April 30, 2010

Excellent Investment Opportunity: Corner Lot Residence in Palo Alto’s Best Neighborhood!

Thanks to Burbed reader Gallileo for this find!

Excellent Investment Opportunity: Corner Lot Residence in Palo Alto’s Best Neighborhood!
Location: Old Palo Alto 8249611_max
This 3br/1.5ba single-family residence is an owner-occupied, ranch style one-level home (1328 sq. ft.) with a two-car attached garage. The house was built in 1950 and is on a corner lot (5625 sq. ft., Zoned R1) surrounded by multi-million dollar estates in the most prestigious neighborhood of Old Palo Alto located just ten minutes walking distance to University Ave. in downtown Palo Alto.
The owners have lived on the property since 1977 and prefer to continue residing in the home for the next ten years as opposed to accepting a traditional outright sale. Based on a 2007 appraisal, the property was valued at $1.2m. The property’s current fair market value now is estimated to be at least $1.0 million. *According to the City of Palo Alto Development Center, a new house may be constructed up to 2,438 sq. ft. (not including basement area which may also be built up to the same square footage area as the main level.)
The owners are open to all serious offers. However – as a reference point, they have considered the summarized scenarios below which will enable them to continue living in the property.
SCENARIO A
The owner-occupant will accept a $600,000 loan secured by a new first deed of trust at 6% compounded monthly. The owner will continue to live on the property with no loan payments and move out in 10 years with an end payoff to the lender of $1,091k in ten years. An alternative option is the owner would agree to pay a lender 60% of the purchase price in 10 years – allowing the buyer to be paid whichever payoff is higher depending on how inflation affects the property’s value at the end of ten years. *An investor in this scenario would need to consider their imputed interest because an investor making a loan with no payments (such as buying a zero-coupon bond) may still need to pay tax each year on the interest that accrues during the year. In this instance, a retirement account or non-profit entity may be a suitable investor.
SCENARIO B
The owner will accept $900,000 for the property as-is, through an outright sale now. The seller will continue to live in the property for the next ten years. Rather than paying rent to the new buyer (on which, an investor would be required to pay income tax), the seller will instead continue to pay 100% of the ongoing costs of property owner­ship such as insurance, property taxes, and maintenance during the ten years at which time, the buyer can take possession and/or sell.
SCENARIO C
Buyer to purchase a 67% undivided interest in the property for $600,000 cash. At the end of ten years, the current owner will sell their remaining 33% with a first right of refusal to the buyer for its fair market value.
*Buyers are required to consult with their own attorney and tax consultant, and are urged to conduct their own due diligence with the City of Palo Alto Planning Department regarding usage, building restrictions, and zoning laws. Any contracts and/or deed of trust will be recorded with both buyer/seller parties providing their own attorney representation and contract review at their own expense.

Property Location
740 Addison Ave.
Palo Alto, CA 94301
View Map
Features
Bedrooms: 3     Bathrooms: 1.5
Parking Spaces: 2       Year Built: 1950
Lot Size: 5625  Garage Size: 2
School District: Palo Alto      Square Footage: 1328

Here is another one for you. My guess is that someone has had a little too many cash-out refi’s and is looking for a way to stay in their home, but it’s really the bank’s at this point. Just look at the artistic color–easter egg blue is all the rage these days. Plus it is located on the corner of Fulton Street, which is Palo Alto’s “Christmas Tree Lane”–just on the part of it that isn’t part of the show. You get the Fulton street connection with none of the pesky tourists!

And such a realistic price–Just mention the 2007 price and you know you get 200K of instant equity just out of the gate. Now there is an investment worth pursuing.

Comments (116) -- Posted by: burbed @ 5:13 am






December 19, 2009

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 funds

Discover 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!

