Can You Buy a Home With Bitcoin?

The answer is, yes. But there’s more to it than that. There are a variety of ways you can do this, and it extends beyond just Bitcoin to other cryptocurrencies as well, like on the Ethereum network. For this post, I’m going to stick to Bitcoin. These methods will be very similar for a variety of cryptocurrencies.

Bitcoin-Bitcoin

There are three main ways that you can use your Bitcoin to buy a home. The first and most obvious is, to just pay with Bitcoin. You get a new home, the seller gets Bitcoin. It’s pretty straightforward. (For the sake of this post, I’m assuming if you’re paying in Bitcoin, there is no mortgage contingency.) The tough part here, is finding someone willing to accept Bitcoin as payment. I’ll go into why a seller or buyer might want to trade in crypto in a future post. This is the most different in terms of how the transaction is carried out.

So you’ve got your coins, you found a home you want and the seller will take Bitcoin. Great. Now what? All the standard documents and contracts of a home sale are still required. The only thing that changes is payment. As a buyer, you can use a Bitcoin escrow service. However, this is still a very new industry and I think that there can be uncertainty sending large sums of Bitcoin to relatively new and unknown companies. That doesn’t mean there aren’t any trustworthy services, but at the end of the day you’re still sending your coins to a stranger. Just a note, although an important one: Bitcoin transactions are irreversible. Once they’re on the blockchain, the deal is done. You don’t want to just send the Bitcoin to the seller.

The other option, is to forget escrow. This is where things get interesting. You can use a service like Bitraded to handle the flow of money. What they do, is process payment using multi-signature smart contracts. I’m not going to go into detail, but a smart contract is just “if, then” code. It’s kind of a misnomer because it’s not “smart” and it’s not really a contract. But I do see smart contracts playing a big role in real estate transactions in the near future.

Anyway, the way it works is like this. A buyer and seller find a third person to be an arbitrator or “trust agent.” Terms are agreed upon and a wallet is set up. This wallet is a 2 of 3 signature address. Money can be sent to the address, but 2 of the 3 signatories need to agree to release funds for payment. The buyer is requested to make the payment. The seller can confirm when the payment is made and can turnover the home. The funds are still locked until two of the three agents agree to release it. If the buyer and seller agree, then everything goes smoothly and there’s no need for the arbitrator. If they disagree, then the arbitrator steps in to determine if funds should be released to the seller or refunded to the buyer.

A few things to consider. Using Bitraded will be cheaper, as you’re not paying for an escrow service. The only fee would be whatever the arbitrator charges. The arbitrator does not have access to the funds, and can only decide to release or refund the payment. So that’s one way that paying with Bitcoin could actually save you money. Also, price is almost always determined in fiat currency. Until the closing, the risk is on the buyer. After closing, the risk is on the seller.

Bitcoin-USD

Here’s situation number two. You found a home. You want to pay in Bitcoin. The seller does not want Bitcoin. Well this is actually pretty easy. In this case, the price will be determined in fiat and it’s the buyers responsibility to stick to the agreed price, regardless of the volatility of the cryptocurrency market. All of the standard contracts and agreements are still in place. For this, you’ll use a service like BitPay. Once all the terms have been agreed to, BitPay send the buyer an invoice. The buyer pays the dollar amount in Bitcoin. BitPay accepts the Bitcoin and turns around and sells it for fiat. The seller is then wired the money. There are transaction fees for this, and it can get expensive for high value transactions

In this case, it’s easier to get traditional financing. You’ll just need be able to meet credit and income requirements. Keep in mind it might be tough to get a good rate from a traditional lender if you’re using your Bitcoin as proof of income.

Cash

Which leads me to your third option for using your Bitcoin to buy a home. Just use cash, duh. Especially right now, there are plenty of people HODLing. They don’t want to sell. But that doesn’t mean you can’t buy a house using your Bitcoin. Let me explain. There are several companies out there that will lend you money, holding your bitcoin as collateral. BlockFi is probably the largest. Some offer up to multiple millions of dollars in credit. These are going to cost a little more than a traditional mortgage, but the process is way less invasive. You send them coins, they send you money. You pay back the money. There’s no credit check, or proof of income. You either have the coins, or you don’t. From there, it’s a standard transaction. Right now, I think this is probably the best way to do it. You get to keep your coins (theoretically) and you also get a home. You can do this for just the downpayment and also take out a mortgage, or just finance the whole house from Bitcoin.

That’s it! That’s the post!

Stay tuned for “Why would you want to buy your next home in Bitcoin?”

Please feel free to reach out with any questions about this article or crypto and real estate in general. I love to talk about it! 617 528 8461 or willy.charleton@nemoves.com

How to Prepare for Your First Home Purchase

1. Save

2. Pay off debt

3. Know your credit score

4. Determine what you can afford

5. Talk to a Realtor

6. Get pre-approved

Those who fail to prepare, prepare to fail.  And nobody likes failure.  So let me help you prepare for buying your first home.  Buying a house is a big investment, but it doesn’t have to be stress inducing.  In fact, the better prepared you are, the smoother the process will be.  In this post, I outline what you can start doing now to help you buy your first home, even if it’s years away from now.

