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Top 10 List for 2007
Hi Everyone! 2007 was a wonderful year, it was a year of cementing relationships, learning to adopt to new business models and also one of travel I was out of the county for about two months of the year. Thanks to everyone who looks forward to getting my Top 10 emails it is my way of keeping you all in my memory. Please write back with your news my inbox is always receptive to your messages!
Cheers,
Biren
10. Trip to Shanghai, Hong Kong and Taiwan. Shanghai is amazing the energy and bustling entrepreneurship as China transforms itself into a developed nation is breathtaking. Shanghai will make Tokyoseem small when it is done. It already makes the Bay Area seem like a ghost town. Thanks to Yu-Fens cousin Sofia for letting us stay with her Im sure youll be happy to return to Taipei we are hoping though that Adidas sends you to another foreign assignment Beijing perhaps? Well visit!!!
9. Chance Meetings. Well it happens every year that something unexpectedly good happens. This year it turned out that Arshad was in India and I stayed with him and his parents (and their maid) for 4 days in a very nice high rise development just outside Delhi. Arshad showed up to an event that we had to celebrate see ITEM #2 below. It was also happenstance that I ran into several people in India, who live(d) with us on Long Island Sukhdev uncle, Vasu auntie (almost Gira auntie), Mahendra Uncle and Auntie. Also chance happening that my cousin Pratik who lives in Detroit happened to be in Taipei and joined us as we were celebrating Yu-Fens fathers birthday it is a small inter-connected world
8. Home. After being away for the month of November it was GREAT to come home to California. As much as travel is exciting the Bay Area has to rank as one of the best places on the planet to live. Forget about the housing problems for a moment and you still have the climate, the clean environment, plus all the attractions within a days driving distance. Peter and Wu-Lan gave us a nights stay at the Napa Marriott. Napa is a short 40 minutes away from my house and it was the perfect way to unwind for a weekend and remind me why there is no place like home... (Peter and Wu-Lan we have a very nice bottle of Napa Valley wine for you when you return from your travels).
7. Sandalstone. Well I have managed to keep myself gainfully employed for 4 years now. The residential real estate market is going through massive pains I am immensely grateful to ALL the people who helped with the business esp. (my dad, and Hemant to name but two). We are at the point in the cycle where it doesnt pay to build and then sell. However a new business model is emerging. Rents are UP as people cant buy, asset prices are down.
This years accomplishments included selling two affordable housing units, allowing us to bank the gain for Henry II Developers, LLC. Yu-Fen and I finished restoring a historical development the Shorey House, www.shoreyhouse.blogspot.com Yu-Fens design is excellent and Essi managed the construction well. It is the market that is lousy. From a business standpoint, I have made the decision to re-finance and rent out at least two of the units, maybe all of them. This approach has its benefits (tax and cash flow with expected long term appreciation) and it is my hope that I can put together other investments that apply this model. Thanks to those of you who have invested with me more opportunities lie ahead!
(Please let me know if you are interested in learning more as I am planning on starting a distressed property buy and hold fund in 2008).
6. Yu-Fens sister JJ and nephews visit over the summer. It was quite an experience to host two 11 year old twin boys this summer. Besides the universal male love of video games, we did fun boy stuff like playing Frisbee golf, picking apples and generally causing mayhem much to Yu-Fen and her sisters dismay.
5. My brother and Karthiks summer in the Bay Area. If you are a baseball fan this was the summer to be in SF. Sameer and Karthik not only went to the All Star game, but also were on hand to watch Barry Bonds record breaking home run. I am grateful for your help, I hope we all learned a lot from each other. Thanks to Jaleel for his place in the Mission.
4. Trip to India. It was incredible returning to India after 14 years. India is developING but has not yet developED. Consider that Ahmedabad is a city of about 5.9 million people. Taipei is a city of about 6.4 million people. About the same size, Taipei has 4 subway lines that criss-cross the city and is modern in every conceivable way. Forget underground subways, Ahmedabad is installing its first road overpasses. Of course development happens in a very Indian way, which is to say that they get about 90% of the way there. One example, in the US when you develop a property the City ensures that the public improvements (ie curb, sidewalk, sewer, traffic lights, etc) are carried out by requiring that the developer posts a bond up-front. The final permit is not issued and the bond not released until the public works are completed. In India, even in the biggest developments, there is no such oversight. As a result, as soon as you step outside the landscaped environs of your development you are right back into the dusty, filthy public spaces. As much as I hate to admit the need for government, India needs to ensure that these externalities are absorbed into the private developments to ensure healthier conditions for all.
3. Trip to Jodhpur and Jesselmer (India Part Two). While in India we went on a journey with my parents, my aunt Usha (foi), my uncle Jitu (fua) and my cousin Neha. We traveled by car to the fort cities of Jodhpur and Jesselmer. Both cities are in the desert of Rajasthan which is named because it was ruled by Rajs before (and during) British rule. The Rajs built forts and palaces that rival those in Europe in fact they used the same designers. Among the highlights were staying in a tent in the desert and racing camels. We also celebrated Diwali and it was nice to get to spend time with my family. Neha you know what I wish for you!
2. My engagement!!! Yu-Fen honored me by agreeing to marry me. The proposal took place in India I tried to convince her that we were going to someone elses party and thus we were decked out in traditional Indian attire. I proposed to her right before the party (on one knee). Yu-Fen and I have lived and worked together these past two plus years, this just feels right. My parents organized a surprise party for us it was great to see so many of my relatives (about 150 people showed up so cant list them all) and make connections. We now need to figure out where and when to organize the events (engagement and wedding) without compromising too many of the Indian and Taiwanese traditions that we both value that will be 2009s top events Im sure. Anyone up for a wedding in Hawaii???
#1. As always, To all the people in my life who inspire me to do the things that make life worth living!
PHOTO LINKS:
(1) India- Mumbai & Ahmedabad 11/03-11/05
http://www.kodakgallery.com/I.jsp?c=e1qquaf.bzzyutsf&x=0&y=-fnbj7h
(2) India - Rajasthan 11/6 -11/10
http://www.kodakgallery.com/I.jsp?c=e1qquaf.2ndsz2xb&x=0&y=-w43xri
(3) India - Ahmedabad, Baroda & Nadiad 11/11-11/15
http://www.kodakgallery.com/I.jsp?c=e1qquaf.7338higf&x=0&y=-xxkg7c
(4) India - Yu-Fen (Nina) & Biren's Ring Ceremony 11/15
http://www.kodakgallery.com/I.jsp?c=e1qquaf.8pm9cbdr&x=0&y=-auzxvj
(5) India - New Delhi & Taj Mahal 11/17-11/18
http://www.kodakgallery.com/I.jsp?c=e1qquaf.b4o3csfz&x=0&y=-h0z8ls
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