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SVTPerformance's Chain of Restaurants
Road Side Pub
Hotels and homelessness
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<blockquote data-quote="Klaus" data-source="post: 16988354" data-attributes="member: 190070"><p>I have looked at buying receivables from hotels relating to housing homeless. NYC has a clause in their city charter that all citizens are entitled to shelter. The result is that the city is required to pay hotels to put homeless up. </p><p></p><p>They pay with a receivable, which the city settles in 90 days. The hotels charge the rack rate, which is several times more than what they charge paying customers. The hotel then sells the receivable at a ~15% discount to guys like me. I get a investment grade receivable at >60% IRR. The hotel still makes >250% per room what they normally charge. </p><p></p><p>This program is costing NYC billions of dollars a year and it is going straight into the pockets of hedge funds LOL </p><p>[URL unfurl="true"]https://www.cbsnews.com/newyork/news/new-york-city-asylum-seekers-housing-vouchers-proposal/[/URL]</p></blockquote><p></p>
[QUOTE="Klaus, post: 16988354, member: 190070"] I have looked at buying receivables from hotels relating to housing homeless. NYC has a clause in their city charter that all citizens are entitled to shelter. The result is that the city is required to pay hotels to put homeless up. They pay with a receivable, which the city settles in 90 days. The hotels charge the rack rate, which is several times more than what they charge paying customers. The hotel then sells the receivable at a ~15% discount to guys like me. I get a investment grade receivable at >60% IRR. The hotel still makes >250% per room what they normally charge. This program is costing NYC billions of dollars a year and it is going straight into the pockets of hedge funds LOL [URL unfurl="true"]https://www.cbsnews.com/newyork/news/new-york-city-asylum-seekers-housing-vouchers-proposal/[/URL] [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Hotels and homelessness
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