shut it down. Heard a joke the other day, how do turn a C class building into a F class building? have bob dhillon buy it.
Bed bugs in every building, leaky roofs, black mold. This slumdog millionaire is going to get shut down by the health authority and some of his buildings demo'ed.
Hints his stock going to zero?
Lying with the numbers.
Look at his vacancy rate- 9.5% he claims lower but a vacant non renting suite counts as a vacancy. piece the numbers together for yourself in his numbers. Right now he has over 750 unrentable suits- at $120k a door, $90 million in garbage well over 10% of mkt cap.
11% is his operations expenses. boardwalk has the best at 27%, but most are around 32%-36%.
Why can bob run a business for less then half of the biggest player in canada? answer is because he can't, it is only because he doesn't do any maintenance.
No dividend, 10m share float, and a decade of the biggest run of real estate in the history of mankind and the best he can do is 67m a yr in revenue, he needs over a billion dollars in assets to do this.
There is no reason to own this stock.