. He doesn’t care what happens. He’s happy with all of our investments and some do well some could do better, but so what he says? He doesn’t have to worry about the long term. He is patient and knows that his money is safe.
Isn’t that the type of investments you want?
PS Just read that financier Danny Pang just ripped off investors to the tune of 4 Billion dollars! Another Ponzi.
Call Howard, no worries!
Richard Crenian
Wednesday, April 15, 2009
"And the Headlines Read....Mutual Funds Gain!" by Richard Crenian
Richard Crenian Blogs
April 15, 2009
And the Headlines Read….Mutual Funds Gain….”
From the Globe and Mail……
http://business.theglobeandmail.com/servlet/story/RTGAM.20090415.wific0415/CommentStory/Business/home#comment3428101
Thinkingman FromCanada from Canada writes: During rrsp season my wife saw an ad for mutual funds. She said 'How can they be advertising after they lost so much money for people'. I never have and never will buy mutual funds. Too many crooks in the stock market. Now we have the evidence of this.
With empathy. Kevin.
Donald Duck from richmond, bc, Canada writes:
Yeah right !! See u in another 5 years when another scoundrel like Bernie Madoff steps in and wipes the slate clean.
The author, Shirley Won in the Globe and Mail today wrote, “the RRSP season ended on an upbeat note for the Canadian fund industry as investors plowed $3.4-billion into its investments amid the worst market turmoil in decades.”
What do you think?
Kevin’s wife is pretty smart. You lose 38% and you still put your money in.
What will it take for you to believe that there are other ways to be safe and secure?
It is unbelievable how many people get sucked in by slick promotion gimmicks etc. What’s that about. I say the slicker the presentation the higher the chance you will lose. So who knows?
Howard my partner knows, Call him at 4036304544. If you want black or white, you don’t have to go far. Speak to him.
Richard Crenian
April 15, 2009
And the Headlines Read….Mutual Funds Gain….”
From the Globe and Mail……
http://business.theglobeandmail.com/servlet/story/RTGAM.20090415.wific0415/CommentStory/Business/home#comment3428101
Thinkingman FromCanada from Canada writes: During rrsp season my wife saw an ad for mutual funds. She said 'How can they be advertising after they lost so much money for people'. I never have and never will buy mutual funds. Too many crooks in the stock market. Now we have the evidence of this.
With empathy. Kevin.
Donald Duck from richmond, bc, Canada writes:
Yeah right !! See u in another 5 years when another scoundrel like Bernie Madoff steps in and wipes the slate clean.
The author, Shirley Won in the Globe and Mail today wrote, “the RRSP season ended on an upbeat note for the Canadian fund industry as investors plowed $3.4-billion into its investments amid the worst market turmoil in decades.”
What do you think?
Kevin’s wife is pretty smart. You lose 38% and you still put your money in.
What will it take for you to believe that there are other ways to be safe and secure?
It is unbelievable how many people get sucked in by slick promotion gimmicks etc. What’s that about. I say the slicker the presentation the higher the chance you will lose. So who knows?
Howard my partner knows, Call him at 4036304544. If you want black or white, you don’t have to go far. Speak to him.
Richard Crenian
Thursday, April 2, 2009
"The New Asian Thinking?" by Richard Crenian
Richard Crenian Blogs
April 2-09
“The New Asian Thinking?”
Our Business Partner in Asia, Darwin Forer, who is from Avonlea, Saskatchewan (Home of the world famous 1955 curling champions, The Campbell Brothers), has been living in Asia in what seems to be forever.
He and his wife live in Hong Kong, with their two young ones. Mui, Darwin’s wife is from Thailand and the nicest lady you would want to meet.
Recently Darwin emailed me about what the South East Asians are investing in and what they invested in previously..........
“- Tree farming the buzz this quarter.
-Former "oil pods" manager (it collapsed as was a ponzi scheme) is now selling Vietnam property that appears to be cheap to S.E. Asians who seem to forget it is still communist there.
- Salespeople helping “friends" sell houses located in another country
I attended the SMART property expo today; of course Land Banking companies selling, but mostly resort property around Asia, also now Cayman Island land banking. And several motivational speakers, self help etc and several running around selling weight loss programs.”
It is amazing for me to see, when the S.E. Asians, one of the smartest and most intellectual people in the world, with such a keen sense of business acumen, can fall prey to greedy and unscrupulous promoters and hucksters. Their aggressive thinking and “the chase for big returns” may skew their thinking.
Yet, Asian Government Pensions Plans invest with a long view in mind.