Comments (26) -- Posted by: burbed @ 5:36 am

October 17, 2009

A Million Bucks by 30: How to Overcome a Crap Job, Stingy Parents, and a Useless Degree to Become a Millionaire Before (or After) Turning Thirty (9780345499721): Alan Corey: Books

It’s Saturday! That means it’s time for the book of the week! This week:

Amazon.com: A Million Bucks by 30: How to Overcome a Crap Job, Stingy Parents, and a Useless Degree to Become a Millionaire Before (or After) Turning Thirty (9780345499721): Alan Corey: Books
A Million Bucks by 30: How to Overcome a Crap Job, Stingy Parents, and a Useless Degree to Become a Millionaire Before (or After) Turning Thirty (Paperback)

From Publishers Weekly
Entertaining and informative, this book by first time author (and reality TV semi-regular) Corey sheds light on the plans and processes that led him to achieve his goal of amassing a million dollars by his third decade. In a winning narrative, Corey leads readers through his post-collegiate career as the cheapest of cheapskates, starting each chapter with a cute but revealing paragraph letting readers know all that he had yet to grasp in pursuit of money-making and -saving strategies. Though very few readers will be able to follow Corey’s same path to riches (he doesn’t expect them to), bulleted tips and sidebars (“Extreme Cheapskate Strategy: Buy one pair of multipurpose shoes a year. Don’t buy any others”) give readers solid advice as well as an appreciation for Corey’s discipline. Throughout, the tone is conversational, humorous and occasionally glib; the under-30 crowd (for whom the current American economy can be especially unkind) will find Corey’s advice welcome and his story encouraging.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

Review
“What a steal…For any entrepreneur the advice in these pages is worth more than a million bucks.”–Barbara Corcoran, founder, The Corcoran Group

Wow! Becoming a millionaire by 30! Wow!

But that’s strange… why is there a review from a Corcoran, a major real estate firm in NY?

Uh oh… let’s look at this review:

I was with the author until about $100,000 or so then he started to get lucky. I really do believe investing in real estate is great way to go but the fact his New York property doubled value in two years is not going to happen for everyone. However, if you don’t buy any property ever you will never make any profit, so the take away here is to get into the game.

Oh. Crap. Sorry. I really shouldn’t have recommended this book. Burbed would never condone investing in New York real estate – don’t help the enemy.

But still, his lessons could apply here. Just invest in some real estate, and boom you’ll be rich. Like this other review:

I enjoyed the book. I went a similar path in the 1990’s when I moved to San Francisco after college, landed three job offers on arrival in customer service, took two of them, worked my tail off and bought a condo in the pre-trendy SoMa District at only $130,000. 2 years later, sold my condo in a week’s time and profited big from an unforgettable bidding war. Took my profit to buy/flip/sell a home in Oregon, profited there too. Stayed in retail, stayed single, no dating, kept in touch with stockbroker and CPA. I reached over $600,000 net worth by age 30. The key was that I learned San Francisco and Portland, Ore would grow like crazy after religiously reading business news and talking to random people on lunch breaks.

Now that guy should right a book.

So to summarize: buy real estate, watch it soar, profit. BOOM. It’s just that simple. Aren’t you glad Burbed exists?

When you become a millionaire at any age, you can help this site out ! Click this link to learn more!

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

October 3, 2009

2 Years to a Million in Real Estate (9780071471879): Matthew Martinez

It’s Saturday – that means it’s time for Burbed’s book of the week!

Amazon.com: 2 Years to a Million in Real Estate (9780071471879): Matthew Martinez: Books

A few years ago, Matthew Martinez was a lot like you – he worked hard to make as big a salary as he could. But it wasn’t enough. He worked by the clock, and yearned to be his own boss. With a small amount of savings, he acquired his first rental property. Two years later, he was making more from his rentals than he was working 9 to 5, so he quit his day job to oversee his real estate investments. Today, he enjoys a multi-million-dollar collection of income-producing properties–and he’s ready to share his money-making strategies so you can begin your own journey to career and financial independence.

