It began with an e-mail.
The sender said he is a businessman writing from Singapore after reading about a more than $8 million foreclosure in this blog.
This Mr. “X” wanted details and in a subsequent telephone conversation disclosed his plan of buying more such properties in Manhattan to “park” cash with no expectation of an immediate return.
The property he wanted is in foreclosure for more than $8 million. That wouldn’t be a bad sale for me, even at half that sum.
But my antennae were up.
Having a contact like the e-mail (more…)