Recommendation: 2 Years to a Million in Real Estate
It’s Saturday again, and means it’s time for Burbed’s book of the week! Let’s take a look at this one:
2 Years to a Million in Real Estate
Holy moley!
Let’s face it, times are tough these days and there aren’t quite as many hot jobs in the Valley right now. Sure there are plenty of C-level, VP, Director+ management jobs available – but Burbed is a site for all people. Execs and non-execs.
For you non-execs who might be struggling, for fresh college grads, with this book you can quit your day job and become a MILLIONAIRE PROPERTY OWNER!
Hey that’s great ‘cuz you don’t have a day job! You’re half way to becoming a millionaire already!
Don’t believe me? Let’s look at a professional review:
“This is the success story of an ex-dot-com employee who got tired of working long hours at a great job for 10 years and watching his fellow workers lose their jobs. He accidentally discovered real estate’s market-value appreciation, leverage, tax savings, cash flow, reliability and freedom from a 9-to-5 workday. In the process, he became a multimillionaire, and he shows readers how they can have the same result.” — Bruss, Robert J. San Francisco Chronicle. 20061208
If this book doesn’t speak to Valley readers, I don’t know what does.
Click the link and buy this amazing book today. Give it as a gift for graduation come this Summer. (Or just click the link and buy anything to helped Burbed out!)
March 21st, 2009 at 8:59 am
The ponzi scheme is over. Everyone, back to school and back to work!
March 21st, 2009 at 1:05 pm
Wait a minute, Joe. Everyone knows the secret to making a million in Real Estate. Buy a two million dollar house for all cash and wait for the bubble to pop. Presto! Instant equity burn! You now own a million dollar house!
March 21st, 2009 at 1:36 pm
More good news! Silicon Valley set to SOAR by kicking out even more deadwood! SV Jobless rate hits 10% for first time since 1990!
Yup those 92,800 people are doing their part for the recovery!
“Economists said the job-loss numbers in part reflected a declining demand for the valley’s products as a global recession trimmed orders, especially in the chip industry.”
What do economists know? Stupid made-up field that calls itself a science and is really not much more than tea-leaf reading using shredded hundreds. Besides, I bought two bags of chips just yesterday.
March 21st, 2009 at 1:55 pm
Excerpts from the article:
But while job losses are deepening in Silicon Valley, “on percentage terms, they are less than almost any area this size,” said Stephen Levy of the Center for Continuing Study of the California Economy. In fact, he said, the long-term outlook for the region is good.
“It won’t be this year. But Silicon Valley looks to be in a strong position for a national agenda that’s moving toward the application of technology and creativity to the world’s problems. It’s not going to be helping anybody in 2009, but the national agenda moves toward the valley’s strength,” Levy said.
Good news indeed.
March 21st, 2009 at 3:20 pm
“Excerpts” < someone’s learning something on this site after all
March 21st, 2009 at 3:28 pm
“Excerpts” < someone’s learning something on this site after all
Someone needs to learn to use the word “cherry-picked” with the word “excerpts.”
March 21st, 2009 at 4:00 pm
Excerpts from the book of anon:
Silicon valley sucks.
March 21st, 2009 at 4:03 pm
> Excerpts from the book of anon: Silicon valley sucks.
Does somebody need a hug?
March 21st, 2009 at 4:28 pm
No way – I like it here.
March 21st, 2009 at 7:41 pm
“on percentage terms, they are less than almost any area this size,”
WTF? The national unemployment rate is less than 10%… (cue hick accent) now maybe I ain’t no math whiz but that just doesn’t make sense.
Maybe the writer meant the rate of job losses? Then that means we took a dive faster than other areas and things are leveling off.
March 21st, 2009 at 9:28 pm
Look at all the smart people from the Bay Area being recruited by the Obama administration:
http://www.mercurynews.com/topstories/ci_11967631
March 21st, 2009 at 10:19 pm
I can already tell this book is great! Look at it! It’s purple with sort of yellowish-gold writing and highlights! And a red badge sorta thing! Just like the first-generations Rich Dad Poor Dad Books! I bet the author uses lots of exclamation points! And exclamation points can make you rich!
Yes, the U3 unenployment rate is over 10%. The real unemployment rate is the U6 rate, you can find that at Shadowstats, and it’s about double U3. Yep we’re actually around 20%, the last Great Depression it was 25% of course but …. we’re getting there! In fact I think we can get it higher! We’ll be No. 1!!!