1. Save

You’ll need cold hard cash for a down payment.  There’s no way around it.  Set up a separate fund for a down payment.  If you can, set up direct deposits immediately when you get paid so you don’t even see the money.  Don’t use your emergency fund for a down payment.  You might need it later.  A house isn’t an emergency.  Also, the more you put down, the less money borrowed, and the less you’re paying in interest.  

Houses are expensive, so it might take some time to save up 20% of the home price.  Keep the money in a high yield savings account, CDs, or something like Treasury Bills.  This money isn’t for betting on stocks.  You want it to be secure, and relatively liquid.  If you know it’s going to be several years before you’re ready, it’s not going to hurt to do a CD ladder, or something like that.

2.  Pay off Debt

Debt is expensive.  If you owe any money, work to pay it back as soon as you can.  I’m talking about bad debt.  Like credit card debt.  I’m not saying walk down to the bank and pay off your entire car loan at 1.6%.  Lenders are going to look at your debt to income ratio, and from there determine the risk involved.  In a similar sentiment, pay your bills on time.

3.  Know your credit score

The better your credit score, the better the terms of the loan.  If you have bad credit, or just think it could be better, take time and work on it.  It can save you thousands in the long run.  Aside from the savings, it’s a good thing to monitor in case anyone takes out loans in your name and doesn’t pay them back.

4.  Talk to a Realtor

It doesn’t cost anything to talk to a Realtor.  As a first time homebuyer, you’ll be happy to know that the seller pays the commission.  In my experience, Realtors love talking about real estate.  Even if you’re just starting to think about thinking about buying a house, ask your friends if they know any Realtors (I’m right here!).  Local Realtors can assist you in identifying what you’re really looking for, as well as help with state and local assistance programs.

5.  Determine how much house you can afford

There’s a lot of confusion around this, and it’s going to depend on individual circumstances.  You’ll need to have a grasp of your finances in general.  Know what your earn, what you spend and what you save.  Knowing your credit score will help you estimate your interest rate, which could play a big role in your monthly payment.

If you’re in good financial standing, with minimal to no debt, you can get a rough estimate by multiplying your income by three.  If you have a more complicated financial situation, you’ll need to know some details.  There’s also something called the 28/36 rule.  Essentialy, your mortgage payment should not exceed 28% of your income, and total combined debt payments should not exceed 36% of your income. Ask your Realtor to recommend a CPA or mortgage broker to help you more accurately determine what you can afford.

6.  Get Pre-Approved

Once you’ve done everything previously listed, it’s time to get pre-approved for a mortgage.  There’s no reason not to have a pre-approval letter, unless you’re paying cash.  It lets sellers know that you’re serious, and that you can afford to make the offer.  It makes for a more seamless transaction and a faster closing.  

If you’re looking to buy your first home, or are just thinking about looking to buy your first home, give me a call! I’d love to chat and would be happy to answer any questions. My cellphone is 617 528 8461 and my email address is willy.charleton@nemoves.com

Boston's Back Bay Market Update

If you’re familiar with Boston, you know that Back Bay is the place to be.  I’ve been here for 11 years and I love living here.  I moved away once, but moved back.  If you’re planning to move to or within the Back Bay, there are some things about the market you should know.

First, it had the highest dollar volume of any Boston neighborhood last year.  The combined total of sales was over $658,000,000.  The second highest was the South End, Boston’s largest neighborhood, with about $628,000,000.

Second, spring is when the market’s the hottest, with the majority of closings taking place in August.  The average listing is on the market for 48 days.  That’s a little bit longer than some other neighborhoods in Boston, but it’s also important to realize the average sale price in the Back Bay is $1,900,000.00.  

Finally, it’s important to consider the sale price versus the listing price.  While they’re related, they’re not the same thing.  Sometimes agents will recommend listing the property at a price lower than what the owner is willing to sell. Agents do this to get lots of people excited about the property and to start a bidding war that could drive up the price.  

In some markets agents will recommend listing lower… however this isn’t always applicable in Back Bay; the market is hot.  Sellers don’t need to entice demand with a low asking price to spark a bidding war.  Desire and demand are present.  Over the last year, the average listing price was $1,259/sq ft with the average sale price at $1244/sq fit.  So that’s just a $15/sq ft difference.  (That’s about a 1%)  That can probably be chalked up to individual unit differences instead of market trends.

Spring is here, which means temperatures are getting hotter and so is the real estate market.  If you’re planning to buy or sell, now is the time!  If you have any questions about Back Bay real estate or about the market in general, please ask me!  My cellphone number is 617 528 8461 and my email address is willy.charleton@nemoves.com.  I’d love to hear from you.

