Category Archives: Investment Opportunities

Boston and the International Luxury Housing Market

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A new report on the international luxury real estate market, “The Global Property Handbook” has now been made available.

The report, generated by Wealth-X in collaboration with Warburg Realty and Barnes International Realty, reviews the real estate buying habits of the world’s wealthiest people. These so-called ultra-high net worth (UHNW) individuals are worth at least – or more than – $30 million and have largely come by their fortunes from their own brilliance and ingenuity. Their property choices are a reflection of practical and personal values, two qualities that make Boston an attractive destination.

According to the new Alpha Cities Index, which catalogues the most desirable cities in the world for UHNWIs to reside, Boston is placed amongst the top 15 world destinations, beating cities like Singapore, Moscow, and Rome for a chief global ranking. Boston is a strong city for practicality, emotional appeal (shopping, cultural richness) and finances (ease of doing business and high property value).

Boston comes third on a world scale for practical factors alone: strong education, air travel connectivity, environmental friendliness, and personal safety culminate our appeal. Boston beats out other US cities like New York, San Diego, and Chicago by “lead[ing] its national peers” in this assessment.

Boston is consistently ranked one of the best cities to live in for all types of individuals: there’s something for every runner, scientist, student, and entrepreneur, just to name a few of the lifestyles drawn to Beantown. With such a high quality of life for the average Bostonian comes even more value for UHNWIs.

Our school smarts are of particular interest. More than fifty higher education institutions in the greater Boston area make it a sought-after destination, as UHNWIs will buy homes close to their children “while they are being educated in schools or universities away from home, or which provide a base for their descendants to live in while pursuing their studies.”

One of the biggest draws to luxury real estate is its value retention even amidst political and economic insecurity. “Real estate assets provide multiple benefits for the wealthy investor … they both offer a hedge against inflation and portfolio diversification, while also affording today’s global citizens unique opportunities for travel and enjoyment.” In other words, a luxury property must be both practical and exciting for both domestic and foreign buyers – a point driven home as two of the three indicators in the Alpha City Index.

With the new luxury properties coming to market throughout downtown Boston, including those at the newly-built Millennium Tower, one would think that downtown areas are the primary aim for the multimillionaires of the world. Despite the gorgeous skyline and harbor views, however, many will actually look just outside of Boston for both privacy and a slower pace of life. With world-famous businessmen, celebrities, and leaders looking at Greater Boston for their new home, a community feel is one of the finest benefits to life beyond the busy epicenter.

Altogether, the next neighborhood the wealthiest will move to must have the following characteristics: proven value retention in the housing market, unbeatable quality of life, easy access to educational institutions, vibrant entertainment options, and a peaceful element to living. When price is no barrier to real estate options, UHNWIs can guarantee their desires will be met in their next home.


Three neighborhoods in particular best fit this description: Newton, Cambridge, and Brookline, all of which lie close to Boston’s amenities and venues. Besides their proximity to Beantown, each neighborhood has unique, enticing features that amplify their charm and appeal.

Newton’s single family homes are priced at over $1.2 million on average. Lasell and Mount Ida College both call Newton home, and its villages are within a ten-minute drive to Boston College and Brandeis University. Besides being ranked one of the best places to live in America, Newton has a lot to offer its residents that enjoy the outdoors, including many public playgrounds, parks, and the illustrious Crystal Lake.

Brookline homes continue to increase in value, with single family prices hovering just under one million dollars. It’s not only a stone’s throw from the universities in the Longwood Medical area (including Wheelock, Simmons, and Emmanuel colleges) but also houses parts of Boston College and Boston University. From popular villages with great restaurants and shopping to grand homes in the shadow of The Country Club, Brookline makes for a great place to live.

Cambridge is most distinguishable on a global scale for being the home of multiple top universities, including Harvard University and the Massachusetts Institute of Technology (MIT). The average price of a single family home is roughly $1.9 million, making it one of the most expensive markets in the Boston area. Steeped in colonial history, Cambridge is a hotbed of historical architecture with residences, churches, and other buildings that stretch back hundreds of years. Additionally, their breadth of museums provide rotating exhibits and content for all ages to enjoy.

