South Florida billionaire and former U.S. Senate candidate Jeff Greene told Fox Business that people will someday look back on 2011 as “the golden day” for real estate investing, and those who didn’t get in will be kicking themselves for missing out while inventory is high and interest rates are “lower than they’ve ever been.” Greene, who is worth an estimated $1.8 billion, said that in the past year he’s finally begun to get back into the real estate game after seven years of sitting on the sidelines and will “absolutely” be buying more property over the next few months. Among his recent investments: a distressed condominium conversion site at 62 Wooster Street in Soho, which he bought for $26.27 million in April, and 260 units in a fractured Florida condo where he says he’s currently getting a 9 percent return on his investment now that he’s renting them out.
Jeff Greene: this is “the golden day” for real estate investing
June 09, 2011 02:52PM
June 09, 2011 at 7:12 pm, Anonymous said:
#4 to 6, agree with you
June 09, 2011 at 7:13 pm, network7 said:
Time will tell but when you can nearly new Florida housing at half replacement cost you have a winner even if market slips more.
June 10, 2011 at 7:12 pm, Anonymous said:
The article doesn’t mention that Greene just picked up one of the most significant Hamptons waterfront properties ever at a very good price. He purchased Tyndal Point on 55 acres of waterfront in Sag Harbor for $36M. And although that is the highest price ever paid for a property north of the highway in the Hamptons it is quite a bit off the original ask of $80M. Good real estate investing is not limited to one area apparently for the very savvy Greene.
June 09, 2011 at 8:24 pm, Anonymous said:
#’s 3,4,5,6,7…how many $ billions are you worth? I think I’ll go with advice from Mr. Greene – the billionaire. He hasn’t done too badly so far.
June 09, 2011 at 8:44 pm, Anonymous said:
.,,,,,,not in real estate…..he didnt
June 30, 2011 at 8:04 pm, Manuelre said:
Hello. Interesting site you have.
July 07, 2011 at 10:45 pm, Etty said:
To think, I was confused a muitne ago.
July 06, 2011 at 4:12 am, Essy said:
Kudos to you! I hadn’t thugoht of that!
June 10, 2011 at 10:24 am, Anonymous said:
#4 & #5 are right. can you say bubble?? does anyone care that no one has a job anymore? who is going to payto fill all those empty cubicles in the commercial spaces?
June 10, 2011 at 10:38 am, Anonymous said:
Sounds like he is a salesman. Let the Chinese bring their billions from China and property prices will double. Without fresh equity and hiring paying jobs, real estate stays in the toilet.
June 10, 2011 at 11:17 am, Anonymous said:
this time period reminds me of 2008 right before bear and lehman.
always “real estate proffessionals” crowing that prices will continue to increase -”buy now or be priced out forever”. Now we have alot of people nervous that they missed out on the bottom ,especially in Manhattan, so we have a run up.. But is a false messiah.
The market is headed for a fall.
for history, go back and read some of “expert opinions” of 2007 -08
June 10, 2011 at 1:52 pm, Anonymous said:
im getting my florida real estate license. i can see the writing on the wall. market will hit bottom 2013. in mho.
July 21, 2011 at 6:58 pm, Anonymous said:
June 12, 2011 at 3:58 pm, A.Rogatz said:
All do not have the funds that Greene has.
Real Estate always comes back, sometimes longer than expected though. Tough one this time, with the Banks and all.
June 09, 2011 at 3:31 pm, Anonymous said:
There absolutely will be many who will be kicking themselves. They just can’t make a move and live in fear. The Manhattan market is screaming “buy and double your equity in 5 years!” yet these people hear nothing.
June 09, 2011 at 3:40 pm, Anonymous said:
Florida is a gold mine right now Palm beach county rental market is strong and is awash with foreclosures, getting a 9% return is possible for anyone who has cash
June 09, 2011 at 4:14 pm, Anonymous said:
1 is an idiot.
2 only a little bit less so
June 09, 2011 at 4:16 pm, Anonymous said:
once interest rates start to rise, today’s ‘great low prices’ won’t seem so great. Hold your cash, wait 2 years, then buy everything in sight.
June 09, 2011 at 4:29 pm, Anonymous said:
agree with 4. We never had enough a true correction – especially in New York. what we have now is a second bubble.
the economy is not really improving and all the commercial notes are coming due.
just you wait and see.
June 09, 2011 at 4:33 pm, Anonymous said:
if it wasn’t for foreign investors buying up Manhattan with newly found wealth due to the constant decreasing value of the dollar, Manhattan would already be in the toilet.
June 13, 2011 at 9:31 am, Anonymous said:
Yes the smart ones have begun buying back into the Hamptons now as well. There was a recent time That just over $3,000,000 could get you a decent house on an acre in Bridge South. Now its over $4mm. Soon it will be over $5 as the $4mm are viewed as land value. The stage is et for the next wave of people to mak ethere millions in hamptons rela estate. A long term investment
June 13, 2011 at 10:28 am, Anonymous said:
17 you sound like an idiot broker.
the hamptons are like south florida. prices go down too