How to Find the Perfect Real Estate Agent

These are what I consider the five most important things to look for when selecting a real estate agent.

1. Look for a Realtor®.

Being a real estate agent and being a Realtor® aren’t the same thing.  An agent who is a Realtor® is a member of the National Association of Realtors®,  the trade association for brokers and agents.  Realtors® are bound by a Code of Ethics, and hold themselves to a high standard.  Agents join the National Association, not just for the internal benefits such as training and accreditation, but also because it shows clients that they are committed to providing the best service. 

2.  Look for someone who lives in and knows the area.

Using an agent who lives in the area where you’re planning to move can be tremendously helpful.  He or she can give you tips and resources from the experience of living in the area.  

I’ve lived in the Back Bay for 11 years. I am confident that I can answer almost any questions you might have about moving to the area.  Looking for the closest post office?  Where to find the best coffee?  Where to get the best salad?  I’ve got you covered.

3. Read reviews.

This business is almost entirely reputation- based.  Real estate agents aren’t paid a salary. Our income is solely commission-based.  Reviews from past clients and customers are very important.  They help the agent understand what the client liked and didn’t like, and also give future clients a glimpse of how the agent works and what to expect.  

4.  Choose someone who understands you and your needs. 

By choosing an agent who understands you and what you are seeking, you will save a lot of time.  There will be properties that meet some of your criteria but aren’t really what you want.  An agent who knows exactly what you’re looking for isn’t going to waste your time showing you places that will not work for you.

5.  Choose someone who will put your needs first.

Choose an agent who answers your phone calls.  If he doesn’t answer yours, he probably does not answer potential buyers’ calls either.  Make sure you select an agent who is willing to work with your schedule.  And pick an agent who will communicate with you the best way for you—whether it’s by phone, text, dm or email.  

If you have any questions about Back Bay real estate or about the market in general, please ask me!  My cellphone number is 617 528 8461 and my email address is willy.charleton@nemoves.com.  I’d love to hear from you!

Open Houses 9/30/2018: 16 Pinckney and 34 Commonwealth

Now that September 1st has passed, I can relax a little. I’ve got more time these days and have been getting back in the habit of attending open houses. I also want to get back into blogging. So here goes both. I’ve decided to do a little write up, along with photos and commentary. Let me know what you think!

Today, September 30, 2019 I tried to attend as many open houses in the neighborhood as I could. I usually just scope out places in close proximity to my own condominium.

The first one I tried to attend was at 36 Pinckney St. in Beacon Hill. It’s a single family home for $3.59M. The open house was listed on MLS as 11:30-12:30. I got there just before 12, and the agent turned me away.

16 Pinckney St. Boston, MA 021…

Next up was another single family right up the hill at 16 Pinckney. Michael Harper (http://www.michaelharper.com) has this place listed at $4.25M. It’s brand new. 4 beds, 4.5 bathrooms. It had great light and quiet views. High up on Pinckney, so there’s only really residential traffic, for foot and car. No parking, but what can you expect in Beacon Hill. Maybe put your name down at Brimmer St. I’d take this single family on the hill. It feels like it’s not in a city. I’m imagining the taxes are outrageous though. I wonder if single family home-owners in this area use property managers.

The master bedroom is street-side and includes a walkthrough closet to the bathroom. Not the one pictured below.

My only complaint about this house is in this bathroom. What’s the deal with that shower? I’d re-do that and add a door. It would be so annoying getting out of the shower to a wet floor every day. (Edit: There is a shower door, it hasn’t been installed yet.)

Now this is cool. The master-shower closes, but there’s a vent!

Ok, 2 complaints. Anyone that puts white marble for the entirety of kitchen surfaces, doesn’t use a kitchen. I can’t imagine this homeowner tempering out 14 gallons of chocolate. You can’t cut on it, you can’t spill on it, and it requires regular maintenance. Not worth it in my opinion.

Obsessed with outdoor space though. There’s another patio off the dining room on the ground floor.

End of 16 Pinckney.

34 Commonwealth Ave Apt 2 Boston, MA 02116

I then headed home to Back Bay to check out a condominium at 34 Commonwealth Ave listed by Davant Scarborough (http://www.davantrealty.com). 3 bed, 2.5 bathrooms, $3.25M. Four units total in the building. This place does include a parking space. This is the best location in Back Bay; the first block of Comm Ave. The living room and master bedroom overlook the Comm Ave Mall, and you’re just half a block from the Public Garden. The backside has more of a family room and kitchen. The upstairs was a little strange, but not atypical for this area. The non master bedrooms were narrow, with high ceilings which made it look more dramatic. If this were my place, it would be a one bedroom. Taxes are a whopping $26,000 a year. The condo fee isn’t bad at $840.30.

I’m a fan of the openness.

That open door leads out to small patio.

I spy an electric baseboard.

To the untrained eye, it might seem odd that for $500,000 more you could get a brand new single family. This Comm Ave unit is commanding so much because of the location and the parking space.

