Real Estate Investing in New York City: A Handbook for the Small Investor (9780595277421): Robert Lewis: Books
It’s Saturday! That means it’s time for Burbed’s book of the week!
Amazon.com: Real Estate Investing in New York City: A Handbook for the Small Investor (9780595277421): Robert Lewis: Books
Real Estate Investing in New York City: A Handbook for the Small Investor (Paperback)
~ Robert Lewis (Author)
Key Phrases: amortization portion, leasehold mortgage, store tenant, Real Estate Investing, New York City, Brooklyn Heights
Learn Advantages of real estate investing over other investments, like leverage, inflation hedging and tax benefits
Understand the New York City area real estate market like an expert
Pick which real estate investment suits you –
Strategies from conservative to aggressive, lots of time or little time, plenty of funds or almost no fundsDiscover what areas of the city offer the best prospects for success
Did this week’s features of New York real estate make you salivate at how cheap it is?
Well, with this book, you can have no money or some money. You can have passive, aggressive, or passive aggressive. no matter what your situation in life is, this book will help you invest and make money in New York real estate.
Sure you probably won’t be as successful if you bought in… say… Redwood City… and you may need to deal with the horrors of buying in a co-op (just ask Madonna how well that went) – but hey you never know.
Just remember though, before you leave the Bay Area, be sure to help this site out! Click this link to learn more!
December 19th, 2009 at 10:41 am
Bankrate.com: ‘Tis the season to buy a home
December 19th, 2009 at 11:52 am
Yep, tis the season in places like Florida.
Can somebody explain why buying when prices are high (in that they are expected to drop from their current levels) and interest rates are low is smart? That’s actually the worst time to buy but realtors have spewed this garbage so frequently it is almost as if it has become accepted investment advise.
When rates are low (as they are now, artificially low), they can only go up, which will push prices down. Thus person who buys now thus has negative equity with no means to refinance and is basically stuck in their home until prices go up, which if rates stay the same can only happen if and when wages go up (real or nominal). Of course you are also stuck paying property taxes at the higher purchase price.
It’s smarter to wait for rates to rise and prices to correspondingly fall. Your purchase price (debt) is less, your property taxes are lower, the chances of getting below water is greatly reduced, and you can refi when rates drop.
I just don’t see how buying high when interest rates are low makes any sense.
December 19th, 2009 at 12:15 pm
#2: Please leave all logic at the door before entering Burbed…
December 19th, 2009 at 12:42 pm
Bankrate.com: ‘Tis the season to buy a home
—–
Every season is to buy a home. It’s ALWAYS right time to buy a home. It’s ALWAYS great time to buy a home. It’s ALWAYS perfect time to buy a home. It’s ALWAYS awesome time to buy a home.
December 19th, 2009 at 1:24 pm
Buy high and sell low, everyone’s doing it! You saying your neighbors, real Americans, are wrong? What are you, Anti-American?
December 19th, 2009 at 4:16 pm
It is the American dream to line the pockets of the rich by choosing a life of indentured debtitude!
December 19th, 2009 at 5:03 pm
To a certain type of person, it’s never the right time to buy. There’s always a convenient excuse.
For examples:
- The price is too high
- The price has dropped, but will drop more
- Downturn is always in the future, etc.
December 19th, 2009 at 5:18 pm
Yes, and for some, it’s always the right time.
RE, where and when did you purchase your investment property?
December 19th, 2009 at 6:05 pm
To a certain type of person, it’s never the right time to buy. There’s always a convenient excuse.
—–
I know, I know! There is always excuses, like:
- waiting for government lifts the jumbo loan ceiling
- holiday season
- waiting for dust to settle
December 19th, 2009 at 8:44 pm
I bought my home more than 6 years ago, dude.
December 19th, 2009 at 8:57 pm
Not your home, the second “investment” property you said you were going to buy over a year ago, dude.
December 19th, 2009 at 9:37 pm
R,
Let’s pick up on this conversation after you buy your first starter home.
December 19th, 2009 at 10:11 pm
What difference would that make? You’ll still be unqualified to participate in the discussion, re.
December 19th, 2009 at 10:12 pm
anon,
Done your Christmas shopping yet?
December 19th, 2009 at 11:29 pm
I bought my home more than 6 years ago, dude.
—-
And we know rest of the story. Then you started claiming yourself real estate investor.
December 19th, 2009 at 11:30 pm
Let’s pick up on this conversation after you buy your first starter home.
—–
Let’s pick the conversation after you buy your “sweet spot”.
December 19th, 2009 at 11:37 pm
Not your home, the second “investment” property you said you were going to buy over a year ago, dude.
—–
A year ago? He is talking about it since March 2008.
And not only that, since then he started talking about his investment model too. Only one problem – there is no real investment in investment model. I guess that’s why he call it “model”.
December 20th, 2009 at 2:11 am
That “investment model” is hilarious.
RE’s plan is to rent out a house in Palo Alto where the mortgage isn’t anywhere close to rental parity. Meanwhile, hoping that price appreciation would net him gains. Let’s take note that PA price/sqft has dropped substantially, from $100/sqft to $200/sqft since 2008 (and likely to drop more in 2010) so he would’ve lost money as a landlord -and- also suffered a lower assessment on the value of the house.
It’s like a retarded person’s view of how to make money in real estate after skimming a book from Rich Dad Poor Dad but with the self assurance of someone completely unable to come to grips with his ignorance.
December 20th, 2009 at 9:43 am
Actually the funniest line in his “investment model” is:
“I only invest in places where property values ALWAYS go up.”
Most of the investor would like buy an asset (not just real estate) that goes up in value for some period of time. So telling the obvious is not an effective way to brag about “investment model”.
No wonder he is having hard time to find his “sweet spot”.
December 20th, 2009 at 9:44 am
Correction: Most of the investor would like to buy an asset…
December 20th, 2009 at 10:51 am
“R,
Let’s pick up on this conversation after you buy your first starter home.”
Why? You are the one that for over a year has been saying that now is the time to buy and were in fact going to do so yourself. What does anybody else’s situation have to do with that?
And since you seem interested, I do own property. It’s not in the Bay Area.
December 20th, 2009 at 11:02 am
Mike says,
Let’s take note that PA price/sqft has dropped substantially, from $100/sqft to $200/sqft since 2008 (and likely to drop more in 2010) so he would’ve lost money as a landlord -and- also suffered a lower assessment on the value of the house.
I suggest that you contact the Mercury News immediately. This is newsworthy. LOL…
December 20th, 2009 at 11:03 am
R,
I think Bob would be especially interested in hearing about your out-of-state property. How many feet of snow is it under now?
December 20th, 2009 at 11:15 am
None. And who said it’s out of state?
December 20th, 2009 at 11:17 am
So what’s the hold up on your second property RE? You’ve already missed the bottom, right?
December 20th, 2009 at 11:27 am
“And not only that, since then he started talking about his investment model too. Only one problem – there is no real investment in investment model. I guess that’s why he call it “model”.”
Well said.