Howard my Canadian partner lives right. He says to enjoy the investment he plays by these rules…….1. Does it provide cash flow? 2. Is it safe and stable? And 3. Is it operated by knowledgeable people? If the answer is yes he does it.
In his younger days did he go for riskier deals? Yes! Has he been burned? Yes.
He says he is too old to lose any money these days. Besides he says that it is for his kids and grandkids! He just needs a little money to eat and buy gas!
Call him in Tucson, he’s still golfing!! 4036304544.
Richard Crenian
April 2-09
“The New Asian Thinking?”
Our Business Partner in Asia, Darwin Forer, who is from Avonlea, Saskatchewan (Home of the world famous 1955 curling champions, The Campbell Brothers), has been living in Asia in what seems to be forever.
He and his wife live in Hong Kong, with their two young ones. Mui, Darwin’s wife is from Thailand and the nicest lady you would want to meet.
Recently Darwin emailed me about what the South East Asians are investing in and what they invested in previously..........
“- Tree farming the buzz this quarter.
-Former "oil pods" manager (it collapsed as was a ponzi scheme) is now selling Vietnam property that appears to be cheap to S.E. Asians who seem to forget it is still communist there.
- Salespeople helping “friends" sell houses located in another country
I attended the SMART property expo today; of course Land Banking companies selling, but mostly resort property around Asia, also now Cayman Island land banking. And several motivational speakers, self help etc and several running around selling weight loss programs.”
It is amazing for me to see, when the S.E. Asians, one of the smartest and most intellectual people in the world, with such a keen sense of business acumen, can fall prey to greedy and unscrupulous promoters and hucksters. Their aggressive thinking and “the chase for big returns” may skew their thinking.
Yet, Asian Government Pensions Plans invest with a long view in mind.
Howard my Canadian partner lives right. He says to enjoy the investment he plays by these rules…….1. Does it provide cash flow? 2. Is it safe and stable? And 3. Is it operated by knowledgeable people? If the answer is yes he does it.
In his younger days did he go for riskier deals? Yes! Has he been burned? Yes.
He says he is too old to lose any money these days. Besides he says that it is for his kids and grandkids! He just needs a little money to eat and buy gas!
Call him in Tucson, he’s still golfing!! 4036304544.
Richard Crenian
Sunday, March 29, 2009
"Gene says!" Richard Crenian Blogs
Richard Crenian Blogs
“Gene says...............”
March-29-09
Well, well it seems like the bad boy of Rock n Roll is out to teach us Canadians a thing or now. From the Globe and Mail link today:
http://business.theglobeandmail.com/servlet/story/RTGAM.20090326.rmfive0326/BNStory/specialROBmagazine/home
Gene was asked and Gene replied,
“ You're a pretty rich guy—what's your take on the American economy?” asked the reporter to Gene.
Gene: “It's in a whirl. This is a great opportunity for you to stop spending stupid money, stop smoking, stop drinking, stop ruining your health and paying for the privilege, take all that money, all the stupid money, and buy. But don't buy stupid stuff. Buy real estate. Buy important things. It's the best time—the price is low.”
Gene we get the buy low and sell high concept (I hope). I like what you about taking care of yourself, not spending foolishly, and quit feeling like we are all entitled. (I think you get your business acumen from your Canadian “wife”, Shannon Tweed.........)
The real estate that you buy Gene should be geared towards well located, well tenanted cash flow commercial real estate as opposed to buying Land, Individual Lots, or even houses, as cheap as they seem to be now. The issue is negative cash flow. For instance when you buy a house, tenanted or not you still have to pay for all your maintenance, property taxes, etc and some times the rent doesn’t cover the mortgage payment (if you have one) let alone the property taxes.
Land is an investment so long as you have the time to bear, and a promoter that doesn’t rip you off, with them making the $ and ensuring that you don’t in the near future. What about cash flow from your land? Unless it is being farmed or rented out my guess is you are in negative cash flow as you need to pay your developer’s fees and the property taxes.
So what’s left? Buy some commercial property, have the tenants pay for everything, keep the net rents after mortgage payment, and enjoy the cash flow. Ask Howard, how he manages to spend time away from the office? Cash Flow, what else? Call Howard now and ask how him how he is doing today! 4036304544........., “rock n rolling all night and partying every day!”
Richard Crenian
“Gene says...............”
March-29-09
Well, well it seems like the bad boy of Rock n Roll is out to teach us Canadians a thing or now. From the Globe and Mail link today:
http://business.theglobeandmail.com/servlet/story/RTGAM.20090326.rmfive0326/BNStory/specialROBmagazine/home
Gene was asked and Gene replied,
“ You're a pretty rich guy—what's your take on the American economy?” asked the reporter to Gene.