2 Minutes Will Save You Thousands on Your Wardrobe

Today, I’m sharing with you something that I just heard about from youtuber Drew Scott.  That’s a link to his video, from where I heard about this.  And it could potentially save you thousands of dollars.  It’s called, Shoptagr.  It’s a free service that notifies you when items you’ve tagged, go on sale.  I think it also notifies you when items come back in stock, or low stock.  But I haven’t gotten that far yet.  It only works with specific stores, but don’t worry it is a pretty extensive list.  The only ones that I noticed were missing were Mr. Porter and Neiman Marcus/Bergdorf Goodman.  But it works on Barneys, Saint Laurent, Shopbop et al.

It's the one in the middle.

The way it works is, you create an account.  You’ll be given a link to download the app for safari or whatever you’re using.  It’s just a plug in that shows up on the toolbar.  Now that you’ve got the plug in, you want to know where you can use it.  Look through Shoptagr’s list of cooperative vendors, and pick your favorites.  When you’ve found something you’re interested in, but not at full price, click the button on the toolbar.  Do this when you're on the page of the item you want.  You select the color, if there are any variations, the size, and what you want to be notified for.  You can also create lists.  I did, but I don’t think it’s required.

In his video, Drew mentioned the online store Ssense.  I’d never heard of it, but it seems pretty cool.  And according to him, they have good sales.  Says he got a pair of Saint Laurent Chelsea boots for 60% off!

Here are some things that I’ve saved!

An Argument for a Plane

In case you didn’t know, I want my own plane.  It’s one way we can buy time, which is priceless.  The general consensus is, it makes sense to own if you spend over 300 hours a year in flight.  And if I’m going to get a plane, the first thing to do is pick one out.  I think I’ve decided on and Bombardier Global 6000.  It’s the most recent variant of the Global Express.  As far as private planes go, this one is a classic.  The only thing it's missing is a washer and dryer.  It’s NetJet’s flagship aircraft.  It took its first flight in 1996.  Although, the version known as the Global 6000 wasn’t announced until 2003.  Now let me break it down to you why I’ve gone with this option:

If it's mine, I don't see why I couldn't fill the tanks with Pristine Hydro water.

1. It holds 13 passengers. That’s quite a few. I don’t think of myself as traveling with more than 9 or so people. I’d put the vacant seats up for sale. I mean it’s big, but it’s not too big. Understated.

2. The cabin has 6’2” of clearance, which is pretty good for a small plane. I don’t know about the 6000, but I know the 7000, which is coming out next year, can have a full size stand up shower.

3. It’s got 2 Rolls Royce turbofans, which is very cool. Jet engines are neat. Those engines bring it to cruising speed over 3/4 the speed of sound.

4. And it can travel 7000 miles on a tank of gas. That’s amazing! I’m lucky if I break 200 miles on 1 tank in my Defender. This is a major selling point for me. Non stop BOS-LAX and back. That's like 14 hours non stop. You never know when you’re going to need to get away. Being in the air could be a good hiding place.

5. At $45,000,000 new, it’s a good value. You’d be insane to buy a new one anyway! This one for $28,500,000 is gorgeous. Plus, planes depreciate in value pretty quickly. IE you can claim it as a loss. "Fuck, my plane dropped $600,000 last year, it's a loss!" Maybe to the IRS, not to me! Keep in mind, the people that write the tax code fly on private planes. How many people are going to know about "accelerated depreciation?" I don't think anyone that has a plane would complain. If you're smart, you can get in you're own aircraft for $10,000/mo. So I'm told.

Plastic water bottle. Can you believe that?

Now here’s why I want a plane, and I’m assuming the same reasons everyone wants a plane.  And I know, it doesn't make sense for everyone to have their own.  There’s a reason NetJets and JetSmarter and things like that are taking off.  Pun INTENDED.  We’re not like the Jetson’s yet where the cars fly.

I hope it's a low VOC interior.

1. You are on your own schedule. You fly when you want to fly, and if you’re running 15 minutes late, it’s no big deal. And there are no delays, no missed connections.

2. You can always fly at night. Flying at night is much better for your body. Don’t you feel strung out when you fly? I do. And I blame solar radiation. That, and not being grounded in general.

3. You can bring whatever snacks and drinks you want.

4. If you lose a bag, it can only be your fault.

5. The seats are bigger. And there’s probably a divan.

6. None of that TSA psyop bullshit.

7. Parking is free. Just leave your car where the plane was.

Oh the smörgåsbord I'd have.

Very Restoration Hardware-esqu

After writing this, I think NetJets or JetSmarter should sponsor me.  Send me your bids here.  Or maybe I should get my pilot’s license.  Or both!  Environmentalists please comment below.

Here is pretty much a documentary on how to choose your plane, and make it more affordable. 

