NTT DC REIT IPO View and July Portfolio, Expenditure Update

July Update: Portfolio has grown admirably, in just a month, I have seen an increase of $50,000.I have taken a small profit off Yangzijiang financial as it is reaching my target price. As a few of my stocks reach my own intrinsic value for them, I am now searching for new undervalued contenders, one of which is the recent IPO'd NCC DC REIT that I will talk more later.Unitedhampshire US REIT has maintained its price at US$0.465.Dividend ReceivedYear to Date (July received Alibaba Dividend)USD: $3,760SGD: $13,414.50HKD: $28,000ExpenditureI have stopped posting on my Maybank credit card expenditure because it has always been hitting the $800 mark  monthly, resulting in an achivement of 6-7% cash rebate.NTT DC REIT Short AnalysisNTT DC REIT IPO at US$1 two days ago. Dividend wise, the REIT is guiding for 7.5 US cents.Debuking the "Tesla" concentration in NTT- Investors have highlighted a concentration risk where 31% of the data centre's property is leased to one tenant, likely Tesla and is up for renewal in 2030. A few may be worried of the concentration risk, recalling what happened to Digital Core REIT largest tenant bankruptcy which slashed DPU by 2 cents; however this is different. Digital Core REIT's tenant was in the business of subleasing the space to others for data centre services. Tesla, on the other hand, is in the business of AI and automative segment and needs the data centre space for operational and expansion requirements. It is not speculative as Digital Core's. Hence in term at the stage of IPO, both REITs' risk profile is inherently different.Possible Overcapacity of US Data Centre Space- This I acknowledge is a risk because too many data centres are now built worldwide. So let's see how this goes, but for now I am personally satsified with NTT DC REIT tenancy rate.Sponsor- It is NTT, which to me, is as good as Keppel and Mapletree on the global stage so I have no worries. The only difference is most of NTT's REIT assets are in USA which is of lower valuation and occupancy rate compared to Singapore's. This is where Keppel DC REIT shines. This also explains why Keppel DC REIT's yield is at 4+% while NTT is now going at 7%.With margin of safety, I am looking to buy it at US$1 or lower, because I want a 7.5% dividend on my capital invested. The IPO of this REIT is good in my view and anything US$1 and below is in the area of undervalued to me.Currently the share price remains at US$1 due to negative sentiments surrounding US REIT + Singapore investors memory of Digital Core. In the foreseeable future as I sell off stakes in existing positions of my portfolio, funds will be channeled to NTT DC REIT. Part of diversification and my plan to increase dividends to $60,000.