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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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Posted on: 2015/12/25 13:09
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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I was right! Hold on...still falling

Posted on: 2015/11/24 17:10
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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Itwasme wrote:
BODHIPOOH you come off like we are talking about YOU.


Yawn. Does this mean you are now done grinding your axe? I hope so, because, honestly, your butt hurt display was pretty sad. You got outbid and outmaneuvered on a purchase and you come here to whine about it. I'm sure you will soon disappear, as often happens with the likes of you that come in here to bitch and whine about something and add nothing of value. Bye, Felicia.

Posted on: 2015/11/24 3:52
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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BODHIPOOH you come off like we are talking about YOU.

Posted on: 2015/11/24 0:36
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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DanL wrote:
maybe I had not noticed this in the past, but the recent school board elections drew involvement (other than contributions) from this company and another local property developer.

I believe this employee managed the wining ticket http://www.dixonadvisoryusa.com/2720-2/ and I ran into her campaigning by MS 4 and in Hamilton Park.

and an employee of the developer was a winning candidate and some of their staff was prominent with the campaign.

again, unless I did not notice in the past, this signals a new level of political involvement from people that do business in the city.



Interesting. I see that as a positive. If the company is getting involved at that level that would indicate a serious commitment to the area. I am sure some would be suspicious of this, but it would seem to be hypocritical to chastise a foreign company for buying local real estate (without having local stakes and thereby accusing them of profiteering) and then bash them for wanting to get involved.

Posted on: 2015/11/23 19:19
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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maybe I had not noticed this in the past, but the recent school board elections drew involvement (other than contributions) from this company and another local property developer.

I believe this employee managed the wining ticket http://www.dixonadvisoryusa.com/2720-2/ and I ran into her campaigning by MS 4 and in Hamilton Park.

and an employee of the developer was a winning candidate and some of their staff was prominent with the campaign.

again, unless I did not notice in the past, this signals a new level of political involvement from people that do business in the city.


Posted on: 2015/11/23 19:04
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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SRhia wrote:
Does anyone know how their properties are renting? I remember seeing some of the listings, and the asking rental prices are wayyyyy high. I know they've also dropped rental prices since then. So I'm wondering what's their occupancy rate on the properties???


Based on the latest quarterly update (link provided by bluehorse) only 2% of their property portfolio is available for lease. The rest is either occupied or undergoing renovation.

Posted on: 2015/11/23 17:59
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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There is no need to speculate. They give exact numbers here. Cost of acquisition, renovation, rental income, ... All here:
http://clients3.weblink.com.au/pdf/URF/01680858.pdf

The thing that worries me, as a property owner, is having one entity own such a large share of downtown real estate. They essentially bought all the nice buildings in the last couple of years. If anything were to happen to the fund, and they need to liquidate all at once. Unlikely, but the risk is there. A market is more stable when it's owned by actual families instead of one investor. The only difference between an investor and a speculator is the price they paid. And we are looking at historic highs here. If they bought a long time ago and have accumulated a healthy equity, that's one thing. But they bought a lot of property recently and have no equity yet. Their risk is 100% hedged to demand for high rental properties, which are also at historic highs. If demand were to drop for any reason ...

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jcneighbor wrote:
Quote:

bodhipooh wrote:
Quote:

Itwasme wrote:
They don't make any sense buying at market price a $2 million brownstone and renting it for $8k per month. The taxes are half the rent. Their investors are going to feel it. US "masters" ...where is the plantation?


I'll help you with the math... Currently, all of those properties they own are under assessed, so they are paying close to 1%. Take your theoretical 2MM brownstone, and they are likely paying less than 20K / year. For the sake of keeping things simple, let's say they are paying 24K, which is 2K per month. That's 25% of the theoretical 8K monthly rent. The rest is a steady stream of revenue for the investors, to the tune of 6K per month. I wouldn't worry about their finances... I think they know what they are doing.



