Monthly Archives: September 2015

Real Estate performs “Crime” at Converse Rubber Tracks Austin


New York Post

Canadians can't get enough of NYC's real estate market
New York Post
Canadians love Big Apple real estate as much as ice hockey — scoring more New York City properties than any other nationality in the world. Over the past 10 years, $15.37 billion in Canuck cash has flowed into the city's commercial-property market ...
RE players pushing limits of capital gains tax rulesThe Real Deal Magazine (blog)
Canadian Real Estate Investment Trust Announces Date of Third Quarter Earnings ...MarketWatch
Investors Real Estate Trust (NYSE:IRET) Analyst Rating UpdateNews Watch International
Livemint
all 25 news articles »

seeing a lot of people frustrated with brokers and finding apartments. im an ex real estate broker who can explain the ins and outs of the real estate biz and can help you not get screwed by a broker or landlords/mgmt!

Fri, 21 Jun 2013 17:15:19 -0700

i first posted a big, long wordy post about how brokers often can screw you over when it comes to real estate in manhattan. however, i know many of you have questions and would like advice/are curious about finding apartments and how it works. (please note, i only worked in manhattan, so generally i can give advice, but mostly about manhattan and brooklyn, as i dont know as much about bronx, queens, and staten island.)

finding real estate is hard, especially in nyc and even moreso during summer. i used to be a successful real estate broker who quit because of pressure by my bosses to get more deals and placed money over customers. real estate is a big business - after all, EVERYONE needs a place to live. however, that also means that people will get screwed over, and you cant screw people over when it comes to the place where they will live and sign a lease locking them in to living at the same place, sometimes for up to two or even sometimes 3 years. seeing people get screwed over angers me a lot, so i want to help out and maybe shed some light about how things go down in the real estate world. (text post, so i dont get karma or whatever. i really dont care about that, i just want to help out.)

submitted by satreannausea to nyc
[link] [135 comments]

Investing in Real Estate with Home Equity? [#AskBP 007]


New York Post

Real Estate bigwigs honor recently retired REBNY president
New York Post
Despite a sparkling skyline as a backdrop, all eyes were a bit teary Monday night as the Real Estate Board of New York honored Steven Spinola, its recently retired president of 30 years, at an exclusive Rainbow Room event. Real estate industry titans, ...

and more »

Santa Barbara Real Estate

Information and news about real estate in Santa Barbara, California and the surrounding cities [link]

Real Estate Investing – Buy Tax Lien Property at Government Auctions


New York Post

Real Estate bigwigs honor recently retired REBNY president
New York Post
Despite a sparkling skyline as a backdrop, all eyes were a bit teary Monday night as the Real Estate Board of New York honored Steven Spinola, its recently retired president of 30 years, at an exclusive Rainbow Room event. Real estate industry titans, ...
Real estate pros turn out for Steven Spinola send-offThe Real Deal Magazine (blog)

all 2 news articles »

Santa Barbara Real Estate

Information and news about real estate in Santa Barbara, California and the surrounding cities [link]

1337 Locust Dr, Asbury Park, NJ 07712-New Jersey Real Estate


Charlotte Business Journal (blog)

CNL Commercial Real Estate spins out of CNL Financial
Charlotte Business Journal (blog)
CNL Commercial Real Estate, which has 50 local employees, has spun out of its parent company. Investment management firm CNL Financial Group has agreed to a management-led buyout of the business by the partners of CNL Commercial Real Estate ...
CNL Commercial Real Estate to spin off from parent companyOrlando Business Journal (blog)
CNL Financial sells its commercial real estate businessOrlando Sentinel

all 6 news articles »

Montecito Real Estate

Information and news about real estate in Montecito, California [link]

Probate Real Estate Investing by Wholesale real estate Investor Jimmy Reed – Part-2.AVI


OCRegister

OC real estate index on the upswing after rough 2014
OCRegister
People working in real estate and finance jobs averaged 163,650 in past year – the highest in seven years. That's up 1.41 percent vs. the previous three months and up 4.56 percent vs. a year earlier, according to the Employment Development Department.

A cautionary story on real estate investment and FI.

Sat, 19 Sep 2015 00:06:37 -0700

There’s a huge amount of enthusiasm for real estate investment in this subreddit, and for totally understandable reasons. For the most part we want FU money as quickly as possible, and, with current equity valuations and bond yields, the returns one could get on leveraged rental properties are incredibly attractive. I’m very guilty of spending a lot time reading about RE investing and running numbers. I live in a city in a growing metropolitan area with a very robust economy, with no evidence of a property bubble, and I’m now at a point where I could afford the down-payment on a sizable apartment building or complex.