Two Years to a Million in Real Estateshows you everything you need to know, including how to

* Invest small amounts early-on while working a full-time job
* Avoid real estate “bubble” risks
* Get others to pay your mortgage for you
* Pick a hot property (and spot others that will become hot)
* Simplify the ins-and-outs of financing
* Negotiate like a pro
* Screen for reliable tenants
* Understand how local tenant laws work
* Hire good people to manage your properties
* Know when to sell

Wow. Just think, if you started reading this book today, you could have a million in Real Estate in just 2 short years. Now, granted, this could be a million debt, but debt=wealth if you do it right. And to do it right, you need this book.

What’s important is that you have the right attitude, full of confidence, and not be a doubter, a hater, like this guy:

But is it credible?, November 2, 2007
By     JJ – See all my reviews
The book follows the author on his path to success through real estate management/investment. When I reached the point in the book where the author made his first real estate investment purchase in the summer of 2002 I paused to consider the housing market he succeeded in. With a copyright of 2006, the author must have generated the bulk of his successes between 2002 and late 2005/early 2006 – heady times for the real estate market. His claim that the book will “… teach you how to duplicate my achievements…” is questionable given the present housing market. If he were starting out today would he have achieved so much so fast?

People like that are going to go nowhere in life. On the other hand, you, with this book, will simply soar!

On October 3, 2011, I expect you to be able to please help this site out, click this link to learn more!

Comments (33) -- Posted by: burbed @ 5:39 am

September 26, 2009

Buy Even Lower: The Regular People’s Guide to Real Estate Riches (Regular Riches) (9781419535741): Scott Frank, Andy Heller

It’s Saturday. That means it is time for Burbed’s book of the week!

Amazon.com: Buy Even Lower: The Regular People’s Guide to Real Estate Riches (Regular Riches) (9781419535741): Scott Frank, Andy Heller: Books


Review
“A book every real estate investor will love.” — – Ilyce R. Glink, nationally syndicated investor columnist

“On my scale of one to 10, this outstanding book rates a solid 10.” — – Robert J. Bruss, nationally syndicated real estate columnist

Product Description
Scott Frank and Andy Heller have been buying investment real estate for a combined 40 years. In Buy Even Lower, learn how they consistently buy these properties for the “right investor price.” Additionally, they show you that “buying even lower” is about more than simply saving money. It is also about saving time and energy, so you have more of it for your friends, family, and other interests and so you are positioned to live a full and wonderful life—what Scott and Andy refer to as Regular Riches®.

Let’s face it, there are investment opportunities all abound, especially in not so great cities. The problem is, often those people aren’t as smart as the ones in the Bay Area – they’re more emotionally driven, with no business sense.

I’m talking about New York. With you heaps of equity stashed away in your money bin, now is the time to unleash some of it, and scoop up some of those investment opportunities in NY. With this book, you can figure out how to buy those properties up cheaply, so that when Bay Area pioneers start treking out easy to spread the good news about greentech, you’ll be there to watch Manhattan transform from a rust belt city, to a greenbelt city. And watch as your property soars.

So go ahead, buy this book. Learn to buy even lower.

And when you become rich from your newfound negotiation skills, please help this site out, click this link to learn more!

Comments (11) -- Posted by: burbed @ 5:26 am

September 25, 2009

House with $5,525 potential gross income

1793 Geneva Ave, San Francisco, CA 94134 | MLS# 359554
1793 Geneva Ave San Francisco, CA 94134
Price: $625,000

1793
Beds: 3
Baths: 1
Sq. Ft.: 1,304
$/Sq. Ft.: $479
Lot Size: –
Property Type: Single-Family Home
Year Built: 1946
Community: Visitacion Valley
County: San Francisco
MLS#: 359554
Source: San Francisco MLS
Status: Active
On Redfin: 40 days
Single Family Home used as investment property with gross potential income of $5,525. Contact Agent for more info.

Hey hey hey entrepreneurs! Check out what I’ve found for you!