Heritage on the Garden

One of my favorite buildings in the neighborhood is Heritage on the Garden.  It’s so prominent, and classic looking.  I’m always changing my mind about what I want in my next home.  Should I scoop something bigger up in the Back Bay?  Buy a house in Cambridge?  Keep my apartment (it’s actually a condo but I hate the word condo) and buy a house in New Hampshire?  All of the above?  Although, I know I wouldn't mind moving into this place at all.  It’s off the market.  I don’t even think it was on the market for a week!  It was listed for $1,250,000 by Tracy Campion.  It’s a two-story one bed, one and a half bath with outdoor space on both levels.  Enough of my words, here it is!

You walk into a little hallway with the staircase and a hidden half bath that leads to the living room.  See outdoor space?  Kitchen to the right.

It's not great, but it's nice enough.  Dishwasher is a huge plus.

I'd ditch the mural.

Nice big staircase for a Back Bay 1 bed.

In-unit laundry.

Did someone say built-ins?

More storage AND outdoor space off the bedroom.

Master bathroom isn't bad. 

So you see why I like this place so much?

Other People's Thoughts on Money

“Money and success don’t change people; they merely amplify what is already there.”

— Will Smith

“Money is not the most important thing in the world. Love is. Fortunately, I love money.”

— Jackie Mason

“While money can’t buy happiness, it certainly lets you choose your own form of misery.”

— Groucho Marx

“It’s a kind of spiritual snobbery that makes people think they can be happy without money.”

— Albert Camus

“Money is neither my god nor my devil. It is a form of energy that tends to make us more of who we already are, whether it’s greedy or loving.”

— Dan Millman

“Money is better than poverty, if only for financial reasons.”

— Woody Allen

“I am opposed to millionaires, but it would be dangerous to offer me the position.”

— Mark Twain

A First Time Homebuyer's Dream

Volnay Capital is a property development and soon to be property manager based in Boston.  I met with Ricky, the owner and founder, at their 349 Meridian St property.  There are three 3-bedroom units, but only the penthouse is still available.  It's just over 1300 square feet and has its own private roof deck.  Volnay Capital also has a few developments projected to come in the market this spring.  The finishings and attention to detail will be of the same caliber.  These aren't your typical developments.  These are solid condos built by experienced craftsman.  If you buy before the condo is finished, they’ll even build to suit your needs, within reason.  On top of that, Eastie is a great neighborhood, both to live and invest in.  It's growing at an unprecedented rate.  For my friend Jesse's take on the hood, check this out.  Here are some photos from 349 Meridian!

Millennium Tower Photos

Here's my photo album of Millennium Tower.  Let me know what you think!

Success by Osmosis

So I’m in Montana visiting my friend Frannie at the Yellowstone Club.  If you’re not familiar with it, it’s a private residential community in Big Sky.  It has an interesting history, but from what I can tell is the premier private community for those with higher standards.  And it’s not cheap.  Which means that the membership is left to a small, very successful few.  Members include Eric Schmidt, Tom Brady and Peter Berg.  And what better way to learn how to be successful than putting yourself around successful people!  You’re the average of the 5 people you spend the most time with, so choose wisely.

Yesterday we went to a mentor panel.  Five successful businessmen and businesswomen were asked to share a little bit about what they thought got them where they were.  Here, I’d like to share with you my takeaway.

First up was my friend Neale Attenborough!  A fellow east-coaster.  Neale is an operating executive at Golden Gate Capital, and has a history of selling “lady’s dresses” as he puts it.  Neale’s main point was that every connection matters.  He says that something along the lines of 85% of jobs are found through networking.  And you never know what a person you meet today will be doing a year from now.  And when networking, Neale stresses the importance of listening and asking questions.  If you really engage and try to learn about the person you’re connecting with, you’re going to walk away with more than you left.  Then there’s the part I didn’t like hearing so much.  “There’s no substitute for hard work.”  Shit.  But then I realized, if you’re doing what you love, it’s not really work.  Like writing this.  It could be seen as work, but I’m enjoying organizing and sharing my notes!  Neale went on to say that effort and hard work will always be noticed.  Neale ended with something that I thought was really important.  Especially because successful people often get a bad wrap as being sharks, or cut throat and only out for themselves (Recent Relevant Article).  He stressed that it’s important to always be kind, and that the majority of the business leaders he’s met with, were also some of the kindest people he’s met.

Next up was Nancy Domaille.  She and her husband founded a precision engineering and manufacturing company, Domaille Engineering.  She began working at IBM after college, working on AS400.  Her husband had a thing for fiber optics.  So when they began to feel stagnant in their jobs, they took out a loan to start their own business.  The most important takeaway from her, was that it should be your goal to make your clients successful.  A successful business has to constantly focus on how they can develop a better product and service.  I think a lot of people forget that.  Without clients, there is no business.  I think this ties into something else she talked about, getting satisfaction out of your work.  Her take is that as long as you’re doing something meaningful, that satisfaction has to come.  I got the impression that she implied satisfaction “will come,” meaning that at first you have to do something meaningful without getting any satisfaction.  She and her husband have an interesting story, in that they sold their company, turned around a few years later and bought it back.  And then sold it again!  “We sold our business twice, and I highly recommend it.”