Math looks about right to me if you assume zero other costs or vacancy time, which isn't realistic. But if the positive revenue is $6k/month on a 1.4Mil cash purchase (for example) it works out to an annual return (gross) of only 5.1%. Hardly spectacular. The real questions are whether the market will hold up and then probably the reval, and whether these properties will be well underwater with downward pressure on the rents at the same time. I haven't seen them sell anything, just still buying...


Fascinating read! Thank you for posting a link to that document. Based on what it says, they are doing rather well.

With regards to the other stuff, I am not sure I would characterize their presence in JC as controlling a large share of the downtown JC market, but they definitely are dominating the market in terms of rental rates and the appeal of their properties. As for their equity, I guess you could say they have 100%. They are buying these properties in cash, not with mortgages. Not sure how else they could increase their equity anymore given that they already own the properties outright.

Posted on: 2015/11/23 17:41
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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Does anyone know how their properties are renting? I remember seeing some of the listings, and the asking rental prices are wayyyyy high. I know they've also dropped rental prices since then. So I'm wondering what's their occupancy rate on the properties???

Posted on: 2015/11/23 17:18
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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There is no need to speculate. They give exact numbers here. Cost of acquisition, renovation, rental income, ... All here:
http://clients3.weblink.com.au/pdf/URF/01680858.pdf

The thing that worries me, as a property owner, is having one entity own such a large share of downtown real estate. They essentially bought all the nice buildings in the last couple of years. If anything were to happen to the fund, and they need to liquidate all at once. Unlikely, but the risk is there. A market is more stable when it's owned by actual families instead of one investor. The only difference between an investor and a speculator is the price they paid. And we are looking at historic highs here. If they bought a long time ago and have accumulated a healthy equity, that's one thing. But they bought a lot of property recently and have no equity yet. Their risk is 100% hedged to demand for high rental properties, which are also at historic highs. If demand were to drop for any reason ...

Quote:

jcneighbor wrote:
Quote:

bodhipooh wrote:
Quote:

Itwasme wrote:
They don't make any sense buying at market price a $2 million brownstone and renting it for $8k per month. The taxes are half the rent. Their investors are going to feel it. US "masters" ...where is the plantation?


I'll help you with the math... Currently, all of those properties they own are under assessed, so they are paying close to 1%. Take your theoretical 2MM brownstone, and they are likely paying less than 20K / year. For the sake of keeping things simple, let's say they are paying 24K, which is 2K per month. That's 25% of the theoretical 8K monthly rent. The rest is a steady stream of revenue for the investors, to the tune of 6K per month. I wouldn't worry about their finances... I think they know what they are doing.



Math looks about right to me if you assume zero other costs or vacancy time, which isn't realistic. But if the positive revenue is $6k/month on a 1.4Mil cash purchase (for example) it works out to an annual return (gross) of only 5.1%. Hardly spectacular. The real questions are whether the market will hold up and then probably the reval, and whether these properties will be well underwater with downward pressure on the rents at the same time. I haven't seen them sell anything, just still buying...

Posted on: 2015/11/23 14:45
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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The Annual Dividend yield is 4.61, which is modest but not bad under the circumstances.

To @bodhipooh: Totally got all your points, including the axe-grinding by @Itwasme (who joined yesterday just for this) so I was just looking at the numbers (with realistic tax & overhead $) as a rental property investment now and observing the uncertainties going forward.

My crystal ball is broken and I haven't been able to find a shop that can fix it. The only certain things in life are Death and Taxes...

Posted on: 2015/11/23 2:26
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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Not sure if anyone has mentioned this, but one of the factors for such a 'bad' performance is the fund probably reports in AUD. If you see USD AUD chart, that explains most of the bad performance.

Posted on: 2015/11/23 1:22
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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jcneighbor wrote:
Quote:

bodhipooh wrote:
Quote:

Itwasme wrote:
They don't make any sense buying at market price a $2 million brownstone and renting it for $8k per month. The taxes are half the rent. Their investors are going to feel it. US "masters" ...where is the plantation?


