July 11, 2009

Real Estate Debt Can Make You Rich: What You Owe Today Is What You Will Be Worth Tomorrow – Steve Dexter

Real Estate Debt Can Make You Rich: What You Owe Today Is What You Will Be Worth Tomorrow

One of Robert Bruss’Top 10 Real Estate Books of 2006

“Reveals mortgage-lending secrets most home buyers, realty agents and investors have never heard before. On my scale of one to 10, this superb new book rates an off-the-chart 12.”
(Bruss, Robert J. Inman News Features )

Product Description

LEVERAGE THE LOANS AND FINANCING THAT CAN GIVE YOU BIG PROFITS!

You don’t have to wait for years saving up your first down payment before you start investing in real estate. Instead, you can put up a small percentage of a down payment and let a loan from the bank finance the rest. When it’s time to sell, you pay the bank for the original loan, and any profit goes right in your pocket.

But even seasoned real estate investors need a guide to help them through the maze of different loan products and financing options that banks offer. Real estate finance expert Steve Dexter takes you into the hidden world of leveraged investing-essentially using “other people’s money” to earn massive profits. With simple, straightforward advice, this book…

* Offers strategies for minimizing a down payment in order to maximize investment return
* Simplifies all tax issues related to real estate debt
* Gives strategies on making yourself more creditworthy
* Provides bonus insider advice on how to find the best properties

Thanks to Burbed reader Real Estater for this book recommendation.

Let’s face it, anyone who has studied corporate finances knows that debt is often a critical tool in ensuring your company is run in the most efficient matter. And are most families companies these days?

So lever up! Use OPM (there’s that word again) to maximize your cash flow and shield your income from taxes. Frankly, I think families should be able to IPO, but that’s another rant for antoher day.

Has anyone read this book? The idea of borrowing tons of money to become rich makes perfect sense in the Bay Area economics. Take than Krugman!

And when you do become rich, if you’re looking to help this site out, click this link to learn more!

Comments (4) -- Posted by: burbed @ 5:27 am






July 5, 2009

Flash from the past: Silicon Valley's New Record Home Price — $750,000

Realty Times – Silicon Valley’s New Record Home Price — $750,000

Silicon Valley’s New Record Home Price — $750,000
by Broderick Perkins

Three quarters of a million dollars; $0.75 million; $750,000.

Anyway you write it, April’s median price of single-family detached homes in Silicon Valley comes out the same.

“It’s crazy,” says Mark Burns, a Coldwell Banker agent in Cupertino.

The good news is that most experts say the market has just about peaked — for now — at the region’s new record price level for single-family detached homes, $750,000 — up a whopping $86,000 this year alone and $132,000 in the past year.

The median price for condos came in at $465,000 in April, up only $55,000 since the beginning of the year, and $80,000 from a year ago, according to the Bay Area Real Estate Market Newsletter by Richard Calhoun, broker owner of Creekside Realty in San Jose.

[snip]

“People come here from all over the world, not just all over the country. There’s an explosion in first time home buyers, baby boomers buying their second and third homes or smaller houses, immigrants, people going in together to buy homes. There are very favorable demographic trends, coupled with low interest rates and a finite number of homes,” Moles said.

Published: May 6, 2005

Recently I found this piece. Boy, it really brought back memories. <tears well up> I’m sorry. I’m all verklempt. Talk amongst yourselves. I’ll give you a topic. Facebook is neither a face nor a book. Discuss.

Comments (18) -- Posted by: burbed @ 5:16 am

June 28, 2009

Best Places to Live 2009 – Yahoo! Finance

Best Places to Live 2009 – Yahoo! Finance
Here’s our list of the 10 best places to live:

1. Albuquerque, N.M.

2. Auburn, Ala.

3. Austin, Texas

4. Boise, Idaho

5. Durham, N.C.

6. La Crosse, Wis.

7. Loveland, Colo.

8. San Luis Obispo, Calif.

9. St. Augustine, Fla.

10. Upper St. Clair, Pa.

Thanks to Burbed reader E.S. for sending this to me. Here’s what E had to say:

They have forgotten the RBA!  Where’s the culture, the access to VCs, and all the other… uhh.. benefits to living here… like how your school might shut down because a right wing state assemblyman from Fresno thinks life should be tax free…

hmm…

moving to Portland soon.

