Thursday, December 7, 2006
I just got an email from a CCIM buddy of mine who just got back from his second investment tour of China. I was with him, as well as 30 other CCIM's on his first trip November 2005. There are many residential opportunities there, mostly condos in new buildings. Some, as in Beijing near the 2008 Olympics, provide guaranteed cash flows of 8% for the first few years. I was really impressed with Macao. This is the Las Vegas of the East. If Steve Wynn is already there... And Macao will eclipse the gaming revenue of Las Vegas in 2007. Hmmm.