Gene: “It's in a whirl. This is a great opportunity for you to stop spending stupid money, stop smoking, stop drinking, stop ruining your health and paying for the privilege, take all that money, all the stupid money, and buy. But don't buy stupid stuff. Buy real estate. Buy important things. It's the best time—the price is low.”
Gene we get the buy low and sell high concept (I hope). I like what you about taking care of yourself, not spending foolishly, and quit feeling like we are all entitled. (I think you get your business acumen from your Canadian “wife”, Shannon Tweed.........)
The real estate that you buy Gene should be geared towards well located, well tenanted cash flow commercial real estate as opposed to buying Land, Individual Lots, or even houses, as cheap as they seem to be now. The issue is negative cash flow. For instance when you buy a house, tenanted or not you still have to pay for all your maintenance, property taxes, etc and some times the rent doesn’t cover the mortgage payment (if you have one) let alone the property taxes.
Land is an investment so long as you have the time to bear, and a promoter that doesn’t rip you off, with them making the $ and ensuring that you don’t in the near future. What about cash flow from your land? Unless it is being farmed or rented out my guess is you are in negative cash flow as you need to pay your developer’s fees and the property taxes.
So what’s left? Buy some commercial property, have the tenants pay for everything, keep the net rents after mortgage payment, and enjoy the cash flow. Ask Howard, how he manages to spend time away from the office? Cash Flow, what else? Call Howard now and ask how him how he is doing today! 4036304544........., “rock n rolling all night and partying every day!”
Richard Crenian
Monday, March 23, 2009
"Turn Off that TV and Start Living! Updated...." by Richard Crenian
Richard Crenian blogs
March 23, 2009
“Turn off that TV, and start living!!” Updated…..!!
Here is a blog I wrote on October 24-08……………and here is what I added since Oct 24th…….
What has happened since then:
1. Dow Jones close on that day (Oct 24th 2008) was 8378, (DJ was 7775 at today’s close Mar 23-09!)
2. Obama wasn’t President
3. We thought that 8378 DJ was the end of the world!!
So read up below!
Oct 24th, 2008
So you are listening to that doom and gloom and all that recessionary-speak has put you in a depression!
So what do you do?
Turn off that TV and start living!!
We live in a great country, where people care for each other, our social system is great, and guess what, every day above ground is a great day!
Ok so your land deals are going to take twenty years to get out of, (ok, so the kids will get to live it up!), your condo and apartment deals will take a while to get back to where it should be and your home price is probably still worth more than what you paid for it..!
Your cash flow investments will still be going well, the values of those investments haven’t gone down, and if you were lucky enough to have bought in Alberta your rents are still going up!
Look around there are many opportunities along the way. Open your eyes and look for them, they are there.
So like my partner Howard says, “Why so glum, chum?” Phone me and I will tell you a joke or two, 4036304544!!
Go for a walk, enjoy the fresh air and be glad we can walk, and breathe!
Have that TV turned to the sports channel or anything but the news! Stay tuned!!!
By Richard Crenian
March 23, 2009
“Turn off that TV, and start living!!” Updated…..!!
Here is a blog I wrote on October 24-08……………and here is what I added since Oct 24th…….
What has happened since then:
1. Dow Jones close on that day (Oct 24th 2008) was 8378, (DJ was 7775 at today’s close Mar 23-09!)
2. Obama wasn’t President
3. We thought that 8378 DJ was the end of the world!!
So read up below!
Oct 24th, 2008
So you are listening to that doom and gloom and all that recessionary-speak has put you in a depression!
So what do you do?
Turn off that TV and start living!!
We live in a great country, where people care for each other, our social system is great, and guess what, every day above ground is a great day!
Ok so your land deals are going to take twenty years to get out of, (ok, so the kids will get to live it up!), your condo and apartment deals will take a while to get back to where it should be and your home price is probably still worth more than what you paid for it..!
Your cash flow investments will still be going well, the values of those investments haven’t gone down, and if you were lucky enough to have bought in Alberta your rents are still going up!
Look around there are many opportunities along the way. Open your eyes and look for them, they are there.
So like my partner Howard says, “Why so glum, chum?” Phone me and I will tell you a joke or two, 4036304544!!
Go for a walk, enjoy the fresh air and be glad we can walk, and breathe!
Have that TV turned to the sports channel or anything but the news! Stay tuned!!!