Ouch. Well have fun in Portland. Do they have Fry’s there? Do they have good schools like Monta Vista, Gunn, Sequoia, or Fremont there? Do they have VC’s up the wazoo? Can their light rail system compare with ours?

But back to the original topic, it’s a shame that this happens. We need to get our message to the MSM (Main Street Media) that they’re completely wrong if they should ever forget to include Mountain View, Palo Alto, Sunnyvale, etc in the list of best places to live.

Any one up for a letter writing campaign?

Comments (23) -- Posted by: burbed @ 5:53 am

June 27, 2009

The Housing Boom and Bust – Thomas Sowell

The Housing Boom and Bust

This is a plain-English explanation of how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The “creative” financing of home mortgages and the even more “creative” marketing of financial securities based on American mortgages to countries around the world, are part of the story of how a financial house of cards was built up—and then suddenly collapsed.

The politics behind all this is another story full of strange twists. No punches are pulled when discussing politicians of either party, the financial dangers they created, or the distractions they created later to escape their own responsibility for what happened when the financial house of cards in the financial markets collapsed.

What to do, now that we are in the midst of an economic disaster, is yet another story—one whose ending we do not yet know, but one whose outlines and implications are explored to reveal some surprising and sobering lessons.

It’s Saturday and that means it is time for Burbed’s book of the week.

Thanks to Burbed reader Butzi’s for this recommendation. It’s clear why this book was suggested – we in the Real Bay Area really need to do more to learn about the areas in the rest of America. The less fortunate areas, full of blissfully ignorant people, who don’t know what sushi is, or have never been able to experience the majesty of Fry’s.

Ideally we could invite Thomas Sowell over to the Bay Area so he could write about this amazing phenomenon. Perhaps it could be a sequel to his first book (“Basic Economics”) – he could call it “Paradign shifted economics.” Let’s face it, we have an economy here that defies all expectations. Whether it be $3 cupcakes, $500k condos in Mountain View, or Teslas, the economy here is rocketing forwards. It is the classic example of a perpetually New model of economics.

Finally, speaking of economics, if you’re looking to help this site out, click this link to learn more!

Comments (37) -- Posted by: burbed @ 5:19 am

June 21, 2009

Palo Alto Online: Flood '98

Palo Alto Online: Flood ’98

Burbed reader steve posted this a while back. I just wanted to make sure everyone saw it.

Always be prepared.

Comments (5) -- Posted by: burbed @ 5:07 am

June 20, 2009

Real Estate Empire – the PC game!

Real Estate Empire for PC

* Work yourself up through the market by buying houses in the low end of the market, fixing them up and then selling them on. Shop for bargains, build a balanced portfolio or simply concentrate on a specific area of the market – its all up to you as you build your real estate empire.
* Five different professions to play as a Handyman, General Contractor, Realtor, MBA and Interior Decorator â” all of whom have different skill sets that will determine how the player has to approach the game.
* Realistic economic cycles will affect the value of property and the cost of materials and goods as will the time of the year.
* Players will have to balance the books or face losing their properties if they cant keep up the mortgage repayments. Being a bad debtor to suppliers will also have a negative effect upon the players credit rating.
* High scores can be posted online to see who is the worlds ultimate Real Estate King!

This is a slight change from from the usual Burbed Book club, but I thought it’d be fun to feature a game instead.

Hey this sounds like tons of fun. But… it doesn’t sound very realistic. Huh? You have to balance the books? Huh? You have to be one of those 5 professions? What about strawberry picker or NINJA debtor?

If you were to update this game for 2009, what changes would you make?

Finally, if you’re looking to help this site out, click this link to learn more!

Comments (9) -- Posted by: burbed @ 5:22 am

June 14, 2009

How much should I charge my kids for rent – reader question

This came in my inbox from Winston:

Hello,

How much should i charge my kids for rent?

I am not sure what criteria are important.Can you please guide me.Any info much appreciated.

Thankyou.yours truly,

Frank

Any good suggestions?

Comments (17) -- Posted by: burbed @ 6:37 am

Does the Real Bay Area have a new enemy?

