Victorian Vice

In: English and Literature

Submitted By webinvest
Words 315
Pages 2
I will contribute a real one later.

In June of 2006, Edward Alexander began searching for a small income-producing apartment building in which to invest. Alexander had graduated from Harvard College four years earlier, and he was working for a biotech firm in Cambridge, Massachusetts. He had grown up in Boston and was attracted to the investment potential of the Back Bay-Beacon Hill area, which he considered the best residential section of downtown Boston. Many of his contemporaries were renting apartments or had purchased homes there, and he and his wife had attended many of their parties. He considered paying rent to someone else a waste of a capital building opportunity, since he was building up someone else's equity.
Alexander wanted to gain experience in the real estate field, and build an equity base for future real estate investments. He hoped to increase his return by managing and operating his property on weekends and after normal working hours. Through a modest inheritance and a series of jobs Alexander had cobbled together savings of $80,000, and now wanted to give his investments a focus and achieve maximum leverage for this equity. Although he had no real estate experience, he had a working knowledge of carpentry from three years of designing and building sets for Harvard's Hasty Pudding Show.
Beacon Hill Properties
Alexander began to spend all his free evenings and weekends becoming familiar with the area. He obtained a copy of the U.S. Census Tract, Boston Standard Metropolitan Statistical Area (SMSA) to check the demographic data on age breakdowns, education, employment, marital status, income, length of stay, and ethnic background of present Beacon Hill residents. Most were transient, and either single or newly married. He checked maps for distances to the city's office, shopping, cultural, and entertainment centers, and found that Beacon Hill…...

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