บท 32: Summit Realty Group
In front of a tall building that belongs to a property management company called the Summit Realty Group, Silas parked his car and stepped out.
Standing at the entrance of the building, Silas could see from how big the Newport branch building is, why the company is called one of the biggest real estate companies in the country.
"I hope they have enough buildings for sale," Silas said to himself, and walked into the building.
After he walked into the building, he walked towards the female receptionist at the front desk.
"I want to buy some apartment buildings. As many as possible. I will also take any and all high-rise buildings you have for sale.
I will also need a professional appraisal to conduct a property inspection of the buildings," Silas said to her, stating his reason for coming.
The receptionist was shocked when she heard this. This is such a huge order!
Although she was shocked, she didn't allow it to show on her face as she maintained her professionalism and smiled and started attending to Silas.
"May I have your name, sir?."
"Silas Kurt."
"Ok Sir. Please wait as I fill in your request and call one of our agents who will come and attend to you."
"Sure, take your time," Silas said and the receptionist immediately got busy on her computer.
The reason why Silas made such a huge order, wanting to buy as many buildings as possible is because on the way, he asked the system if the mission will be completed if he buys a lot of buildings and starts using them as real estate business.
The system said that he can buy a lot of buildings and use it as a real estate business but the mission won't be completed until said buildings get an official evaluation from a professional appraisal.
The system also said that he doesn't need to use the buildings for real estate business to get the mission completed, all he needs to do is just to get the buildings evaluated and it will count towards him completing the mission.
When Silas heard this, he searched up the relevant information on the internet and was surprised by what he saw.
To explain his reason for surprise. Silas' thought was that a building's evaluation would be equivalent to the amount it was bought, or the amount it brings in annually in rent.
Take for example, the 26-Unit building apartment he got as a reward from the system that's expected to bring in $4.5 million monthly and $54.6 million annually. If the building is to be evaluated, its valuation won't be equivalent to the $54 million rent it brings in yearly, nor will it be equivalent to the amount it was bought, as evaluations of buildings are in normal cases extremely lower than the amount it was bought for.
This is because there are different factors that are taken into consideration when evaluating a building.
For someone who wants to go into real estate business, this might be a big headache but not to Silas, because he has what they don't; the rebate and its rewards.
With the rebate, Silas has nothing to fear as all he just needs to do is to buy a building without worrying if it gets an extremely low evaluation, making him lose money in return, but that doesn't mean that he will intentionally buy buildings that are worthless.
*****
"Mr Silas, I have called for one of our agents and he will be here soon. Please give him a moment," The receptionist said after she was done filling in his request.
"Ok," Silas said, and the receptionist continued with her work while he waited for the agent.
Silas didn't have to wait long before he saw a man standing in front of him.
"Mr Silas, I'm Mr Brandon," The man said with an outstretched hand towards Silas.
"Hello Mr Brandon," Silas said as he shook his hand.
"Mr Silas, I heard you want to buy multiple buildings. Are you seeking in setting up a real estate portfolio?," Mr Brandon asked Silas with a curious expression on his face.
"Yeah, you can say it's something like that," Silas replied with a smile.
"I see," Mr Brandon said and made a pondering expression. "Mr Silas, if I may ask? What is your budget?"
"Tens of millions, hundreds or even a billion," Silas replied and Mr Brandon looked at him in surprise.
"Mr Silas, you mean your budget is as big as a billion?," Mr Brandon asked, and Silas nodded in confirmation.
"Mr Silas, let's go to my office. We will discuss further there," Mr Brandon said, inviting Silas to his office.
Silas nodded and followed Mr Brandon. It didn't take them long before they got to Mr Brandon's office which is located on the ground floor.
Mr Brandon took his seat and gestured for Silas to take his.
"Mr Silas, tea or coffee."
"None. I'm fine"
"Ok, Mr Silas," Mr Brandon said and took out a property dossier.
"Here's the list of properties in our care. You can go through it. If it's not enough, I can make a call to our headquarters to inform them of your demand," He said, as he passed the property dossier to Silas.
