Chapitre 7: Chapter 7: Second business
Brandon woke up the following morning having decided how he wanted to proceed with his next business venture. He wanted to buy out an already existing company so that he didn't need to spend as much money on building one from scratch. He would not have to worry about hiring new employees, finding properties that he can buy and sell for more, etc..
He decided he would look for a medium size real estate company and buy it out. While searching he found several potential companies, however only 1 of them was on the side of the city he was in and had enough properties listed under the company to warrant him buying them out since they would provide the best returns.
The company he decided on was called Uprise real estate. He made an offer of $75 million in cash and it was accepted immediately. The company had a total of more than 3,000 properties under its name that were being leased, and the same number that were either being remodeled or built, some of them were apartment complex's, some where homes, and a few were office buildings. In total the annual profits were between $1 million and $2 million, while the total revenue was closer to $5 million, however most of it went towards maintaining the properties.
After he bought the company he renamed it to Michaels Real Estate, and sent out a letter to all of the people currently occupying any of the properties owned by the company to inform them of the buy out, as well as to inform them that there would be no changes to the way the property was managed and that it should not cause any issues for them so long as they are abiding by their lease agreements.
He also included that he planned to look at all the properties and should the current residents have any concerns or questions they can bring them up when he is there to inspect the property they are leasing. He told them that he would inform them of any changes that may occur after his inspection with in 30 days, and that he would allow them up to 90 days after their lease expiration to make appropriate preparations for those changes. He hoped that his current tenants would remain customers of his company which is why he is trying to give as much information and leeway as he can while still serving his interests.
After sending out the notification he went ahead to inspect the properties without tenants. He looked at all of them and found a few that needed to be renovated and updated. He also noticed that there was a large plot of land available to be built on. The size of the land was 2 Hectares, 4.94 acres, or 215,278 Square feet. He went ahead and reserved this plot of land for himself so that he could have a house designed and then built on it.
He contacted the person who was running the company and had them put him into contact with the person who designs their buildings. He wanted it to be 2 floors, with one floor being underground. The house would be 75,000 square feet, with the underground floor being hidden, you would have to go through a hidden room which could only be accessed from the kitchen, It was behind one of the cabinets on the first floor and then there would be a staircase hidden behind a bookcase in that room that lead underground.
After giving the information to the Architect he went home since he would need to be awake early tomorrow so that he could continue inspecting the properties. He had only managed to get to half of them today and would check the other half tomorrow. After which he would be taking 3 days off from working, and giving his employees those 3 days off as well since it would be Christmas the 2nd day. He was going to give them the day before, the day of and the day after Christmas off. He planned to do this regularly. He knew that if the employees were happy then he was likely to make more profits.
When he got home he had dinner and then he went straight to bed. The following morning he went straight out to inspect the properties and there were not any major issues, he only wanted to go ahead and upgrade the appliances and do regular repairs. Once that was set up he went ahead and checked back with Chris Jacobs, who ran the real estate business, to see what the cost of his own house construction was going to be. It came out to $40 million. This meant he would need to take more money from the group and transfer it to his account, so he transferred $20 million from the group to his account.
After paying for the house he went to try to find a gift for his mom for Christmas. He could not really find anything he thought she may like, he decided on giving her something simple, he bought a robe and some pajamas. He also purchased a Christmas card and then went by the bank and withdrew $1,000 to give to his mother with the card. He then went back home again for the next few days.
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Status as of this chapter:
Personal Net worth: $5 million cash, $40 million personal Real Estate, $139 million group, $145 million stocks
Investments: Amazon, Apple, Starbucks, Microsoft
Business net worth: $225 million liquid funds, $279 million estimated non-liquid assets
Business': Michaels Conglomerate LLC, Michaels Technologies LLC, Michaels Real Estate
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