March 21st, 2009 at 10:22 pm
It’s Price Check time. I’ve talked about many of these in the past months:
1031 Fulton Street, Palo Alto 94301
List: $1.1M
Sold for: $1.205M
Sale date: 3/13/2009
$1004/sq. ft.
720 Holly Oak, Palo Alto 94303
List: $1.398M
Sold for: $1.41M
COE date: 3/12/2009
207 Ferne Ave., Palo Alto 94306
List: $1.299M
Sold for: $1.375M
COE date: 3/4/2009
3359 Bryant St., Palo Alto 94306
List: $1.049M
Sold for: $1.1M
COE date: 3/5/2009
Overbidding is everywhere in Palo Alto! No downturn here!
March 21st, 2009 at 10:46 pm
let’s see, off the top of my head…
750 Holly Oak Dr
Palo Alto, CA 94303
LAST SALE: $1,653,000 (06/27/2008)
443 Ferne Ave
Palo Alto, CA 94306
LAST SALE: $1,795,000 (08/22/2008)
yep, things have never been better in Palo Alto.
March 21st, 2009 at 10:56 pm
Steve,
The only thing in your head is the peak of the peak of the bubble, which applied to a very small number of transactions. Get it out of your head to make room for more useful stuff.
March 21st, 2009 at 11:24 pm
So now you admit, in as many words, that there was a bubble in Palo Alto. And we both know what happens to bubbles.
March 21st, 2009 at 11:39 pm
>>So now you admit, in as many words, that there was a bubble in Palo Alto.
I meant the national housing bubble in general. The “peak of the peak” in Palo Alto was too brief to be called a bubble. Those prices were indeed too high.
March 21st, 2009 at 11:44 pm
sonarrat,
Let me make another point regarding a “bubble”. Once a bubble pops, you never get it back. That’s the case with most markets, but not Palo Alto. No matter what price you pay in Palo Alto, you will see it climb even higher with time. By definition, if it never pops, it’s not a bubble.
March 21st, 2009 at 11:57 pm
If it had not popped, you would not see prices dropping.
You are seeing prices drop. It popped.
March 22nd, 2009 at 12:16 am
anon,
That’s why you’re a dumb amateur. You can’t tell the difference between a bubble popping and market fluctuations. As I already explained, when a bubble pops, prices won’t ever come back to the bubble level. Say you bought a home in Las Vegas, Phoenix, or Riverside, you pretty much got killed. The price you paid was a once in a life time event. That’s not the case in Palo Alto, where the price you pay always seems high at the time of purchase, and always seem like a bargain a few years later.
March 22nd, 2009 at 12:32 am
Life outside the “Green Zone”:
http://abcnews.go.com/US/wireStory?id=7142651
http://www.paloaltoonline.com/news/show_story.php?id=11679
http://www.mercurynews.com/topstories/ci_11954807
Can you afford to be out there?
March 22nd, 2009 at 7:03 am
To paraphrase RE: “‘Tis but a flesh wound!”
RE: Thank you so much for spending time on this site. Please don’t ever leave : )
March 22nd, 2009 at 9:15 am
Overbidding is everywhere in Palo Alto! No downturn here!
———-
RealEstater,
To qualify your statement (spcially “everywhere” part), you need to provide some more info:
- What is the percentage of properties sold over asking price? Months back you used to brag about LP/SP. How come you do it anymore? Because it is no longer above 100?
March 22nd, 2009 at 9:26 am
Say you bought a home in Las Vegas, Phoenix, or Riverside, you pretty much got killed. The price you paid was a once in a life time event. That’s not the case in Palo Alto, where the price you pay always seems high at the time of purchase, and always seem like a bargain a few years later.
—–
I bet years back the same thing has been said by housing bulls from Vegas, Phoenix, Riverside. Or Sacramento. Remember that Ryan Jessup guy? He said the same thing about his Real Sacramento (aka Oak Park).
March 22nd, 2009 at 9:30 am
As I already explained, when a bubble pops, prices won’t ever come back to the bubble level.
——
LOL! After admitting there was a bubble, RealEstater denies it by redefining bubble.
March 22nd, 2009 at 9:33 am
The “peak of the peak” in Palo Alto was too brief to be called a bubble. Those prices were indeed too high.
—–
So which year do you consider as the baseline for your Palo Alto bubble? And when did the bubble end?
March 22nd, 2009 at 10:58 am
Pralay,
I don’t think we can have a meaningful conversation unless you are in touch with the real estate market. Will you take some time out this afternoon to visit a few open houses? I’m sure it’s going to be more productive and educational than trolling on Burbed.
