OfflineIronically in the same week that Facebook announced the axing of a privacy setting, billionaire Facebook chief Mark Zuckerberg prevented the building of a spectator mansion adjacent to his main 5,617 square-foot home.
Zuckerberg is using a classic buy-and-hold strategy which has been used by numerous billionaires such as Google chief Larry Page and the late Apple CEO Steve Jobs. This approach allows the wealthy to ensure their privacy by preventing the destruction of nearby homes and vetting the neighbors.
Enough Money Speeds Up Time
Most people buy homes when they come on the market, but when you’re Mark Zuckerberg and have a net worth of $19 billion you don't have to settle with such inconveniences. According to the San Jose Mercury News, the 29 year old isn't planning on evicting his now-leasing neighbors, but is enjoying having control over how the properties are marketed and subsequently sold.
The purchase of four Palo Alto, Calif. homes ($30 million) surrounding his home allows Zuckerberg to not only prevent a spec mansion but brought the neighbors a considerably sized bonus. The average Silicon Valley home is worth around $1.8 million. Thus, we can certainly say that the four neighbors of Mr. Zuckerberg made a sizable profit upon selling.
No Trail of Breadcrumbs
Forbes informs us that we won’t find Zuckerberg’s name on any of the property records. The four homes were apparently purchased by a subsidiary group of Iconiq Captial, a San Francisco-based money manager group representing numerous billionaires in the Silicon Valley.
It is common for the rich and famous to purchase properties using entities to allow anonymity. Recall in the mid 1960’s when Disney used numerous dummy corporations to purchase 28,000 acres of Florida real estate for near rock bottom prices to build the world-renowned Walt Disney World.
Forbes states that they can confirm... Read more at http://www.bankforeclosuressale.com/wp/article-10224443.html
Very interesting article. I love it:)
___________________________________
TC
Miami, FL
Keep TAKING ACTION + gaining KNOWLEDGE = SUCCESS (Making Money)
"If it is important to you, you will find a way. If not, you'll find an excuse."- Karen Ellsworth
"Faith is taking the first step even when you don't see the whole staircase." - Martin Luther King, Jr.
"If you are not making offers on properties you can not make any money" - Success Coach
Follow me on my road to riches http://www.deangraziosi.com/real-estate-forums/investing-journals/144538...
TC
Miami Florida
"If you are not doing something that help the universe or God or your family, or YOU, is that something you should still be doing?"-Dean Graziosi
"Each day do one thing to get you closer to your dreams because if you do today what others are not willing to do, then tomorrow you can do those things that others are only dreaming about doing!"- Joe Jurek
Follow me on my road to being a BILLIONAIRE http://bit.ly/1q7aOFX
Go LIKE my official facebook page http://on.fb.me/1qQGO6i
Well i am in luck then i know none of them will buy up any properties around my area, its not rich enough for them
I was working for them now i work for me !
If you always put limit on everything you do, physical or anything else. It will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them.” - Bruce Lee
Think Jay Leno poked fun of the irony of this!
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.