By Richard Crenian
Thursday, March 19, 2009
"It's Vegas, Baby ! (Update!)' by Richard Crenian
It’s Vegas, Baby (Update)
By Richard Crenian
March 19, 2009
Richard Crenian writes the best of………written in September 08, confirming what we already know, that the stock market is a jungle of hucksters and promoters. In the end our boring and safe strategy went out the window with greed. Finally we speak about my partner Howard is believes still and then that slow and steady wins the race!
You can call Howard anytime in Tucson on his Calgary number at 4036304544.
Read on McDuff!! See below.
September 29, 2008
I have been to Las Vegas, but I don’t gamble. I tried. I lost a hundred dollars and it made me sick. That was about 25 years ago. I couldn’t stand that I had lost the money so foolishly and in about twenty minutes. I worked hard for that hundred dollars and wanted to stretch it to enjoy it. I didn’t. I have not gambled since.
When my friends were investing in the stock markets, and making money in mutuals, I was happy for them. Why they asked didn’t I invest in them?
For me it was easy……. “Vegas, Baby”.
My rule was not to gamble unless it was a sure thing. A sure thing is tangible and I have control. Logic and common sense is how I like to invest, not on emotion.
A hurricane happens, and the oil prices go up. The wind blows the wrong way and a stock goes down. Russia looks at China the wrong way and the stocks go down. The USA has a banking crisis and………….?
Gold up one day, down the next. Currency up one day, down the next.
What happens when you turn 65 and want to cash in your chips? Is something, somewhere in world affecting your ability to draw your hard earn money out? Then what?
If you have the stomach for this, I applaud you.
I don’t.
I refuse to gamble with my future.
Will I have to work till I am 80? It is worrisome.
Me? Stick with my cash flowing products, stay above inflation, worry less and enjoy life more. Let the winds blow from where they may as it doesn’t affect my investment decisions.
When you buddies lament about how their portfolios are not doing well, smile, nod and think, “It’s Vegas, Baby!” And be glad you aren’t there!
Richard Crenian
By Richard Crenian
March 19, 2009
Richard Crenian writes the best of………written in September 08, confirming what we already know, that the stock market is a jungle of hucksters and promoters. In the end our boring and safe strategy went out the window with greed. Finally we speak about my partner Howard is believes still and then that slow and steady wins the race!
You can call Howard anytime in Tucson on his Calgary number at 4036304544.
Read on McDuff!! See below.
September 29, 2008
I have been to Las Vegas, but I don’t gamble. I tried. I lost a hundred dollars and it made me sick. That was about 25 years ago. I couldn’t stand that I had lost the money so foolishly and in about twenty minutes. I worked hard for that hundred dollars and wanted to stretch it to enjoy it. I didn’t. I have not gambled since.
When my friends were investing in the stock markets, and making money in mutuals, I was happy for them. Why they asked didn’t I invest in them?
For me it was easy……. “Vegas, Baby”.
My rule was not to gamble unless it was a sure thing. A sure thing is tangible and I have control. Logic and common sense is how I like to invest, not on emotion.
A hurricane happens, and the oil prices go up. The wind blows the wrong way and a stock goes down. Russia looks at China the wrong way and the stocks go down. The USA has a banking crisis and………….?
Gold up one day, down the next. Currency up one day, down the next.
What happens when you turn 65 and want to cash in your chips? Is something, somewhere in world affecting your ability to draw your hard earn money out? Then what?
If you have the stomach for this, I applaud you.
I don’t.
I refuse to gamble with my future.
Will I have to work till I am 80? It is worrisome.
Me? Stick with my cash flowing products, stay above inflation, worry less and enjoy life more. Let the winds blow from where they may as it doesn’t affect my investment decisions.
When you buddies lament about how their portfolios are not doing well, smile, nod and think, “It’s Vegas, Baby!” And be glad you aren’t there!
Richard Crenian
Monday, March 16, 2009
"Promises, Promises!" Richard Crenian Blogs
Richard Crenian Blogs
16-Mar-09
“Promises, Promises!”
The next time someone promises you a an offer of a “guaranteed rate of return” on your money, and it is more than 8 per cent, head for the hills!!
That is a scam…………Really who offers more than 8 per cent guaranteed these days?
1. scammers
2. ponzi artirts
3. and fraudsters!!
You would think we know this for a fact now. But if greed is good, today greed WAS good. Imagine that!
When has anyone ever thought you could make a big score with your money and that indeed you need not earn your money the old fashion way, by hard work? Who would have thunk (sic) it?