I'll help you with the math... Currently, all of those properties they own are under assessed, so they are paying close to 1%. Take your theoretical 2MM brownstone, and they are likely paying less than 20K / year. For the sake of keeping things simple, let's say they are paying 24K, which is 2K per month. That's 25% of the theoretical 8K monthly rent. The rest is a steady stream of revenue for the investors, to the tune of 6K per month. I wouldn't worry about their finances... I think they know what they are doing.



Math looks about right to me if you assume zero other costs or vacancy time, which isn't realistic. But if the positive revenue is $6k/month on a 1.4Mil cash purchase (for example) it works out to an annual return (gross) of only 5.1%. Hardly spectacular. The real questions are whether the market will hold up and then probably the reval, and whether these properties will be well underwater with downward pressure on the rents at the same time. I haven't seen them sell anything, just still buying...


Agreed that the math is simplistic. The point I was trying to make is that the taxes are not 50%, as originally claimed by Itwasme. Based on his posts, especially that last one, Itwasme seems to have an axe to grind. Namely, that he was outmaneuvered on a potential purchase by Dixon. So, now he is here bitching and moaning and talking shit about them. I'm sure if I was in the market to buy something, and had to compete against Dixon, I would feel at a disadvantage. But, I would also recognize it is an open market, without guarantees, and open to all.

As for actual returns, given the DTJC RE market uncertainties (reval, future appreciation, etc) it is hard to judge/guess how the Dixon properties will fare. Obviously, they are bullish on this market. Despite some sales, Dixon seems much more interested in the rental market, and I think they are having a lot of success. Their properties, once fixed up and renovated, are renting out quickly. Time will tell. I think the market is super hot right now (duh) but I think we might be approaching a slowdown and a potential correction. And, once the reval happens in about two years, that will definitely have an impact in the DTJC market.

Posted on: 2015/11/22 18:44
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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25% down v. cash. No closing risk in cash.

Posted on: 2015/11/22 18:33
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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jcguy05 wrote:
the fund only went up ~15% since beginning of 2014, meanwhile the jc market has been on fire since then, they also buy properties at significant discount vs the normal appreciation gained by homeowners who just buy at market price.

something definitely isn't adding up.


you need to add another 8% in dividends during that period. so ~23% net return

Posted on: 2015/11/22 18:17
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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bodhipooh wrote:
Quote:

Itwasme wrote:
They don't make any sense buying at market price a $2 million brownstone and renting it for $8k per month. The taxes are half the rent. Their investors are going to feel it. US "masters" ...where is the plantation?


I'll help you with the math... Currently, all of those properties they own are under assessed, so they are paying close to 1%. Take your theoretical 2MM brownstone, and they are likely paying less than 20K / year. For the sake of keeping things simple, let's say they are paying 24K, which is 2K per month. That's 25% of the theoretical 8K monthly rent. The rest is a steady stream of revenue for the investors, to the tune of 6K per month. I wouldn't worry about their finances... I think they know what they are doing.



Math looks about right to me if you assume zero other costs or vacancy time, which isn't realistic. But if the positive revenue is $6k/month on a 1.4Mil cash purchase (for example) it works out to an annual return (gross) of only 5.1%. Hardly spectacular. The real questions are whether the market will hold up and then probably the reval, and whether these properties will be well underwater with downward pressure on the rents at the same time. I haven't seen them sell anything, just still buying...

Posted on: 2015/11/22 16:53
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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us "masters" plantation is Van vorst park then. The greedy realtors who ignored my 25% down payment for cash are their properties. The sellers don't care about the neighborhood because they are cashing out. They are on the Australian Exchange so they are raping our land, renovating to sell for 3x more in the future and all profit to Austrilia.

Posted on: 2015/11/22 16:51
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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Your math is elementary. Where is your overhead cost, maintenance, vacancy... More like a -1% cap rate.