The third speaker is President and CEO of Arctic Cat, Chris Metz.  He took a more personal approach to success.  For your business to be successful, you need to be successful.  A business is an extension of the owner/operator.  And any person’s foundation is their integrity and character, according to Chris.  It’s much more important to be respected than liked.  I don’t think he means that you should be an asshole and have people respect you out of fear.  I think he means it’s more important to make the right decision than to cave to the wants of others.  One of his big pieces of advice was to stay humble.  It’s far better to let others recognize your strengths on their own.  I think that has to do with being respectable.  Respectable people don’t go around boasting about how good they are at what they do.  Chris also pointed out that you can’t go anywhere without taking risks.  He said “take risks early and often.”  He finished with a recommendation to find 1-2 good mentors, and eventually a good partner.

The next guy was Gary Rochelle.  I’m not sure how to spell his name, but he gave some great advice.  His number one piece of advice was learn how to respect, manage and work with people.  And an integral part of that is being comfortable with yourself.  Gary says that you need to know what you’re willing to risk, and what you’re not before you set out on any endeavor.  Another key point of his was “you’re not that special.”  I think what he meant, is that anyone can be successful.  It’s about finding and using your strengths efficiently.  Just because you’re not that special doesn’t mean you aren’t unique.  Part of separating yourself to stand out is highlighting your uniqueness.  Gary also brought up hard work.  He said you can have a good life by working hard, but to have a great life you have to work hard, but also recognize and seize opportunities as they present themselves.  

The last woman that spoke didn’t introduce herself, so I don’t know her name.  But she works in both the semiconductor and fashion industries.  She also touted the importance of making connections, but also “serendipity.”  She relayed a story where she was supposed to have dinner with friends in France, but they stood her up.  She ended up meeting a french businessman, who ended up becoming her business partner.  Aside from networking, she drilled in the significance of taking risks.  She says that risk taking is a lifestyle and one that should be adopted sooner rather than later.  “If you don’t take risks in your 20s, you’re not going to take risks in your 30s.”

TL;DR:

Be nice, be personable, listen, take risks, learn from others who are doing what you want.

I hope you found this as interesting and helpful as I found the panel!

Boston's Hidden Gem: Eastie

Jesse Greenstein

If East Boston was good enough for the Kennedy’s back in the 1900s, then it is definitely good enough for you and me! 

I live in a neighborhood that does not get a lot of attention from the average Bostonian, and for that I am grateful. Traffic is minimal, real estate is affordable, goods and services are less expensive, and the people are hardworking and humble.  If you’re from Boston and have only been to East Boston to utilize the airport, then come back and let me be your guide, and let me show you around. To most people who live in the greater Boston area, East Boston is just where the airport is, or where Santarpio’s is…. If you feel that way, then you are in for a pleasant surprise! 

 There is a hell of a lot more than just an airport out here…

 We have libraries, schools, marinas, breweries, post offices, police and fire departments, parks, banks, smoke shops, bars, gyms, pool halls, bowling alleys, playgrounds, soccer fields, basketball courts, and greenways. We have some of the best authentic and interesting restaurants in town. We have mom and pop shops, yacht clubs, waterfront views, medical and legal offices, small businesses, big businesses, and families. The Eastie community is very strong – whether you come from Back Bay or El Salvador, you can make this quaint part of Boston your new home with ease.  There are busses, trains, and boats to take you all around town, and beyond, if you don’t want to walk or drive to other parts of the city.

 I love it here -- we love it here -- and as soon as I have enough money saved up, I am going to invest it in this neighborhood’s real estate market. Currently I am renting in Maverick Square/ Jeffries Point – a 4 minute walk to the Maverick Blue Line T Station.  However, I am a value investor – I always have been – and I am a real estate agent and entrepreneur. Every day I think to myself how important it is to invest early before it is too late. This time next year, or even by the time the summer rolls around, it might be too late to invest in East Boston – at least in the Jeffries Point and Maverick Square regions. The fact that people are already talking about Eastie makes me think the rush has already begun, but Rome was not built in a day, and neither was East Boston.  Get in early and get in often! 

The two attributes that shine through every time I am in East Boston are LOCATION and VALUE. Other neighborhoods are contenders regarding value, like Allston, Brighton and JP, but those neighborhoods certainly do not share the LOCATION factor that East Boston has, and that is evident when you go make the trip from Eastie to Downtown in less than 10 minutes. 

In the residential real estate market we talk a lot about Back Bay, Downtown/Midtown, The North and South Ends, Seaport, Waterfront, and occasionally the Fenway. We do not discuss East Boston, and I plan on being the man to change that – even though I like my quiet, pleasant, fulfilling neighborhood the way it is, I know that this is the new land of opportunity – the new frontier – and I want to share that with you, your friends, and your family. 