Government bailouts what a joke! How has it helped you? Mutual Funds, Hedge Funds and the Stock Markets are described best by Jimmy Buffet (of Margarita fame), “Can't you feel them circling, honey? Can't you feel them swimming around? You got fins to the left, fins to the right, And you're the only bait in town!”
How you would ever put your money in with those gamblers and hucksters ever? Till the day you die? God help you if you do……
Jon Stewart (of the Daily Show )interviewed, “Mad Money Kramer” of the CNBC show…….I love it! He asked Kramer (graduate of Harvard) where he ever thought he could have recommended Bears Sterns just before it hit the dust??
Someone has to be accountable!
http://www.thedailyshow.com/tagSearchResults.jhtml?term=Jim+Cramer
Be more like Howard, plan, don’t be greedy, start slow and secure and at the end the tortoise always wins the race. And Howard? He’s golfing having a nice time in Tucson. Phone him and ask him what he’s shooting these days? 403 630 4544!
Richard Crenian
16-Mar-09
“Promises, Promises!”
The next time someone promises you a an offer of a “guaranteed rate of return” on your money, and it is more than 8 per cent, head for the hills!!
That is a scam…………Really who offers more than 8 per cent guaranteed these days?
1. scammers
2. ponzi artirts
3. and fraudsters!!
You would think we know this for a fact now. But if greed is good, today greed WAS good. Imagine that!
When has anyone ever thought you could make a big score with your money and that indeed you need not earn your money the old fashion way, by hard work? Who would have thunk (sic) it?
Government bailouts what a joke! How has it helped you? Mutual Funds, Hedge Funds and the Stock Markets are described best by Jimmy Buffet (of Margarita fame), “Can't you feel them circling, honey? Can't you feel them swimming around? You got fins to the left, fins to the right, And you're the only bait in town!”
How you would ever put your money in with those gamblers and hucksters ever? Till the day you die? God help you if you do……
Jon Stewart (of the Daily Show )interviewed, “Mad Money Kramer” of the CNBC show…….I love it! He asked Kramer (graduate of Harvard) where he ever thought he could have recommended Bears Sterns just before it hit the dust??
Someone has to be accountable!
http://www.thedailyshow.com/tagSearchResults.jhtml?term=Jim+Cramer
Be more like Howard, plan, don’t be greedy, start slow and secure and at the end the tortoise always wins the race. And Howard? He’s golfing having a nice time in Tucson. Phone him and ask him what he’s shooting these days? 403 630 4544!
Richard Crenian
Thursday, March 12, 2009
"Condos-The New Reality!" by Richard Crenian
Richard Crenian Blogs
Condo Projects-The New Reality
March 10, 2009
If you punch in Google News and go to a search of “The Donald” you will find that it has been bad for a year in condos.
I am not picking on him but just saying that he whole game plan is to sell off his name (that is smart) take all the credit (smart) and when the you know what hits the fan, he claims ignorance.
One thing he does is he promotes endlessly, claims to know all, and when the market is good he is the hero. What when it goes bad?
The Baja project that he sold the license fees for his name , investors have lost 32 million, his Chicago project he stands to lose 70 million or more, and his daughter who works for him is promoting Panama.
Panama, home of the overbuilding, empty suites that many unknown foreign speaking “out of towners” came to buy real estate with suitcases of cash.
I am not picking on him. Just saying that when the residential real estate market is going well, promoters make the money, and when the market falls, promoters fail.
Look at Howard my partner. Slow and steady, safe and secure are his mottos. He believes there aren’t get rich quick schemes without huge risk and if you invest slow but sure, with cash flow appreciating real estate, you would be ok and getting a nice return on your money.
The promoters promote. Howard invests slowly but surely and is steadfast that cash is King and cash flow lasts longer. Don’t try and sell him what’s “too go to be true!”
He doesn’t believe you. Phone him but don’t tell him he’s smart, you knows that, just bug him about his golf game. 403-630-4544. Donald, are you listening………?
Richard Crenian
Ps Below are some links and articles about the Donald you might find interesting.
http://www.realestatechannel.com/international-markets/vacation-leisure-real-estate/donald-trump-trump-ocean-resort-baja-baja-mexico-trump-international-hotel-tower-irongate-capital-partners-alex-finkelstein-527.php
“New York entrepreneur Donald J. Trump's planned 526-suit Trump Ocean Resort Baja - 30 minutes south of Downtown San Diego - is nothing but a deep hole in the ground today.
The condo-hotel project in North Baja, Mexico, could not obtain financing from a German bank to start construction.