So, as a sort of counterpoint to the story from the guy in Kentucky with a couple dozen rental apartments, I wanted to share a brief story that explains why I will never invest in real estate.

TLDR so you can skip a story with too many numbers - As we all know, undiversified assets have real risks.

When my Grandfather was born in Detroit in the 1910s, the population of Detroit was ~500,000, and the region ~750,000. The Great Depression when he was in his teens left him with an unfortunate weariness of stocks, but the growth of Detroit was pretty remarkable. By 1930 ~1.6 million people lived in Detroit, with 2,382,195 in the region (up 62% in just a decade). This growth continued through the 1930s, and was still in full force when he returned to Detroit after 6+ years in the army in 1946. He and my grandmother became real estate brokers, and they invested everything in Detroit real estate. For a while this looked like a great idea. By 1950 Detroit population was ~1.85 million, with 3,344,793 in the region. In the 1950s and 60s the population of the city proper declined slowly, but the region as a whole continued a healthy expansion with 4,736,008 in the region by 1970.

He retired in his late 60s in the 1970s, and figured that he was in pretty good shape. Of course things didn’t turn that well. The bottom really fell out on Detroit in the 70s (-20% population), and things managed to only get worse in subsequent decades. -15% population in the 80s, -10% in the 90s, then things have really accelerated downwards in the last 15 years, but well before then 100% of my grandparents’ investments in Detroit were worthless. They were entirely dependent on my Dad and his siblings for the last 15 years of their life. When he died in Detroit 5-6 years ago in his late 90s, the population there was about equal to what it was when he was born.

Now obviously this isn’t the entire story, for starters he had a massive MI in his 60s, and I doubt he was planning on living ~30 years in retirement (although we are…), but there are several points from this to consider above and beyond the risks of tying your fate to the fortune of one city or region.

  1. It’s very difficult to differentiate a cyclical decline from an absolute decline before it’s too late. This mainly applies to investor’s enthusiasm for “buying the dip” on failing companies, falling for value traps etc..., but consider that my gut reaction when telling this story is to think there’s no way that I would have held onto Detroit property through the 70s and 80s. In reality, I probably would have seen a local decline in values as a buying opportunity. After all, with 6 decades of experience with a dynamic, diverse and resilient city means more than a couple years of decline in manufacturing.

  2. The longer time scales make it harder to appreciate, but cities and regions, just like companies, have life cycles. I don’t really know how best to apply this idea. I’m not suggesting that London or Manhattan real estate might some day be worthless, but maybe Detroit could be a cautionary tale for the bulls in Silicon Valley?

  3. The retirements we’re hoping for will last a long time, a lot can change in that time, and any miscalculations on our part could have serious implications for children. My grandparents had a military pension as well as SS/Medicare, and the cost of 24 hour care for the last couple years for their life was huge. It didn’t bother my Dad, but I know for a fact that his older brother is still working as a lawyer today approaching the age of 70 because he hadn’t planned for those 15 years of growing extra costs.

As a final note, I’m really not trying to talk anyone out of real estate or suggesting that it’s not a perfectly valid path to retirement. There are dozens of arguments in favor of real estate that I ignored. I just want to stir the pot, start a discussion, and share a story.

submitted by AldolBorodin to financialindependence
[link] [167 comments]

Luxury Real Estate for Sale Brand New $1,499,000 New Jersey


RichmondBizSense

Real estate firm lands exclusive use of luxury brand
RichmondBizSense
One of Richmond's largest residential real estate brokerages can now claim a famous luxury brand as all its own. Long & Foster Real Estate is now the area's exclusive affiliate of Christie's International Real Estate, the luxury real estate arm of the ...

**Press Release** Philadelphia Real Estate company is the first in the World to accept Litecoins and Bitcoins for all properties!

Mon, 02 Dec 2013 18:01:49 -0800

Press Release Philadelphia Real Estate company is the first in the World to accept Bitcoins and Litecoins for all properties!

www.BitcoinProps.com

www.LitecoinProperties.com (Coming Soon)

We currently have 60+ for sale in Philadelphia, and every property is available for purchase by anyone in the world!!

Best part is, full or partial payments can be made in either Bitcoins or Litecoins.

We are working to allowing dynamic pricing and immediate purchase, but as of now, due to market volatility and the need for technological upgrades, please inquire about the current Bitcoin and Litecoin prices.

Please pass this on if you know people looking for things to buy with their newly found Bitcoin fortunes! Philadelphia is a great market for Real Estate investments!

www.BitcoinProps.com

www.LitecoinProperties.com (Forwards to BitcoinProps.com until I get my LTC prices oniline.)

submitted by GoodBetTrading to litecoin
[link] [42 comments]

FLIPPING HOUSTON! DOING WHAT I LOVE (REAL ESTATE INVESTING)!


