PPJ Healthcare Enterprises Inc (PPJE)

[Ed the Trader]

Ba-Suit's mortgage must be due this week.

On this topic, I did a bit of checking around, and I found out some information about our CEO's personal lifestyle. I was curious to see how she lives on our dollars.

From Chandana Basu's personal bankruptcy case, filed 08/09/2010:

U.S. Bankruptcy Court
Central District Of California (Riverside)
Bankruptcy Petition #: 6:10-bk-35181-TD

http://www.freecourtdockets.com/dockets/chandana-basu-closed-6-10-bk-35181-california-central-bankruptcy-court-docket.html

I found that Basu's address is:

Chandana Basu
2225 N 1st Avenue
Upland, CA 91784

The city of Upland, California is a suburb of Los Angeles that resides in San Bernardino County.

The web page for looking up property tax for the San Bernardino County Tax Collector is:

http://www.sbcounty.gov/atc/Documents.aspx

You will find this line of hotlinked text near the top of the page:

"Pay your property taxes online - click here to proceed to the Tax Collector online payment website."

If you click on the link and you are taken to the property search page:

http://www.mytaxcollector.com/trSearch.aspx

So, I entered Basu's address:


I thought it was rather funny that the web site enforces CA Govt. Code Sect. 6254.21 to not provide the address of the property when I provided the address as the search criteria.

Anyway, the web site DID confirm that Chandana Basu is the sole owner of the house:


Looking up the house on Google Maps, it looks like this from the air:


Standing in the street in front of the house, it looks like this:


Closer in to look at the house better, it looks like this:


If you look close, behind the black iron gate, in between the two vehicles in the driveway, you can see what is likely Chandana's infamous Mercedes:


Street level views of Basu's house are from November 2011.

Aerial view of Basu's house is from 2013.

From the aerial view map scale, we can see how much 20 feet is.

From that, we can measure that Chandana's lot size is about 205 feet by 85 feet, or about 4/10 of an acre. Using the same map scale, you can figure Chandana's house to be about 40 feet by 40 feet, and with it being 2 stories, and you take away some square footage for the garage and the large roof overhang on the entrance, and her house probably is about 3,000 square feet.

The taxable value of the house is $393,299.00. Of course, taxable value is usually a good bit under market value, so let's say that the market value of Chandana's house is somewhere in the neighborhood of $400-450K.

Because the recording date of the tax record is 1996, that is probably when she bought the house. If she got and held a 30 year mortgage, she likely has 12 more years of payments.

It is possible that Basu has other properties, but because this was the property listed in her bankruptcy paperwork, this is almost certainly her primary (if not only) residence. In a personal bankruptcy, the filer is normally only allowed to retain one residence, so it is unlikely she would have listed a non-primary residence as her address in a bankruptcy filing.

All in all, I don't really see anything unreasonable here. Certainly, a $400K house would qualify as a mansion in small town middle America, but this is suburban L.A., and although that value of house certainly qualifies as a nice house, the value is not unusual for a house located in a suburb of any large metropolitan area.

Not that Chandana Basu requires it, but everything about this has my approval. This situation is not like I found that she lives in a 50,000 square foot mansion on her own private island surrounded by a gorgeous white sand beach populated by dozens of naked supermodels running around on it.

(Oh wait... that would be MY fantasy...)