Today i share about an old school friend of mine, my senior though.
Lets call him Mr C.
Mr C is a single. Never married. No children.
He's semi retired and runs his own business.
Some years ago we had a chat at his bungalow near marine parade.
He revealed that he owns few other pieces of land around the area, all freehold. Total land size perhaps 120,000sf.
It seems that far east and cdl came knocking on his doors several times asking him whether he wants to sell or JV the land. But he rejected all those offers.
Now his house is surrounded by tall buildings.
I asked him why.
He said i don't need the money. Why should i sell?
Maybe he has other plans. I don't know.
But being in his 60's, no wife, no children. He might just end up like the seletar house owner who nearly got cheated big time.
Hope things turn out well for him.
Lets call him Mr C.
Mr C is a single. Never married. No children.
He's semi retired and runs his own business.
Some years ago we had a chat at his bungalow near marine parade.
He revealed that he owns few other pieces of land around the area, all freehold. Total land size perhaps 120,000sf.
It seems that far east and cdl came knocking on his doors several times asking him whether he wants to sell or JV the land. But he rejected all those offers.
Now his house is surrounded by tall buildings.
I asked him why.
He said i don't need the money. Why should i sell?
Maybe he has other plans. I don't know.
But being in his 60's, no wife, no children. He might just end up like the seletar house owner who nearly got cheated big time.
Hope things turn out well for him.
I think if he don't need the money, there are some who can make use of his money. Don't always have to earn money for yourself..you can also earn money for others. If he has no use for the land, then rent it to charitable organisation? So many things he can do....
ReplyDeleteHi LP, i agree. But i think till today, the land is just vacant. Got rubber trees there somemore. I think ppty tax not cheap also.
DeleteReenforces the importance of family. At least theres someone to pass down too. Same with stock portfolio.
One day, some strangers become close friends and another good story for the local newspapers like seletar house owner.
ReplyDelete120k sf fh land. Some near mrt somemore. 10-20yrs time, i think it could be worth 1/4B.
Deletehope he has a plan.
He is in 60s already, does he still have another 10-20 yrs? Even he has, what would he do with the money by 80?
DeleteI don't know what plans he has. Even if he spends $10mil per year or $1k per hour of life including sleep hours, he cannot finish his money.
ReplyDeleteTo each his own.