The 200 & 300 mile range models will cost as much as a GT-R, Porche, Vette, 5s BMW, & $20k more than a CTS-V Cadillac.
Yes, I'll be putting down a deposit for a $80k TSLA S coupe, that may not even pass the safety tests. To the new stock owners-welcome:)
You read it, Bud. You just can't answer it.
Ever heard the term, a competent-incompetent? That would be you......A competent person who's hopelessly incompetent functioning at work.
You're in the perfect work category, Bud, commercial real estate. Not a lot of brain trust involved.
Hey, Bud! Think what you want. I really don't care.
"Air"?? I can tell you this with a great deal of authority and experience.......aside from a public auto group, buying a vacant KMart and holding on to it is absurd! I personally know some of the largest car dealers in the country and I can say without a doubt that warehousing property is so NOT in line with how dealers operate or think is convoluted at so many levels, I can't even comment.
I'm not trying to pull the wool over your eyes, Bud. You already do a good job of that yourself with no help from me.
What you also fail to see is you're operating in a pre-recesssion mind set! No one's stockpiling properties in the hope of some future business operation. If you see this as a daily process, you are clueless, Bud.
Business, in general, has been a fist fight for the past 3 years. Staying afloat has been a challenge for everyone. Real estate has gone one way, D-O-W-N! Sitting cash has been almost non-existent.
Bud, I asked you originally what the property was going to be used for? I asked you which product? You listed a number of luxury franchises. Knowing that these various automakers would NOT have dual luxury franchises on the same property, I told you it must be a pre-owned dealer. You then said it wans't. That the people who bought the property have these franchises at other locations. It's gone from there to you NOW saying the buyers are "warehousing" the proprty! If there's a person here making zero sense, it would be you, Bud!
I guess you finally got the point I was setting you up. You finally saw that you had nowhere to go with this ridiculous "purchase". You finally got it that I was backing you into a corner. Sorry about that, Bud. It was you and not me who began blabbering about the KMart. I simply took you down a path afterwards.
Lastly, if I know nothing about investing in real estate, or businessmen in general, HOW is it that I, in YOUR words, ".....had me going for quite a while there"????? Aren't YOU the real estate guy, Bud? Sure you are! I just put you in a corner you can't get out of.
Now take your "warehousing" concept and shove it where the sun don't shine. You have no clue at all about what you're saying.
You know coach, I think if you were for real you would have grasped this deal right away. The more you question it the more air appears in your story. I think you can talk the talk, but you don't walk the walk.
I give you credit though, you had me going for quite a while there.
It's quite obvious you know nothing about investing in real estate, or businessmen in general who invest in real estate.
Car dealers are businessmen. Some of them make a ton of $ and they invest in real estate for potential future operations without anything specific in mind at the moment. There are tons of reasons for this, but you seem stuck on thinking not so. Which leads me to think you are not for real.
Another thing, Bud. A strip mall???? Being in the real estate business yourself, strip malls are not happening these days, Bud. If you have the money, BIG money, you're looking at prime city locations to renovate. Strip malls, at least for the mid-future, have run the course.
The real estate market looks to be 5-10 years from any kind of recovery.
Aside from a maybe a public company, Bud, no car dealer warehouses for the future. The business isn't like that. When deals are done, it's pretty much immediate. A definite franchise is coming. However, there are times when an auto maker is looking to designate an "open point" (an opportunity to have a brand in a market). Dealers will flock to the "optimal point", (direct location, or within a mile where the dealership should be located). They will make rights-of-first-refusal offers on available properties in hopes of being selected by the auto maker. Other than this, wearhousing doesn't happen. It just doesn't. In fact, in all my years in the business I've never known a single guy who's done it, wearhousing. Really, until a location is refurbished, or built-out, the cost of ownership of an unused parcel is worthless and completely unproductive for a dealer. Car dealers, aside from owning the property where their dealership is located, DO NOT want to be real estate magnates.
As I said when first mentioning this topic: ""buy for future uses.""
They have not announced what brand tehy will sell on that site, it's a future (like 5 yrs away) development possibility. They may strip off the front 5 acres for a strip mall, maybe some other type development on the rest. It may never be a dealership. That's my understanding from semi-inside info. But you never really know what they are thinking. And their thinking may change over time. My belief is this is property they will "warehouse" for the future. It was a chance to pick up a large parcel near other dealerships in a nearby town.
Ok, let's try to be a bit more specific, Bud. This company bought a KMart. I asked you what they were going to be selling.You said they sell a bunch of different brands. I asked which ones and you're telling me they sell in different places.
If a car dealer or group buys property AND they sell brands in different places, then it's pretty much common knowledge, at least for those selling the property or are agents for the property, to pretty know what franchise(s) will occupy the property, ESPECIALLY if no franchise exists in your town. Let me ask this? How big is your town/market? Is it a suburb of a large market? A bit more info is needed.