‘Youth Magnet’ Cities Hit Midlife Crisis – WSJ.com
‘Youth Magnet’ Cities Hit Midlife Crisis
Few Jobs in Places Like Portland and Austin, but the Hipsters Just Keep on Coming

238023754-mind

The Wall Street Journal is part of the MSM, so it’s not surprising that they make mistakes from time to time.

But this is very surprising. I mean, is it really possible that fact checkers did not notice they forgot the Bay Area on this list?

And what’s up with the fact that Seattle is at #2 on this list. (Thank goodness doomed NY isn’t.)

Heck, according to this, King County has 68,390 millionaires whereas Santa Clara has 74,842 millionaires (though with San Mateo, San Francisco, and the North Bay it’s probably closer to 200,000 millionaires.)

You know what? I think there’s been a mistake. We’ve always been at war with Seattle.

Comments (21) -- Posted by: burbed @ 5:29 am

June 13, 2009

Emerging Real Estate Markets: How to Find and Profit from Up-and-Coming Areas

Emerging Real Estate Markets: How to Find and Profit from Up-and-Coming Areas

How a Dirt-Poor Landscaper Crackedthe Code to Emerging Market Real Estate Investing—and Built a Financial Empire

While many real estate markets have cooled off, there are major hot spots throughout the country that are booming due to population growth and urban expansion. These emerging markets are where the next wave of big-time real estate profits will be found. In Emerging Real Estate Markets, David Lindahl shows you how to find these markets, get started investing with little of your own cash, and maximize your profits.

The key lies in knowing how real estate markets cycle through ups and downs. If you know what to look for, you can tell when a market is about to heat up. Invest at the right time in the right place, and your profits will be dramatic. Does that sound too good to be true? It’s not. The tactics you’ll read here helped Lindahl, a landscaper when he started investing in real estate, to build a real estate empire!

Even if your market isn’t currently heating up, Lindahl will show you long-distance “hands-off” strategies for finding and investing in other markets that are. He also provides practical strategies for investing in markets in any stage of the cycle so you can invest no matter where you are or where your market is.

It’s Saturday and that means it’s time for Burbed’s book club (or, “Click this link and buy stuff from Amazon” Day).

Let’s face it, with the current credit crisis it may be hard for landscaper to invest in real estate in the emerging market known as the Bay Area.

That’s right… the Bay Area. Obviously, not the Real Bay Area – that’s emerged, and is very proud. But let’s look at the hidden gems like Gilroy, Morgan Hill, and East San Jose. I think there’s a lot of opportunities there and maybe you can use the techniques from this book to prove that they are.

Lindahl was a landscaper when he started. And now he’s awesome. You can be too!

Comments (11) -- Posted by: burbed @ 5:58 am

June 12, 2009

Glass house from Ferris Bueller's Day Off for sale

370 Beech Street, Highland Park, IL, 60035 – MLS ID#07218797 – Single Family Home real estate – REALTOR.com®

370 Beech Street  Highland Park, IL 60035
$2,300,000
$11,666 per month | Personalize this estimate | Check local mortgage rates
4 Bed, 4 Bath | 5,300 Sq Ft on 0.75 Acres (32,670 Sq Ft Lot) |
MLS ID #07218797

1965810970-370

THE BEN ROSE HOME-site of the famous movie “Ferris Bueller’s Day Off”, cantilevered over the ravine, these two steel and glass buildings, which can never be duplicated, have incredible vistas of the surrounding woods. This is a unique property designed by A. James Speyer and David Haid, both notable architects of the 20th Century. Estate Sale Sold -No disclosures! This is an amazing architectural treasure.

I know this is Bay Area, but I simply had to share this. Thanks to Burbed reader Brendan for this find.

Wow. It’s the Ferris Bueller Day Off house. How super cool! And yours for just $2.3 million! (You know that if it were in some place truly amazing like Sunnyvale, near Cupertino, this would be $4 million because of the more amazing views.)

Hey, have there been any movies shot in Real Bay Area homes? There’s gotta to be something. I mean, we have all these stunning examples of amazing architecture scattered about… there must be something!

Comments (17) -- Posted by: burbed @ 5:45 am