With easy access to power lines, and protected from tsunamis by a mountain behind it, this house offers $5,525 of gross potential income.

That’s right! $5,525! Did you notice that the unit of time isn’t specified? That’s because it’s per day!

Yep. $5,525 per day. This house can be for all sorts of lucrative purposes – your imagination is the limit. Personally, I think you can rent it out for ultimate parties for celebs like Lohan, or sports figures like Vick. Or… you can have corporate off-sites for Amgen, Genentech, and other firms.

Look… it’s happening already! There’s a BMW parked outside. Ooooh! Ahhhhh!

Buy this house and start profiting today!

Comments (108) -- Posted by: burbed @ 5:20 am

September 12, 2009

Equity Happens: Building Lifelong Wealth with Real Estate

It’s Saturday, and therefore it’s time for Burbed’s book of the week!

Amazon.com: Equity Happens: Building Lifelong Wealth with Real Estate (9780977488704): Robert Helms, Russell Gray: Books
Equity Happens: Building Lifelong Wealth with Real Estate (Paperback)
by Robert Helms (Author), Russell Gray (Author)

Life happens. Stuff happens. Equity happens.

Like all other things in life, you have to be ready for whatever comes your way.

For example, what will you do if you if suddenly got $250k in instant equity because the school you live next to, with its annoying, tax sucking children, is torn down to build a convenient mini mall with elite cupcakes, frozen yogurt, and sushi stores?

Or… what will you do if you suddenly got $1 million in equity over the long term from living in house for 40 years, retired, paying $1000 a year in property tax while your new annoying working neighbors who clutter up the streets with traffic pay a measly $10,000 in property tax?

All of these are possible in the Bay Area. You must be prepared.

You know important this is? It’s so important that this book is temporarily out of stock! So you’d better put in your order today!

And equity does happen to you, please help this site out, click this link to learn more!

Comments (4) -- Posted by: burbed @ 5:22 am

August 29, 2009

Maverick Real Estate Financing: The Art of Raising Capital and Owning Properties Like Ross, Sanders and Carey

It’s Saturday! Time for Burbed’s book of the week!

Maverick Real Estate Financing: The Art of Raising Capital and Owning Properties Like Ross, Sanders and Carey

Product Description
Praise for MAVERICK REAL ESTATE FINANCING

“Once you start reading, you won’t be able to put the book down. You will feel you are part of the deals that industry leaders have put together. This is a real book about real people and how they address risk and reward.”
–Bruce S. Schonbraun, Managing Partner The Schonbraun McCann Group LLP

“Bergsman applies a journalist’s logic to the complex world of commercial real estate, making it easier for outsiders to understand. He writes with the authority of a true insider.”
–Brannon Boswell, Managing Editor Shopping Centers Today

“Congratulations. Finally, someone has written a book that reflects real estate finance in the twenty-first century. With the growing proliferation of real estate education in university business schools today, this book should be required reading!”
–James D. Kuhn, President Newmark Knight Frank

In Maverick Real Estate Financing, Steve Bergsman–author of the widely acclaimed Maverick Real Estate Investing–describes the various financing methods you can use to achieve real estate investment success. Maverick Real Estate Financing also introduces you to an innovative group of real estate professionals who have used these methods to build substantial fortunes.

By listening to some of the world’s most successful real estate Mavericks–includingWilliam Sanders, W. P. Carey, and Stephen Ross–you’ll discover what sets them apart from the rest of the pack and learn how to apply their proven principles to your own real estate deals.

Ever since the 2008 elections, maverick has been a critical word in our lexicon. Popularized by former Vice Presidential Candidate and former Governor of Alaska Sarah Palin, it’s the phrase that everyone wants to label themselves. Maverick this, maverick that.

Well, now’s the time to learn how to apply it to real estate financing. This book will help you be a total maverick, a one of a kind thinker, a lone wolf – just like Ross, Sanders, and Carey and all the other people who read this book.

