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Beverly Hillbillies house asking $350 million

By curious2 following x   2017 Aug 8, 8:35pm 475 views   1 comments   watch   quote     share  


"The home of late Univision chairman Jerrold Perenchio has hit the market for $350 million.

The Sumner Spaulding-designed estate, which is known as "Chartwell," comprises more than 10 acres in Bel Air and dates back to 1933.
***
The home was featured as Jed and Granny Clampett's house on "The Beverly Hillbillies" and Ronald and Nancy Reagan used to live next door.
"

Plan for PatNet joint venture:
1) buy house with 3% down at full asking provided seller pays all closing costs;
2) refinance with a 125% second mortgage;
3) buy $87 million homestead in Florida, which protects homestead in bankruptcy regardless of value;
4) file BK.
Sadly though, the asking price is probably only a teaser to generate a bidding war.

#Housing #Investing

1 Strategist   ignore (1)   2017 Aug 8, 8:49pm   ↑ like (1)   ↓ dislike (0)     quote        

curious2 says

Plan for PatNet joint venture:

1) buy house with 3% down at full asking provided seller pays all closing costs;

2) refinance with a 125% second mortgage;

3) buy $87 million homestead in Florida, which protects homestead in bankruptcy regardless of value;

4) file BK.

Sadly though, the asking price is probably only a teaser to generate a bidding war.

That's OK. A higher price will get me even a higher 125% second.
I just need a teaser rate of 1% with zero down.


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