To go along with his Lebron purchase..
http://www.crainsdetroit.com/article/20140711/NEWS/140719974/gilbert-buys-former-globe-tobacco-co-building-for-3-3-million
To go along with his Lebron purchase..
http://www.crainsdetroit.com/article/20140711/NEWS/140719974/gilbert-buys-former-globe-tobacco-co-building-for-3-3-million
He keeps on buying Detroit.
Welcome to Gilberttown, A Delta City wonder.
Very nice purchase!
I wonder how many of his purchases are mortgaged?
ZERO, he know how bad of a deal a mortgage can be.Quote:
Originally Posted by Malcove Magnesia
That's interesting.Quote:
Originally Posted by DetroitPlanner
As the properties are bought by Bedrock [[or whatever the property owning arm of Quicken Loans is), Bedrock isn't a billionaire [[insert Corporations AREN'T People* rejoinder here - Bedrock doesn't have Gilbert's personal wealth, it has access to some of Quicken Loans' assets).
I assume most every big purchase, expansion, etc. these days are financed by corporations using bonds, stocks, etc. as source of capital.
* BTW, when I was in business school decades ago, I though I learned, unbeknownst to Mitt Romney, that individual took a business that started as a sole proprietorship or partnership and incorporated it - as corporations are treated much, much, much differently than enterprises owned by individual[[s).
Sure lot had to do with selling stock, etc. and a lot with potential liability in the case of bankruptcy, lawsuits, etc. [[i.e., you can sue my company but you can't touch my assets personally).
I haven't kept up with LLC, etc.