The average price of Single Family, Condo, and Multi-Family in East Boston (11/28/2016):

• Single Family Home: $459,267.00  3 on the market ranging from $338,000 - $649,900
  • Avg Price/Square Foot: $309
• Condominium: $463,934.00  32 on the market ranging from $299,900 - $850,000
  • Avg Price/Square Foot: $475
• Multi-Family Home: $1,172,213.00  8 on the market ranging from $549,900 - $3,300,000
  • Avg Price/Square Foot: $310

The Average price of a 1, 2, and 3 Bedroom Rental in East Boston (11/28/2016):

1 Bedroom: $1,839  10 active listings, ranging from $1,500 - $2,300

2 Bedroom: $2,281  16 active listings, ranging from $1,500 - $3,800

3 Bedroom: $2,325  7 active listings, ranging from $1,950 - $3,025

BELOW you will find a list of great things to do in EAST BOSTON

Restaurants:

• Top 5

1. Rino’s Place
2. Mehak Halal
3. Italian Express
4. Cactus Mexican Grill
5. Saigon Hut

• Italian
  • Rino’s Place
  • Meridian Food Market
  • Italian Express
  • Santarpio’s
  • D’Parma
• Middle Eastern
  • Mehak Halal
• American
  • Roy’s Cold Cuts
  • Kelley Square Pub
  • Maverick Marketplace 
• Latin
  • Cactus Mexican Grill
  • Angela’s Café
  • La Hacienda
  • Rincon Limeno
• Asian
  • Saigon Hut
  • Little Asia
  • Hong Kong Harbor
• Other
  • KO Pies (Australian – like chicken pot pies, but more exciting etc.)
  • Donna’s Restaurant (Breakfast + Lunch, Orient Heights)

Nightlife/Bars/Entertainment

• Eddie C’s
• Kelley Square Pub
• Maverick Marketplace
• Ecco Lounge Boston
• Jeveli’s
• Central Park Lanes BOWLING CENTER
• El Diamante – billiards/pool hall
• Trivia, Karaoke, Sports – Maverick Marketplace
• Tufts Tobacco Smoke Shop and Lounge (very rare these days, Orient Heights)
• Parks, Soccer Fields, Walks, Boats
• Brewery Tour at Downeast Cider 
• Pockets Billiard Club (Orient Heights)
• East Boston Yacht Club + Jeffries Point Yacht Club 
• Food, Food, Food
• Beaches

TRANSPORTATION 

Water Taxis

• MBTA Harbor Express: 617-222-6999or 617-222-3200 
  • www.mbta.com/schedules_and_maps/boats
• Boston Water Taxi – Boston Harbor Cruises: 617-227-4320
  • www.bostonharborcruises.com/water-taxi
• Rowes Wharf Water Transport: 617-406-8584
  • www.roweswharfwatertransport.com    

The T

• Maverick Station
• Airport Station
• Wood Island Station
• Orient Heights Station
• Suffolk Downs Station

The Bus

• 110, 111, 112, 114, 116, 117, 120, 712, 713

Jesse Greenstein

jgreenstein@otisahearn.com

@nightstandmanagement

ZeroEnergy Design's Net Positive Farmhouse

“I believe in God, only I spell it Nature.”

— Frank Lloyd Wright

So yesterday, just like any other day, I found myself perusing the World Wide Web.  I like to just search things, browse, read, listen, shop.  Well yesterday I was searching for sustainable buildings made by Boston based architects.  I don’t know if you know this, but Boston is a hub for Architects.  They’re everywhere!  In fact, I was almost one of them.  I moved to Boston in 2008 to start my college education at Boston Architectural College.  Didn’t work out.

In my browsing, I came across ZeroEnergy Design’s Net Positive Energy Lincoln Farmhouse.  Not only does this house look great, it is great.  Great for everyone inside and out.  To me, it has this Scandinavian minimalist thing going on.  Remember, I’m coming from an antique and cluttered American perspective.  Rugs on rugs on rugs, but not here.

Ok, there are a couple rugs.  But they're not layered!

Let’s get down to brass tacks.  Let me pin up why this place is so cool (or not!).  The first thing that caught my attention, is that the house is totally electric.  I read that and was like, “wait what that’s so dirty and chaotic.”  But I got over it quickly.  Throw a couple Tachyon Disks over the fuse box and you should be good to go!  

Being 100% electric isn’t really an issue, because this house uses 70% less energy than a new home built to standard code.  Have you yet deduced why this house is called the “Net Positive Energy” farmhouse?  Because it produces 42% more electricity than it consumes!  I’m wondering if feeding back into the grid, how long this house will take to pay for itself.