Posted on: 2015/11/22 16:24
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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Itwasme wrote:
They don't make any sense buying at market price a $2 million brownstone and renting it for $8k per month. The taxes are half the rent. Their investors are going to feel it. US "masters" ...where is the plantation?


I'll help you with the math... Currently, all of those properties they own are under assessed, so they are paying close to 1%. Take your theoretical 2MM brownstone, and they are likely paying less than 20K / year. For the sake of keeping things simple, let's say they are paying 24K, which is 2K per month. That's 25% of the theoretical 8K monthly rent. The rest is a steady stream of revenue for the investors, to the tune of 6K per month. I wouldn't worry about their finances... I think they know what they are doing.


Posted on: 2015/11/22 15:59
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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jcguy05 wrote:
the fund only went up ~15% since beginning of 2014, meanwhile the jc market has been on fire since then, they also buy properties at significant discount vs the normal appreciation gained by homeowners who just buy at market price.

something definitely isn't adding up.


This is definitely NOT accurate. The Ustralians are buying properties at full asking price (sometimes above!) and paying cash. They are dominating the market, for sure.

Posted on: 2015/11/22 15:52
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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K-Lo wrote:
Dixon bought for cash at ask price or higher around Van Vorst park and then spent thousands on renovations.


They now own 5 rowhouses on my block. 2 of them have been vacant since purchase this past Spring. Both just a hair under full asking price (and all-cash, no contingencies) at 1.275Mil and 1.425Mil if I recall correctly. Both need a considerable amount of "updating". They'll probably spend another 150k minimum per building to trick it up and the rents will be nuts.

Posted on: 2015/11/22 15:39
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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Dixon bought for cash at ask price or higher around Van Vorst park and then spent thousands on renovations.

Posted on: 2015/11/22 14:33
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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Are you talking out of your nose? They are buying at market rate, outbidding buyers and the realtors are in on it, getting both sides of the commission. I can't compete with cash and they are buying the best homes. They don't make any sense buying at market price a $2 million brownstone and renting it for $8k per month. The taxes are half the rent. Their investors are going to feel it. US "masters" ...where is the plantation?

Posted on: 2015/11/22 12:25
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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the fund only went up ~15% since beginning of 2014, meanwhile the jc market has been on fire since then, they also buy properties at significant discount vs the normal appreciation gained by homeowners who just buy at market price.

something definitely isn't adding up.

Posted on: 2015/11/22 7:36
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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why do you suppose it is the beginning of a great fall?

Posted on: 2015/11/22 2:29
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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The beginning of a GREAT fall! Hang on.....

Posted on: 2015/11/22 0:18
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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a 2-3% one day decline is nothing significant in the stock market. Besides, URF is still positive for the year:

http://www.asx.com.au/asx/research/company.do#!/URF

Posted on: 2015/11/21 23:57
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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The article is called US Masters Residential Property Fund Declines A lot Today, Is Now One of The Worst Performer and is located at http://www.financialmagazin.com/us-ma ... e-of-the-worst-performer/.

Posted on: 2015/11/21 22:56
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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loco wrote:
There is no where for us to move... we have tried. Its called a housing crisis.


After 73 years it's hard to take it seriously when the city still calls the rental market a "crisis". It's the not so new "normal", and much of that is due to the "crisis management" called the rent laws. For many decades nobody in their right mind would build rentals in NYC, and many were destroyed because the rents made them worthless. Your sense of being trapped is the result.

I'm sure we're all dying to know, what are all these "victims" paying in rent and for how much space? And what is wrong with you that you would pack your belongings to move into an apartment sight unseen? Let me guess: it was a deal too good to be true.

Posted on: 2015/4/14 21:28
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Re: DIXON LEASING-- US MASTERS RESIDENTIAL
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well okay, then. was trying to help and thought this would be a good forum.

I'm sure all of you will be pleased that I will not be posting and will delete my profile.

If my actions are being seen as an opportunity for me to bitch and not seen as an offer to help, then I've failed in what I attempted to accomplish.

Be well Jersey.

Posted on: 2015/4/14 20:02
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