Whether the world’s elite are looking to set down roots or secure a vacation retreat, Boston and its neighborhoods are sure to impress even the choosiest of home buyers.

Read the full Global Property Handbook report here.

See current luxury offerings in Greater Boston here.

Investment Opportunity: Side-by-Side Antique Townhouse Two-Family

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21-23 Greenview Avenue, Jamaica Plain

Offered at $679,000

This Jamaica Plain Centre side-by-side antique townhouse two-family awaits your polish and your additions to its long history. Our Seller was told it was once a stable to one of JP’s grand homes, and was moved to this location. Two duplex units, 2+BR, 1.5BA and a 1+BR, 2BA have exposed hand-hewn beams, updated kitchens and baths, and the charm of an antique home. In-unit laundry (both units), replacement windows, updated electric and newer plumbing. Set on a tiny cul-de-sac in a great JP Centre location, just seconds from Centre Street’s shops, restaurants and buses. Walk to Jamaica Pond, Arnold Arboretum, and the Green Street T.

Agent: Jay Balaban, 617.293.8932, jay.balaban@unlimitedsir.com
Team Member: Gioulianna Dimitri, 857.294.8267, gioulianna.dimitri@unlimitedsir.com

Introducing: Timeless Somerville Three Family Home

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10 Thurston Street, Somerville

Fantastic opportunity to buy and own a reasonably priced 3 family home in Somerville. This 3 unit building is perfect for: The Owner Occupant who wants to collect rent and live almost for free. The Investor who is looking to make a return on his investment that is much larger than just leaving cash in the bank or the Developer looking for a condo conversion in one of Greater Boston’s hottest up and coming suburbs. The VACANT first floor features a large 1 bedroom apartment while the RENTED second & third floor units are both nice sized 2 bedroom apartments. This building has many possibilities and is just waiting for the right individual with vision and a little TLC. All showings begin at the first open house on Sunday, 11/09/14 from 11:30-1:30. It really is a must see! MLS # 71765483

Learn more, contact Agent Scott Goldsmith:
617.529.2434, scott.goldsmith@unlimitedsir.com

Featured Listing: Stunning New Construction in JP!

73-75 Wachusett Street, Jamaica Plain

Three new construction townhomes available in Jamaica Plain, close to public transportation, shops, parks and the Arnold Arboretum. Units feature luxurious finishes including, hardwood floors, gourmet kitchen, high ceilings, integrated sound systems and more! Private off-street parking included.

Units 73A and 73B
Listed at $549,900
2 bedroom, 2 bathroom
Amazing roof deck with panoramic views
MLS # 71693850 & 71693852

Unit 75 #1
Listed at $649,900
3 bedroom, 2 bathroom
Large open floor plan
MLS # 71693853

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Open Houses: Saturday, June14th 2-4pm & Sunday, June 15th 2-4pm

www.townhomesatwachusett.com

Investor Opportunity: Three Family Home in Jamaica Plain

34 Egleston Street – Jamaica Plain

Listed at $849,000

Unique & profitable opportunity to own 3 quality lead compliant residential units + a small detached commercial space only 2.5 blocks to the highly sought after Stony Brook Station! MLS # 71691718

Learn more, contact Josh Brett:
617.543.4185, jbrett@prudentialunlimited.com

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Thinking about buying a multi-family home for an investment?

Buying a Multi-Family Home

One of the benefits of buying a multi-family home is the ability to use the rent payments to help pay your mortgage. This lets you have a lower housing expense and build more real estate equity. A two- or three-family home can be a great investment, but it’s not for everyone. Use these questions to help you decide if buying a multi-family might work for you.

How comfortable are you with home maintenance?