Realty Today

Real Estate in Florida Registers Highest Market Rebound in the Country
Realty Today
CORAL GABLES, FL - APRIL 22: Denise Madan (L) , a Real Estate agent with Re/Max, shows prospective buyer Juan Carlos Correa a home that is listed as a short sale as he shops for a house on April 22, 2014 in Coral Gables, Florida. The Federal Housing ...

and more »

Santa Barbara Real Estate

Information and news about real estate in Santa Barbara, California and the surrounding cities [link]

1637-39 West Ave, Ocean City, New Jersey – Real Estate for Sale


Winona Daily News

Slow and steady: Winona seeing continued real-estate growth
Winona Daily News
The real estate market in the city and county of Winona is almost unanimous in one thing: Normalcy. After continuing to recover from falls starting in 2008, the prices and sales have achieved a more even keel. According to the Southeast Minnesota ...

Real Estate/Estate Agents, what are the questions buyers SHOULD be asking you, but aren't?

Fri, 22 Aug 2014 13:27:27 -0700

[edit]: These answers are awesome. Also, RIP my inbox =)

submitted by firerosearien to AskReddit
[link] [4883 comments]

Real Estate Investing for Women – Best Low Cost Business Startup


Aspen Times

An Indian Summer for September real estate sales in Pitkin County
Aspen Times
September is the only month since at least 2009 that has yielded $200 million-plus in property sales. And this September has seen six sales of at least eight figures. But, said Steven Shane of Shane Aspen Real Estate, the majority of the deals start ...

The necessity of real estate in plans for FI?

Wed, 28 Jan 2015 05:39:25 -0800

I'm currently reading the Automatic Millionaire Homeowner by David Bach. I think a lot of his statements are problematic, but I can't deny that the majority of people who've become FI seem to have a heavy involvement with real estate. Maybe it's just confirmation bias though. Therefore, I'm wondering if anyone has become FI (or is on the way to becoming FI) without significantly personally investing in real estate (I don't consider REITs, just people who own property and are landlords or use a property management company).

If real estate is necessary (or at least, makes the journey much shorter), how does someone with absolutely no knowledge go about getting started? Is it just a matter of having the discipline to save up a down payment and then hiring a property management company? Or should you learn how to do home repairs and buy fixer-uppers? If the latter, how do you learn those skills, assuming you don't have any friends or relatives to show you how -- do you just sign up for classes at the local community college?

Edit: I'm in Canada -- does that change your advice in any way? I live in one of the big cities with heated markets, and some people are predicting a cool off if oil prices stay low, which is why my interest has been piqued.

Edit #2: I've seen some interesting answers. Here's another discussion point: How long will it take (or did it take) for you to reach FI? For further clarification: a) did you use real estate? b) how big was your portfolio when you reached your goal? c) what's your current "passive" monthly income?

Feel free to answer some or none of those questions if they're too intrusive!

submitted by Criama to financialindependence
[link] [129 comments]

Real estate for sale in Alexandria Twp. New Jersey – MLS# 3220043


Port Huron Times Herald

Wallace: Buying real estate on land contract
Port Huron Times Herald
You have decided to buy or sell your home on land contract. But what is a land contract? How does it differ from a mortgage? Why should you use one? When you buy a house using a conventional mortgage, you typically have a down payment which can be ...

I think I sent a Real Estate Agent and Home Buyer to their death

Sun, 28 Jun 2015 15:02:39 -0700

Ok, so here's some back story before we get into the disturbing stuff. I work for a call center that handles real estate agents. I'm pretty much a glorified assistant to agents. But to about 300 different agents a day. I schedule appointments to show homes for them, and I call home owners, tenants, and listing agents to get approval to show their homes. It's a pretty monotanous job, but it pays well enough, and I get to sit down instead of be on my feet for 8 hours. Sometimes though, the monotony is broken by some pretty odd or interesting home owners. Old folks that have had their home forever and can't use a cell phone or computer. Or disgruntled people who are about to foreclose with the bank and just want to swear and have you identify with them. They're all usually pretty funny, at least in retrospect. What I'm about to tell you about now is not one of those instances.

My day started out fine enough. Aside from an intensely humid walk to work, I was feeling pretty good. As hot as it was, it looked bright and colorful everywhere, and I was in a pretty good mood. Sat down, stuffed a meal bar down my throat, and started making calls. About an hour into my work day, I came across an appoinment for a listing here in Texas. It was for a house on a farm road, and the price was pretty high for that market. It'd been withdrawn from the market for years and it had only just come back up for sale about two days ago. And like a lot of agents, one real estate agent saw the price and picture (both were very nice), and probably without even going out there, scheduled a showing for one his buyers.