Silas nodded as he collected it and started going through it.
It took Silas a few minutes to go through the list in his hand and he was satisfied with what he saw.
The price of properties are high and from their pictures, he felt that they would get a high evaluation but he was that optimistic as he's not a professional appraiser.
Though, there's a problem; the number of properties are few, too few.
Silas placed the property dossier on the table and looked Mr Brandon. "Mr Brandon, I want all the properties here but I will need more. Also, add some high-rise buildings or skyscrapers to the list if possible."
"Ok, but I would have to contact our headquarters to arrange the high-rise buildings and skyscrapers," Mr Brandon said and took back the property dossier. "Mr Silas, would you like to see the properties now?"
"Sure. Is there a professional appraisal available? I need him to do the evaluation immediately."
"Yes, we do have a professional appraisal available. Mr Silas, please wait. I will prepare the the relevant documents."
"Wait, you don't need to prepare much. You will be the one managing the buildings," Silas said.
Silas plans to let the company manage the buildings as he feels that it's better to leave its management to the professionals.
Mr Brandon was happy when he heard what Silas said. He was also hoping that Silas would put him in charge and let him manage his portfolio.
Just thinking of how much his status in the company will elevate with such a huge deal made his eyes sparkle.
Mr Brandon immediately got to preparing the papers needed and he also made a call to the professional appraisal.
"Mr Silas, will you go through the papers now or have your lawyer go through them?," Mr Brandon asked, as he was almost done with the papers.
Silas felt like facepalming when he heard Mr Brandon's question. He didn't even remember that he would need a lawyer.
'I was so focused that I forgot that I would need a lawyer to go help me with the legal details.'
"Mr Brandon, just prepare the papers for the buildings. Will the other buildings be ready by tomorrow?"
"I'm not sure about that, Mr Silas. Also you must know the buildings might not be located in Newport or nearby."
"That's fine. Just get the paperwork ready. I will sign them when my lawyer is here and after the buildings' evaluation."
"Alright. I'm done with the papers and the appraiser is ready."
"Very well, let's go check out the buildings," Silas said, as he stood up.
Mr Brandon also stood up and the both of them walked out of the office.
When they got to front desk, a middle-aged man walked towards them and shook Mr Brandon's hand.
"Mr Silas, this is the appraiser, Mr Patel," Mr Brandon said as he introduced the middle-aged man.
Silas nodded and shook Mr Patel's hand, and they exchanged greetings.
"Mr Silas, do we take my car?," Mr Brandon asked.
"I came with mine. You and Mr Patel drive ahead, I will follow behind," Silas replied.
"Alright," Mr Brandon said, and they walked out of the building.
When they got outside the building, Mr Brandon saw Silas walk towards a Bugatti and smiled.
To be honest, he was doubtful of Silas when he said that his budget is huge, but when he saw Silas' car, he knew that he was the one thinking too much.
Curiously, he looked at the Bugatti closely, trying to know its model and he couldn't help but pause in shock.
'Wait… Isn't this the Bugatti La Voiture Noire, the only of its kind and was said to have been sold to an unknown person for a record-breaking price of mor
e than $18 million? ....Is Mr Silas the unknown buyer or was another one created for him?'
'No, even if it's the same car or another one was created for him, the important part is that Mr Silas can buy a Bugatti.'
Mr Brandon was shocked when he thought of this, and a chill ran down his spine. He didn't pay much attention to Silas before, but now, that has changed.
With a stiff smile, he walked towards his car and got in, and Mr Patel also got in.
*****
Silas was already back home after he had gotten the buildings evaluated.
The branch office of Summit Realty Group in Newport only has 11 apartment buildings for sale.
The buildings were the most expensive ones the branch has and their prices varied from $18-32 million.
The total cost of all the buildings is $276 million and their total evaluation is $289 million.
Which means if Silas is to buy these buildings, his mission section will display this:
[Mission Progress: 28.9% (Evaluation: $289 million)]
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