by Gayle 12 Replies latest jw friends
What a great buisness model. 1) Buy rundown property 2) Renovate it with free labor 3) Sell it a few years later for huge tax free profits. 4) Repeat |
Think it is referred to as 'flipping property', though generally done at a faster pace. Who will they be able to flip the compound to?
" The scope of the church's holdings is massive, 3.2 million square feet, more than the Empire State Building. It's being valued at more than $1 billion "
The only winners in all this is the Society itself with a freshly liquidated billion dollars to invest, and or course the city, who couldn't collect their property taxes. I'd imagine that the move when it comes will give the Society a more convenient excuse to disperse with the elderly citizens of Bethel, telling them there's either no space for them in the new facilities or that Jehovah has made their jobs redundant with the new equipment and all. It's easier to evict someone when you sell the place and move.