This property had a listing agent with no contact info. That already struck me as odd. Sometimes, an agent sneaks in without contact info by setting up online, but it's pretty rare. It's extremely rare for an agent like that to list a home. It should actually be impossible due to our company policy, but it happens. Usually only on listings that have been in our system since the beginning, much like this one. It made me hesitate, but when you have to make about 400 calls a day, you don't hesitate for long on anything. I checked the contacts list and there was one choice. It didn't have a name. Just said "Home". This is not as rare. Whether it's bad work ethic on our behalf, or a home owner who wants to remain annonymous, a lot of tenants and sellers don't list their names. I didn't think too much of it, and went to make the call.

I phoned the "Home" number for the house and it rang and rang. After about ten rings, I was ready to hang up and mark it as a "Did not Answer", but then I got the machine. It was the generic automated voice that answered. I hate those more than nearly any annoying seller. They take forever and they're so loud and robotic. Just a pet peev I guess.

"Hello. No one is available right now to take your call. Please leave message for ...", the automated voice drolled out the long phone number, as I motioned my hand in a hurried manner. Like I could somehow speed it up through my impatience.

Once the beep sounded, I began my usual shpeel, "Hi, this is Wayne with (my company), I'm calling about your home on (the address). I have an agent named (showing agent) who would like to show your home to a buyer today at--".

I was cut off. The phone clicked and I could instantly hear what I can only describe as old-timey, 30's music echoing through the home. It was accompied by a low slapping or thumping sound. Like someone was dancing very slowly and loudly by themselves. The sounds were soon accompanied by a heavy and anxious breathing right up against the phone on the other end.

"Hello, is this the homeowner for (address)?", I asked, already getting the creeps.

There was a chuckle and snort through the heavy breathing, then just more music, slapping, and heaving. I could tell it was a man's voice. Sounded like a big man.

"Hello, sir?", I asked again.

"Yeah.", A raspy voice said. Then nothing else aside from that disgusting breath gurgling up and down.

"Yes sir, I have a (agent) that would like to show your home between 12 and 1 today, would that be possible?", I asked, running through the words.

"They got buyers with 'em?", the voice asked.

Well no shit, I thought, but didn't say. "Yes sir."

"How many?", he almost interrupted me.

"I'm not sure, sir. At least one.", I answered. It caught me a bit off guard, I'd never had a seller ask me that before.

He grumbled for a minute, and I could swear I heard someone scream bloody murder from somewhere in the apparently large house. I wanted to pretend it was part of the song, but there had been no vocals up to that point. And the scream wasn't exactly melodic. The slapping stopped and I started to suspect that it had never been slapping to begin with, but maybe chopping. I shuddered and then he spoke.

"Well, alright. Send 'em over. We'll entertain some new guests.", He laughed heartily and I could hear the phlegm in his throat. He hung up before I had a chance to say anything else.

I felt slimy, somehow. But, he gave me approval, and I was glad to be done with the call. I approved the appointment and went to the next call. A few calls went by and I had completely forgotten about the whole thing. I just absorbed myself in my mind numbing work, powering through my day.

It wasn't until about 3 hours later that I got a call from a home owner. They had been called earlier for a showing and the agent never showed up. I pulled up their information, and as soon as I saw the agent's name, I got a chill up my spine. It was the same agent that had shown the house with the music and the screaming. I pulled his profile up on my screen. I wasn't even paying attention to the complaints of the home owner on the line. I saw that this appointment was the next on his schedule, and it had been past the showing time for an hour. He never showed after going to that house on the farm road.

I rushed the angry home owner off the phone with whatever bullshit customer service response my brain manufactured. I don't even remember what I said. I tried calling the agent, but he didn't answer. It went straight to voicemail. With real estate agents, that's pretty common, but this time it was unnerving. I called his office, under the guise of getting approval for an open house on one of his listings. Usually a sure fire way to skip through the lies of "he's not in the office right now" or "he's currently with a client". But his assistant seemed sincere when she told me he hadn't returned to the office today, and that he wasn't currently answering his cell phone. She even seemed a little worried, as though this wasn't normal for him.

I tried to reassure myself that it was fine. It's quite regular for agents to just not answer their phones for days at a time. I pushed the weird and dark thoughts from my mind and went about my day. But like a fly that won't stop buzzing around your face, the thought just wouldn't leave my mind. The sound of the screaming, the odd old music, and the heaving, grunting man who seemed all too happy for visitors. What the hell did I send those people into?

Part 2

submitted by WayneTheDeuceman to nosleep
[link] [133 comments]