March 22nd, 2009 at 10:59 am
Please give us a report when you’re back, so that we know you actually went.
March 22nd, 2009 at 11:45 am
I don’t think we can have a meaningful conversation unless you are in touch with the real estate market. Will you take some time out this afternoon to visit a few open houses? I’m sure it’s going to be more productive and educational than trolling on Burbed.
—-
Translation: As usual I am not going to answer #26 with specificity. Instead I will change the subject with an excuse of “meaningful conversation”.
March 22nd, 2009 at 12:45 pm
Translation of #29: As usual I will not go to any open house. Instead, I’d rather be talking shit on Burbed.
March 22nd, 2009 at 7:19 pm
Translation of #29: As usual I will not go to any open house. Instead, I’d rather be talking shit on Burbed.
—–
Ok, let’s see who is actually talking shit. So, what is your point, RealEstater? If I go to any open house and see there are 100 visitors, it proves that RBA real estate market is great? Is that your point? It seems that what you implied a few days back:
Your latest argument is simple: there are many visitors in open houses, therefore market is great. What a simpleton! Let’s revisits some argument you made in past to prove that RBA market was in great shape. One well-known argument was of course SP/LP.
In May 2008:
In June 2008
Or even in November 2008!!!!!!!!!!!!!!!:
Those were your bullshit arguments: SP/LP is above 100 (or overbidding everywhere), therefore RBA market is doing great.
What are the Cupertino and Palo Alto SP/LP now? 106%? Or way below 100? As those SP/LP numbers do not work for you anymore, you departed from your previous argument. Now your new argument is: Indian and Chinese visitors in open houses.
Let’s reread your NEW argument:
Despite higher than normal inventory in Palo Alto – in the heart of RBA? If there are so many visitors (potential buyers) in open houses, then why is the inventory higher than normal? Because those visitors are not buying? Because number of visitors also dropped compare to 2006 or 2007 or 2008 (lower than normal) and that’s why inventory is also higher than normal?
So who is talking shit? The simpleton who is trying to claim that RBA market is great with dubious reasoning? Or me? In past your touting of SP/LP to prove market condition was bullshit. Your touting open house visitors to prove market condition is bullshit. And your new argument three month down the line (when visitor count won’t support your argument anymore) will be bullshit too.
March 22nd, 2009 at 7:33 pm
So Pralay, after all the deflections, did you go to any open house today?
March 22nd, 2009 at 7:36 pm
Why would he go hang out with a bunch of sleazy realtors and idiot knife catchers?
March 22nd, 2009 at 7:37 pm
Pralay,
What is driving your fear of open houses? Is it:
1. Not wanting to face market reality?
2. Afraid of realtors asking you, “So what price range are you looking in?”
3. Afraid of showing you are not management class material?
March 22nd, 2009 at 7:37 pm
oh, and interested neighbors.
March 22nd, 2009 at 7:39 pm
or is it fraid of answering the question, “So where do you live currently?”
March 22nd, 2009 at 8:06 pm
“or is it fraid of ”
Good one, excreter. You are aware that you are stupid, right?
March 22nd, 2009 at 8:12 pm
What is driving your fear of open houses? Is it:
1. Not wanting to face market reality?
2. Afraid of realtors asking you, “So what price range are you looking in?”
3. Afraid of showing you are not management class material?
———-
LOL! “Fear or open house”! Are you talking about hauted house? Or Winchester Mystery House? What makes you think I would waste my Sunday going to open house?
BTW, going to open house has no relation with market reality. 20% haircut in Palo Alto – that’s the market reality. And I don’t need to go to open house to know that.
March 22nd, 2009 at 8:18 pm
Good one, excreter. You are aware that you are stupid, right?
————
Anon,
You are right. If #34 demonstrates anything that would be his stupidity.
March 23rd, 2009 at 8:39 am
Pralay,
I’m just exposing your insecurity. Looks like you even need to latch on to another guy for support.
March 23rd, 2009 at 8:49 am
Can’t answer #26? Or meaningful rebuttal of #31?
And we all know what #42 is going to be.
March 23rd, 2009 at 9:23 am
Exposing his insecurity?
Excreter, you are the one who thinks that if you die without property, you die a nobody.
Let me assure you: You will die a nobody no matter how much property you have.
March 23rd, 2009 at 10:11 am
Exposing his insecurity?
———
Anon,
Give him a break. To him going to open house is like going to blind date. He needs lots of mental security.