One of the reasons this house is so efficient, is that it’s sealed.  You could probably submerge this thing.  Now that I think about it, this place could be the next Noah’s Ark.  Sealed and self sufficient.  I’m not going to get into the details of testing how air tight a building is, but it’s called the Blower Door method and is measured in ACH50, Air Changed per Hour at 50 Pascals.  The 2012 International Conservation Code set 3 ACH50 as the a good target.  This house is one of the tightest in the country at .27 ACH50.  In the case of losing power in the winter, and therefore heat, the house is so well insulated that it will take several days for the house to dip to 60 degrees.  There is one part of this house that’s outside the insulated envelope.  The root cellar!  Yeah, you heard me.  This place has a root cellar!

HVAC is not my area of expertise.  But this place has an “air source heat pump and energy recovery ventilator” and a “heat pump hot water heater.”  The kitchen appliances are conventional electric and Energy Star rated.  A monitoring system is in place, so the me owners can monitor their energy consumption.  The roof is covered with solar panels producing 13.8kW of power.  This house is even equipped to charge an electric car!

Since this is a farmhouse, it’s obligated to at least have a garden.  Well this place collects rain water for later use on landscaping and vegetable gardens!  On the whole, this house uses 60% less water than the federal standard.  I just hope this house isn’t connected to municipal water.  

I’m a huge fan of this house.  There was a lot of thought and attention put into it, as well as great craftsmanship with an eye for sustainability.  I think this is a great example of what we can do.  Let’s give credit where credit is due!

Architecture and Mechanical Design: ZeroEnergy Design

Construction:  Thoughtforms

Landscape Design: Soren Deniord Design Studio

Lighting Design: Lucia Lighting Design

Luxury as Time

“Most of us have no sympathy with the rich idler who spends his life in pleasure without ever doing any work. But even he fulfills a function in the life of the social organism. He sets an example of luxury that awakens in the multitude a consciousness of new needs and gives industry the incentive to fulfill them.”

— Ludwig von Miss

Rolex Air King, looks good for having logged over 2500 days of wear!

   Time is the only real luxury. When I buy an item or an experience, I'm essentially paying for time. Whether it be time spent learning or perfecting a craft, or the time it took to manufacture the item or the time to grow or make the components. Green bell peppers are cheaper than red, because they aren't ripe and there's a faster turnover. I don't eat green bell peppers, they aren't ripe!  I could make an amazing hand crafted watch. But I would have to learn how to mine, mold metal, and take several lessons in horology. I don't want to do that, but I still want a quality watch. So I outsource.  I trade my time to someone else for, in most cases, money.  Then I trade the money I received to someone else for their time. That can be applied to nearly every purchase I make. As I grow and learn, I invest time in my life and perfect better the things I put my attention to, making my time more valuable. And as I grow I have less time, also increasing its value. Baby cashmere has a greater value because it can only be collected once in a goat's lifetime, and is only a limited supply. With no time, there is no luxury.  I think there's an unlimited amount of money (according to the Federal Reserve there is), so it's in my favor to look to others who have put in the time to understand the things I have yet to understand.  

    Unless you're Eckhart Tolle, which would mean, according to the transitive property, that luxury is an illusion.  I have to agree with him, luxury is just as illusory as time.  Being present in the moment is the ultimate luxury, supersedes time, and can't be bought.  Luxury is not about having stuff, it's about having time.  When you're totally in the moment, there is no time.  When I'm doing something I love, and am totally in the flow, I can accomplish so much in so little time, or totally get lost in the day and feel like it passed in the blink of an eye.  But if you're having fun it doesn't matter, there's no better way to spend time than doing things you enjoy.

   Back to materialism for a second, because I want to connect my watch to luxury and to time.  It was a gift for my 18th birthday.  And you know what they say about gifts, turning down a gift is denying yourself love.  I've worn it every day since I got it, except that one time the pin fell out of the band.  That means it's spent 2,529 days on my wrist.  I swim with it, I shower with it, I change my oil with it, rock climb.  And it's still going strong!  I have only spent one day without it.  To me, that's a form of luxury.  It's able to withstand the test of time, and 20w50.  It also serves as a representation of my parents, the gift givers.  I look at it, and am reminded about all that they've done for me.

    Every once in a while I'm questioned why I would want metal strapped around my wrist.  Believe it or not, it's not because I want to know what time it is.  If I wanted to know the time, I would not look at a Rolex (that picture was actually taken at 6:12).  I think generally those that ask, think that it harnesses energy on my wrist that I might not want.  One woman said how she can't wear her watch because it makes her feel terrible.  I'm thinking, why do you have such a negative association with your watch?  I have more say than my watch, and I say it only harnesses the things I want!  While it may look like a piece of 904L stainless steel strapped to my wrist, it's much more than that.  It's filled with gold nuts (maybe even sprouted?), and gemstones like rubies, sapphires and diamonds.  They are not there to make the watch expensive, they're there because they serve a purpose.  They are more durable than metal, and significantly reduce friction, increasing the lifespan.  So sitting on my wrist is hundreds of years of watch development, using traditional and modern technologies, made with the best ingredients.   I know people that carry crystals in their pocket.  I carry them on my wrist.

Thank you for reading!