Investors who had rushed to plunk down 30 percent deposits on suites priced from $300,000 to $3 million, are out their money.
Trump Entertainment Resorts Inc., through a Mexican entity, PB Impulsores, informed investors there were no funds to refund deposits totaling $32.2 million.
Trump Entertainment Resorts maintains a clause in the buyers' contracts gave the developer a right to spend their deposits.
Several lawsuits have already been filed in Los Angeles Superior Court.
Trump Baja condos went on sale in October 2006. S&P Destination Properties sold 188 units for a total $122 million on the first day of the sale. “
And from the Chicago Tribune…..
http://www.chicagotribune.com/business/chi-wed-trump-truce-0304-mar04,0,33484.story
“Trump and Deutsche filed suits against each other in November. Trump first sued Deutsche and other lenders in New York State Supreme Court in Queens, seeking to excuse a repayment of more than $330 million due Nov. 7 and extend the $640 million construction loan for an unspecified amount of time. In the suit, Trump claimed that the global economic crisis was a "once-in-a-lifetime credit tsunami" affecting his ability to sell units at the Tower and repay the loan. He also sought $3 billion in damages.
Deutsche then filed its lawsuit in New York State Supreme Court in Manhattan, claiming Trump personally owed the bank $40 million after defaulting on the loan.
Several issues need to be resolved. Among them is Trump's assertion that the minimum selling prices of the units, set in 2005 during the market's zenith, are no longer realistic and Deutsche needs to agree to lower them. Some of the building's earliest buyers are marketing units for resale at prices substantially below the prices at which Trump can sell units.
Also to be negotiated is a maturity date on the $640 million construction loan and a price by which Trump could fulfill his desire to buy unsold hotel condo units in that portion of the project. In November, Trump offered $96.6 million for those units but he acknowledged Tuesday the market has changed dramatically since his initial offer last fall.”
Lastly from the
http://www.homesgofast.com/view_news/1354/
“Ivanka Trump, daughter of US real estate mogul Donald Trump and executive vice president of development and acquisitions for the Trump Organization, has good things to say about Panama. The 70-story Panama City Trump Ocean Club is scheduled to open in 2010 with a combination of condominiums, a hotel, restaurants, retail stores and a casino, and Miss Trump was promoting the project and the country in a recent interview with Latin Business Chronicle.
“I have projects all over the world [and] have a unique sense of the global real estate climate and submarkets,” she said in a recent interview. “With great conviction, Panama is one of the strongest, if not the strongest real estate market. Our biggest problem is not having enough inventory.”
Panama is a popular property destination for international investors for a number of reasons, and has been named by several leading publications and sources as a hotspot for 2009. It is predicted to be one of the better performing Latin American real estate markets in what is seen as a difficult year ahead. Panama offers tax incentives for developers and buyers, and Miss Trump notes that the government is very supportive of developers: “I’m impressed by their forward thinking in bringing in new potential investors,” she said.”
Comment from me……….not wanting to be cynical but. “Yeah, right! I am sure the new breed will line up ten people deep…….”
Richard Crenian
Condo Projects-The New Reality
March 10, 2009
If you punch in Google News and go to a search of “The Donald” you will find that it has been bad for a year in condos.
I am not picking on him but just saying that he whole game plan is to sell off his name (that is smart) take all the credit (smart) and when the you know what hits the fan, he claims ignorance.
One thing he does is he promotes endlessly, claims to know all, and when the market is good he is the hero. What when it goes bad?
The Baja project that he sold the license fees for his name , investors have lost 32 million, his Chicago project he stands to lose 70 million or more, and his daughter who works for him is promoting Panama.
Panama, home of the overbuilding, empty suites that many unknown foreign speaking “out of towners” came to buy real estate with suitcases of cash.
I am not picking on him. Just saying that when the residential real estate market is going well, promoters make the money, and when the market falls, promoters fail.
Look at Howard my partner. Slow and steady, safe and secure are his mottos. He believes there aren’t get rich quick schemes without huge risk and if you invest slow but sure, with cash flow appreciating real estate, you would be ok and getting a nice return on your money.
The promoters promote. Howard invests slowly but surely and is steadfast that cash is King and cash flow lasts longer. Don’t try and sell him what’s “too go to be true!”
He doesn’t believe you. Phone him but don’t tell him he’s smart, you knows that, just bug him about his golf game. 403-630-4544. Donald, are you listening………?