Frankly I hope there are contributions from Sarah Palin – now she knows how to be a maverick! Maverick!

And when you’re not too busy being a maverick, please help this site out, click this link to learn more!

Comments (27) -- Posted by: burbed @ 5:57 am

August 15, 2009

Beyond the Bubble: How to Keep the Real Estate Market in Perspective — and Profit No Matter What Happens

It’s Saturday. That means it’s time for another Burbed book recommendation!

Beyond the Bubble: How to Keep the Real Estate Market in Perspective — and Profit No Matter What Happens

Review

Great review of BEYOND THE BUBBLE from Robert Bruss:

“This is a thinking-person’s book explaining local ‘real estate bubble’ and how individuals can profit from them…Whether you are just getting started in real estate or you are an old pro, Thomsett and Kahr have written this book for you. On my scale of one to 10, this well-researched, outstanding book rates a solid 10.”

Review

“On my scale of one to 10, this well-research, outstanding book rates a solid 10.”
-Robert Bruss, nationally syndicated real estate columnist

Although the Bay Area has never been in a significant bubble in the WSJ, this book is good reading for all so that can learn how to invest in real estate in the rest of the nation.

Let’s face it, the bottom has been reached – we’re now officially beyond the bubble. Please use exploit this opportunity to become wealthy. Sure you might not be able to afford spec properties in Palo Alto, or even East Palo Alto, but that doesn’t mean you can’t start in Phoenix or Miami!

Get on the escalator today!

And when you do become from keeping real estate in perspective, please help this site out, click this link to learn more!

Comments (44) -- Posted by: burbed @ 5:03 am

August 1, 2009

The Part-Time Real Estate Investor: How to Generate Huge Profits While Keeping Your Day Job

It’s Saturday. Time for Burbed’s book of the week!

The Part-Time Real Estate Investor: How to Generate Huge Profits While Keeping Your Day Job

Fortune Magazine states, 97 out of 100 self-made millionaires made their fortunes through Real Estate Investing, and the next 10 years will be a Golden Era for the informed Real Estate Investor. If you are saying to yourself That sounds great but I can t quit my job and begin investing full time. I ve got bills, kids in school, car payments, and a mortgage to support, you re in luck. This new book is for you! You will learn how to become a skilled professional Real Estate Investor who can generate thousands, and yes, even millions of dollars, in your spare time. Unlike starting a retail business where you need to be there every day, you can work a full-time job and invest in real estate on the side, and reap huge profits. The key is time. The real estate investing business is a perfect part-time business because real estate is a business where the assets appreciate and cash flow is generated even when you are absent. This new book will give you the information and advice necessary to buy, finance, and successfully manage a small number of positive cash flow producing properties in your spare time. Investing in real estate is one of the safest and smartest investments you can make. Real estate appreciates at a rate far greater than the rate of inflation, builds equity, provides a steady return on investment, provides cash flow, and can offer substantial tax benefits. With the sound guidance in this book you will be able to retire comfortably and EARLY! A sampling of what s covered in this encyclopedic book includes: how to find below-market deals, investing with little or no down payment, seller financing, foreclosures and REOs, investment property, negotiating, purchase offers, managing rental property, flipping, auctions, tax sales, financing, mortgage terms, agents, cash flow, inspections, contracts, tenants, lease agreements, insurance, taxes and accounting, escrow, essential mathematical calculations, sample forms, development, taxation, exchange rules

Let’s face it, most average tech employees have tons of free time. You get to work at 10, you leave at 5, and you play tons of foosball in between. (What? You don’t?)

Why not use that time to become rich? In your spare time, you can be dealin’ and wheelin’. Just like how you were day trading back in 1998! Nothing could possibly go wrong!

What’s notable is that all the reviews are positive. So… that definitely means this is a good buy.

And when you do become wealthy from this part time endeavor, please help this site out, click this link to learn more!

Comments (23) -- Posted by: burbed @ 5:24 am