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How to Buy Prime Manhattan Real Estate for Less Than $100

Housing-Market / US Housing Sep 26, 2013 - 12:03 PM GMT

By: Money_Morning

Housing-Market

Robert Hsu writes: Unless you own a home in each of America's 20 biggest cities - or you're an economist - a 12.4% increase in the S&P/Case-Shiller Index doesn't mean much.

You can't make money from a nationwide statistic. Not in real estate...


Cleveland, for example, may have seen a 3.4% increase from July 2012 to July 2013. But that's nothing compared to Los Angeles, where prices jumped 20.8%. Or San Francisco, which posted a 24% year-over-year increase.

Las Vegas prices jumped even higher, up more than 27%.

And then there's New York, where you can make a killing on some prime Manhattan real estate right now...

There's a hassle-free way to do it, too. So you'll never have to worry about tenants, taxes, insurance, maintenance...

You won't need a million-dollar down payment, either.

Thanks to one savvy New York firm, you can start building your own Manhattan real estate empire with less than $100...

You Can Invest in These All-Cash Deals

The recent housing and real estate recovery is a double-edged sword. There are amazingly low rates, but it's much harder to get a loan, especially if you're an average borrower.

The real driver of higher prices, particularly in neighborhoods like Beverly Hills and Manhattan, is all-cash international and institutional buyers.

And Vornado Realty Trust (NYSE: VNO) is one of these big buyers.

The Manhattan-based real estate investment trust (REIT) owns more than 28 million square feet of high-end office, retail, and residential space in its home town. (You can tour its New York properties right here.)

It owns high-rent properties in San Francisco, too, and in Washington, D.C.

But this is not your average REIT...

The Dividend Is Just a Bonus

Most people buy REITs because they come with above-average dividends. And Vornado certainly pays a decent one, at 3.4%.

But this is more than an income play. Way more...

First, this REIT comes with billionaire investor Stephen Roth, Vornado's founder. Thanks to his expertise, Vornado has bested the returns on the S&P 500 by a factor of six to one... since 1990.

Second, in addition to its substantive commercial real estate holdings in prime locations throughout the country, Vornado has equity stakes and minority holdings in many well-known businesses. The company currently has a 6% ownership stake in retailer J.C. Penny (NYSE: JCP), a 33% stake in privately owned retailer Toys R Us, and ownership of the landmark Chicago Merchandise Mart.

And third, Vornado is an equity REIT. So, unlike risky mortgage REITS, it's largely immune to the negative pressures of a rising interest rate environment.

That's one of the reasons why Vornado is so well positioned right now. The firm actually invests directly in prime real estate properties. And the rents from these properties are what Vornado uses to generate its income.

And if you buy Vornado's shares today, it'll be your income, too...

Robert Hsu is one of the world's leading financial analysts. He made his mark on the financial world early, first as a quant analyst for a billion-dollar hedge fund, then as a portfolio manager for Wall Street powerhouse Goldman Sachs. He earned his first million at 29 and then retired at 31.

After five years in retirement, Robert founded the world-class money management firm Absolute Return Capital Advisors LLC to help private investors build their wealth. He currently serves as president and lends his special expertise in income investing to his clients and subscribers.

Robert is a published author and appears regularly on national financial TV and radio shows like Bloomberg and CNBC. He graduated from the University of California-Los Angeles with a degree in economics. Robert and his family divide their time between their homes in Beverly Hills and Taipei.

Source :http://moneymorning.com/2013/09/26/how-to-buy-prime-manhattan-real-estate-for-less-than-100/

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