Richard Crenian
Ps Below are some links and articles about the Donald you might find interesting.
http://www.realestatechannel.com/international-markets/vacation-leisure-real-estate/donald-trump-trump-ocean-resort-baja-baja-mexico-trump-international-hotel-tower-irongate-capital-partners-alex-finkelstein-527.php
“New York entrepreneur Donald J. Trump's planned 526-suit Trump Ocean Resort Baja - 30 minutes south of Downtown San Diego - is nothing but a deep hole in the ground today.
The condo-hotel project in North Baja, Mexico, could not obtain financing from a German bank to start construction.
Investors who had rushed to plunk down 30 percent deposits on suites priced from $300,000 to $3 million, are out their money.
Trump Entertainment Resorts Inc., through a Mexican entity, PB Impulsores, informed investors there were no funds to refund deposits totaling $32.2 million.
Trump Entertainment Resorts maintains a clause in the buyers' contracts gave the developer a right to spend their deposits.
Several lawsuits have already been filed in Los Angeles Superior Court.
Trump Baja condos went on sale in October 2006. S&P Destination Properties sold 188 units for a total $122 million on the first day of the sale. “
And from the Chicago Tribune…..
http://www.chicagotribune.com/business/chi-wed-trump-truce-0304-mar04,0,33484.story
“Trump and Deutsche filed suits against each other in November. Trump first sued Deutsche and other lenders in New York State Supreme Court in Queens, seeking to excuse a repayment of more than $330 million due Nov. 7 and extend the $640 million construction loan for an unspecified amount of time. In the suit, Trump claimed that the global economic crisis was a "once-in-a-lifetime credit tsunami" affecting his ability to sell units at the Tower and repay the loan. He also sought $3 billion in damages.
Deutsche then filed its lawsuit in New York State Supreme Court in Manhattan, claiming Trump personally owed the bank $40 million after defaulting on the loan.
Several issues need to be resolved. Among them is Trump's assertion that the minimum selling prices of the units, set in 2005 during the market's zenith, are no longer realistic and Deutsche needs to agree to lower them. Some of the building's earliest buyers are marketing units for resale at prices substantially below the prices at which Trump can sell units.
Also to be negotiated is a maturity date on the $640 million construction loan and a price by which Trump could fulfill his desire to buy unsold hotel condo units in that portion of the project. In November, Trump offered $96.6 million for those units but he acknowledged Tuesday the market has changed dramatically since his initial offer last fall.”
Lastly from the
http://www.homesgofast.com/view_news/1354/
“Ivanka Trump, daughter of US real estate mogul Donald Trump and executive vice president of development and acquisitions for the Trump Organization, has good things to say about Panama. The 70-story Panama City Trump Ocean Club is scheduled to open in 2010 with a combination of condominiums, a hotel, restaurants, retail stores and a casino, and Miss Trump was promoting the project and the country in a recent interview with Latin Business Chronicle.
“I have projects all over the world [and] have a unique sense of the global real estate climate and submarkets,” she said in a recent interview. “With great conviction, Panama is one of the strongest, if not the strongest real estate market. Our biggest problem is not having enough inventory.”
Panama is a popular property destination for international investors for a number of reasons, and has been named by several leading publications and sources as a hotspot for 2009. It is predicted to be one of the better performing Latin American real estate markets in what is seen as a difficult year ahead. Panama offers tax incentives for developers and buyers, and Miss Trump notes that the government is very supportive of developers: “I’m impressed by their forward thinking in bringing in new potential investors,” she said.”
Comment from me……….not wanting to be cynical but. “Yeah, right! I am sure the new breed will line up ten people deep…….”
Richard Crenian
Tuesday, March 10, 2009
"The Real Genius!" by Richard Crenian
Richard Crenian Blogs
March 10th , 2009
“The Real Genius” by Richard Crenian
A lot of people ask my business partner, Howard Manley, why and how we pick our shopping centers to buy and operate.
It’s really a simple model, don’t overpay and buy the tenants.
So in a recessionary time what kind of tenants don’t you want, and what do you want?
Don’t want:
Anything associated with the downturn of housing. (It sounds simple doesn’t it?)
For example, Furniture stores is a big No-No, furniture suppliers and anyone associated with appliances, car dealers, manufacturers of large household goods, boat dealers, any association to boat dealer suppliers, pretty what anyone is not buying right now, you don’t want that industry as a tenant.
Wants:
Medical, Doctors, Professionals, Repair shops (cars, boats, furniture etc), movie theatres (escapism), Ma and Pa day to day daily needs. Stores promoting “green products” are hot these days, post offices, government agencies, in other words that people can make enough money to pay the rent.
