Hamptons sets new record for real estate
A residential estate in the Hamptons - the Long Island summer retreat of New York's rich and famous - has sold for a record $90m (£50m).
The 40-acre estate is surprisingly modest, boasting a three-bedroom farmhouse and converted barn. There are two guest houses, a two-bedroom caretaker's house, a fully stocked pond and a 75-foot pool.
If you have never bought the Oakland County Foreclosure list in Michigan then you are missing out some really eye opening numbers. Most new real estate investors think that the only foreclosures with profits are to be found in Detroit - they are so off the mark that it is funny. The high end foreclosure market in Michigan is alive and well - just drive to 1200 N.Telegraph in Pontiac, Michigan and buy the list - it is only $5, comes out every Friday at around 3:30pm and if you pay some weeks in advance they will even email you in an Excel format that you can sort and sift. Every month mansions ranging from $800,000 to $2,000,000 going, going and gone.
Just the other day, one of my lead sources was telling my about his 22,000 Square feet hosue in Oakland County - you can buy it for $6,000,000 - no repairs needed - it is a mansion - appraisal for $12,000,000.
For those of you shaking their head in disbelief - chew on this - the owner of the house is being "exported" out of US for charges that are unsavoury at best. : - )
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Comments
Mark, I first want to thank you, Nora, Derrick, and also theresa for the excellent presentation that was given this past saturday at the southfield marriott hotel. I had told another investor that if I receive just one nugget of information, it would fine with me but I received a bag of gold :) HELLLLLLLLLLLLLLLLLLLP :) I was talking to an investor that I was bird dogging for about a block of houses that was mentioned through fidelity asset management company, he knows an investor that has 2mill here from california looking for houses. I also mentioned that they needed proof of funds, tax returns and the works. They just called back at 10:00 pm tonight to say that whatever we needed they had what should I or we do or say after this. I will not be home until 3:30pm every evening this week. yvette k. simmons LETS MAKE SOME MONEY :)
Posted by: yvette k. simmons | June 27, 2005 10:44 PM