June 2009

There are 3 blog entries for June 2009.

South Boston 3 FamilyI just listed this 3 family that actually has 4 units. If you are in the market for a small investment property, this is a good building. The monthly rental income is $4,300. Because it's an investment property, banks will require you put down 20% or $97,000 for your mortgage. The monthly expenses including taxes, insurance, common utilities, water & sewer, vacancy loss, and your mortgage will come to about $3,500.

For those of you who can do math, that's $4,300 (income) minus $3,500(expenses) which equals $800/month in positive cash flow, or $9,600/year. That's almost a 10% return on your initial $97,000 investment!

If you're a wanna be real estate mogul, this may be a good opportunity to jump in the game. Call or email me with questions or to set

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Apple sells 1 million 3G S iPhonesYou may ask, how does this relate to real estate? Well, it really doesn't, but I found it interesting seeing that "A", I drive a car, and "B", I stopped into the Apple store twice this weekend and am considering a switch to the iPhone. Apple came out and said they sold over 1 million new 3G S iPhones that began selling on Friday. The highest Wall Street estimates had them selling 750,000, so once again, Apple far exceeded expectations.

As many of you have probably noticed at the pump, gas prices have been on tear the past couple months, as oil rose to over $72/barrel. Fortunately prices pulled back today and oil is trading around $67/barrel. The price of a gallon of gas was on a 54 day rally that finally ended.  I've added a poll to the blog to see

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Back Bay Parking SpaceA new record was set yesterday when a buyer purchased a parking space located behind 48 Commonwealth Ave for $300,000. Yes, that's with 5 zeros! This topped the previous record set in 2006 when a parking space sold for $250,000 behind 31-33 Commonwealth Ave. To put this into perspective, if the buyer financed the purchase at current rates and put 20% down, the monthly mortgage payment would be $1,362.69! I'm pretty sure they paid cash, but it's still seems crazy. I guess $20 for valet parking isn't such a bad deal.

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