The Importance of Financing

At that time, we had about a dozen properties on the market that were flips. And even at a discount, it was very difficult to get rid of these properties because fundamentally nobody could get mortgages or it was extremely difficult to get mortgages. From sort of middle 2008 through to March 2009, that was the period when interest rates fell from 5.75 down to 0.5%. In the middle of that, we'd also started to look at commercial property, because that seemed to me to be the sort of next logical step in terms of progressing the property side of things.

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