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It’s supposed to generate income, and from that income, pay out dividends. He has investors the same as any regular corporation. This is separate from his personal holdings because of the REIT 5/50 investor rules. Trust me, this is about as complicated as you can get. But the bottom line is that he needs additional income because an REIT has to derive at least 75% of its gross income from rents or mortgage interest. He’s below that.”“Is this a good deal for me?” I asked.“You are, in effect, paying above market value for the new building, but given the size of your current note, you won’t be upside down. Your monthly debt to service the note will be about the same. Your taxes will be lower because of some tax incentives from the city for redevelopment in the area. You’ll have a much larger space, and, in theory, the value of the property should increase as other development occurs, though obviously that’s not guaranteed.”“Bruce; yes or no?”“A qualified yes,” Bruce answered. “Qualified. Elaine told me to wait where I was and announced that she was going tochange in disappeared into her bedroom. I sat and waited on the couch andfound myself turning my ankle as I saw other women do when wearing highheels shoes in public. As I sat there, I took stock of my situation. Icould taste the lipstick on my lips smell a hint of perfume that wasspritzed on to me by Elaine, and enjoyed the feeling of the pantyhoserubbing against the lining of the leather skirt. I shook my head slightlyenjoying the way the wig cascaded down my shoulders and slightly obscuremy vision from side to side. I then examined my new feminine nails,painted bright red and shaped with a file to a decidedly feminine angle.I heard Elaine emerge from the bedroom and walk down the hall. I heardthe tap of her high heeled shoes on the hardwood floor, and waited withanticipation to see what she had dressed in. I was not disappointed,Elaine stood in front of me in a black cotton dress with a diagonalzipper that went.
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