Circuit City is now down the tubes, North American car dealers are shutting their doors, so common sense is always the best way to go. Doesn’t that make sense? That’s the real genius, keeping a handle on the market place, and adapting your tenancies to fit the times.
So the genius is to keep things simple and non complex. Life is easy, no. Work hard, invest in cash flow and relax in Arizona. Ask Howard, he’s planned his life that way for forty years to get to where he is. Call him; he will explain it to you. 4036304544. If you get the answering machine, you know he’s golfing!
Richard Crenian
March 10th , 2009
“The Real Genius” by Richard Crenian
A lot of people ask my business partner, Howard Manley, why and how we pick our shopping centers to buy and operate.
It’s really a simple model, don’t overpay and buy the tenants.
So in a recessionary time what kind of tenants don’t you want, and what do you want?
Don’t want:
Anything associated with the downturn of housing. (It sounds simple doesn’t it?)
For example, Furniture stores is a big No-No, furniture suppliers and anyone associated with appliances, car dealers, manufacturers of large household goods, boat dealers, any association to boat dealer suppliers, pretty what anyone is not buying right now, you don’t want that industry as a tenant.
Wants:
Medical, Doctors, Professionals, Repair shops (cars, boats, furniture etc), movie theatres (escapism), Ma and Pa day to day daily needs. Stores promoting “green products” are hot these days, post offices, government agencies, in other words that people can make enough money to pay the rent.
Circuit City is now down the tubes, North American car dealers are shutting their doors, so common sense is always the best way to go. Doesn’t that make sense? That’s the real genius, keeping a handle on the market place, and adapting your tenancies to fit the times.
So the genius is to keep things simple and non complex. Life is easy, no. Work hard, invest in cash flow and relax in Arizona. Ask Howard, he’s planned his life that way for forty years to get to where he is. Call him; he will explain it to you. 4036304544. If you get the answering machine, you know he’s golfing!
Richard Crenian
Monday, March 9, 2009
"Land is Dirt, Cash is King!" by Richard Crenian
Richard Crenian Blogs
March 5, 2009
“Land Is Dirt, Cash is King!”
Old story with a new twist.
I ran into someone today that was talking about an accumulation of land “to be ready for development in 2-3 years” in Calgary. I laughed and said it would more than likely be five to seven years at least.
He wanted to know why? There is so much land in Calgary and area “ready for development” that even if his would come on, there would be no one to sell to.
Who would be buying land if the market for residential is not there.
There is a lot of infrastructure to put into place before the land is “ready” and there is also a cost to setting up the infrastructure. Who is going to finance it? How are you going to carry your financing and how are you going to pay for your financing?
Most people I know are keeping their lands as farming or agricultural so that the taxes are lower. Land deals do work so long as you have patience, very good patience and you can withstand the economies of time. However beware when you are not the first man in buying, if you are buying through a promoter then the land price is already inflated.
Howard and I have been in real estate for over 30 years each. What haven’t we seen? Here we are in the twilight of our careers, talking about cash flow, cash flow and cash flow.
Cash Flow is King, Land is Dirt, of course. There is no easy way to make money today, so be smart and go for the flowing of Cash. Howard is still in Tucson, he loves the hot weather and his golf game is looking good. Call him to say hi! 4036304544.
Richard Crenian
March 5, 2009
“Land Is Dirt, Cash is King!”
Old story with a new twist.
I ran into someone today that was talking about an accumulation of land “to be ready for development in 2-3 years” in Calgary. I laughed and said it would more than likely be five to seven years at least.
He wanted to know why? There is so much land in Calgary and area “ready for development” that even if his would come on, there would be no one to sell to.
Who would be buying land if the market for residential is not there.
There is a lot of infrastructure to put into place before the land is “ready” and there is also a cost to setting up the infrastructure. Who is going to finance it? How are you going to carry your financing and how are you going to pay for your financing?
Most people I know are keeping their lands as farming or agricultural so that the taxes are lower. Land deals do work so long as you have patience, very good patience and you can withstand the economies of time. However beware when you are not the first man in buying, if you are buying through a promoter then the land price is already inflated.
Howard and I have been in real estate for over 30 years each. What haven’t we seen? Here we are in the twilight of our careers, talking about cash flow, cash flow and cash flow.
Cash Flow is King, Land is Dirt, of course. There is no easy way to make money today, so be smart and go for the flowing of Cash. Howard is still in Tucson, he loves the hot weather and his golf game is looking good. Call him to say hi! 4036304544.
Richard Crenian
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