You might have the tools and not mind doing small jobs, or you might know somebody reliable who is handy. But remember, there will be two or three kitchens, two or three baths, painting, plumbing, electrical, and yard work.

How are your boundaries?

Your tenants will be your neighbors, maybe even your friends or family. These can be really rich relationships, but having tenants can also be complicated and contain possibilities of miscommunication, differing expectations, even court action.

Do you have a cash cushion?

That mortgage payment is due every month – whether your apartment(s) are rented or not.

If you are still excited, then a multi-family with its mix of home and business may be right for you. We have a lot of experience and excel at working with first time multi-family buyers. Call or email us and let’s go look at some houses!

Flexibility

Some two-family homes have a modest “rental” unit and a larger “owner” unit. You can live economically in the smaller unit until you need the larger space. The higher rent you can get from the larger unit will pay a larger part of your mortgage payment. Or you can live in the larger unit, yet still have part of your mortgage paid by the rent. Click here for our Multi-Family Financial Worksheet.

Next Step

When you’re ready to move to your next home, you have the option of keeping the multi-family as a rental property for extra monthly income, for future college tuition, or to help finance an early retirement.

If selling is the right strategy, you could sell it as a multi-family. You could also sell each apartment separately by converting to condominiums.

Join Boston Real Estate Investment Club’s next meeting Feb. 27th

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Join the Club February 27th!

The Boston Real Estate Investment Club has announced another meeting on Wednesday, February 27th at Osaka Japanese Sushi & Steak House.

About the Club

The Boston Real Estate Investment Club is open to real estate investors of all experience levels who want to meet and continuously learn from other investors and real estate professionals. Each meeting features knowledgeable speakers to guide members through new and relevant topics relating to the many aspects of Real Estate Investment. Past events have covered Why invest in Real Estate?, Foreclosures, Self-directed IRA’s, 1031 Exchanges, and Creative Tax Strategies.

It’s an opportunity to network with others who share similar goals & needs, to learn about unique & hot properties, to find ways of obtaining & utilizing different sources of capital, and so much more! 

February’s meeting will feature:

Matt Newman :: Investor

“In the mid 1990s, Matthew started a real estate company that today has two offices: one in Brookline, and one in Jamaica Plain, Prudential Unlimited Real Estate. He is a silent partner but participates in corporate development and consultation. Matthew began buying, managing and developing real estate in the early to mid 1990s. At first he bought condominiums, three family houses and small projects. Now over 20 years later, he owns over 200 residential units, has completed dozens of condominium conversions, acquisition-renovation-management situations, and renovated and sold numerous assets and properties, has developed dozens of projects and has bought and sold over 50 million dollars worth of property in the area. Matthew is still involved with the two Prudential offices. Currently, he oversees the management of the Newman Properties portfolio and is seeking new acquisitions. “

Eric Erickson :: Investor / Mortgage Specialist

“In 1992 I began my career in the mortgage industry. By the mid 1990’s I became known as the “Go-To Guy” and the “He can get it done guy” for the FHA 203K loan. I founded my own mortgage company in 1996 just a few short years before the economy took a large downturn and eventually the FHA 203K loan became obsolete. Now in 2012 the program is needed again and I am back to provide these loans to properties in need of improvement. I have the opportunity to bring my skills to borrowers that need to navigate the current lending environment. Wells Fargo Home Mortgage has given me the ability to provide both the FHA renovation loan as well as Conventional loan programs for home buyers and investors.”

Topics

•    2013 Investment Planning     •
•     Short Sale Update     •
•     Hot Properties     •
•     and more!    •

Agenda


February 27th, 2012

6:00PM :: Registration / Networking / Food / Drink

6:45PM :: Lighting Round with Guest Speakers & Prudential Unlimited Staff

7:00PM :: Meeting

 

 Location / Amenities / Registration

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Osaka Japanese Restaurant

14 Green St, Brookline, MA 02446

$10 with pre-registration (www.BREIC.com)
OR $15 at the door (Includes Sushi)

Cash Bar Available

 

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