BiggerPockets.com had a great article about real estate investment clubs too.
Please read. Yes, I know, the appetizers are tempting at these meetings...
Wednesday, August 22, 2007
I Love East Valley San Jose Real Estate
Zone 4 for you in the industry in Santa Clara County - or East Valley - but more specifically the are between Evergreen to the South and North Valley to the ________. If there has ever been a more obvious real estate play in recent history, this is it. Evergreen was nothing but green hills 20 years ago - now it is Silver Creek Valley Country Club and a slew of $1,000,000+ homes. North Valley & Milpitas was built out with track homes and yet, it was not THE place to be by any means. Now look at North Valley and especially Milpitas - prices have soared and demand is high. What area is in between and will get squeezed price-wise? Yes, I highly suggest buying in East Valley - the area will definitely regentrify over the next decade. Homes will get more expensive and retail will come back bigger and better. My strategy, buy single family homes and rent them out. Rents will rise too. This boring investment method make people rich - just ask all my clients who did this in the 70s and 80s.
Real Estate Investment Clubs
It was in front of my face and I didn't see it. Pat Kitano of Transparent Real Estate made it all so clear to me in his article about a certain real estate investment club. Please read and be enlightened - or at least be a bit more cautious.
Whew!!! Bank of America bails out Countrywide's possible bankruptcy
In a late move today, Bank of America invested over $2 billion into flailing Countrywide Mortgage. Countrywide has notes on 1 out of every 7 households in the US! They are definitely in rough waters with all the foreclosures. I am sure BofA felt that saving this sinking ship is good for the whole mortgage industry and good for BofA. It also got a sweet deal from Countrywide which had few sources left for a bailout. Stock is trading after hours at $25 - BofA now has rights to buy the stock at $18! More details from MarketWatch.
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