U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Texas > Houston
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply Start New Thread
 
Old 05-20-2010, 08:20 PM
 
12,673 posts, read 12,955,692 times
Reputation: 2515
Quote:
Originally Posted by travelguy_73 View Post
If you can find reliable information on who and where the high net worth individuals are, there are MANY private bankers who would like to take you to lunch. And dinner. And possibly on vacation.

Most prefer to live under the radar because they don't want the publicity. Credit scores don't get you there. They don't provide financial statements (except to the banks they owe money to), and leases and easy mortgages and credit muddy the waters of the higher end neighborhoods.

Good luck in your search!
Private bankers will take me to lunch and vacation for? How much do they make on average?
Reply With Quote Quick reply to this message

 
Old 05-20-2010, 08:32 PM
 
Location: Lake Conroe, Tx
637 posts, read 1,996,075 times
Reputation: 389
Quote:
Originally Posted by Texas User View Post
Even if the person is not in a foreclosure, what about their net worth? Assets - Liabilities.


You can tell the fakers (the ones in debt up to their eyeballs) from the players real easy.

I would consider most folks living in River Oaks and Memorial to be millionaires; when most of the homes in there are selling for 2-5M it would be pretty tough to fake it in there.

Just for kicks I went through all the sold listings in there over the past year, most of them had no loan on them; that means those folks are "liquid".

Another fact is they are not going to let loose of their last 4M to buy a home and leave themselves empty so there is usually plenty more $ where that came from. Even the ones who do carry a house note in there would have to make a healthy salary to be able to qualify for a home of that kind of $.

Same goes for the cars they drive; most of the Ferrari's, Bentley's, Aston Martin's you see on the road are bought for cash (no loan).

The people who drive the BMW's, Benz's, Vette's etc are more than likely the ones who carry the loans. Those are the same people who stretch/max their budget to buy a 1M house in a high end neighbrhood such as Carlton Woods tryiing to impress their friends and neighbors who are also in debt.

Add to that there are plenty of people from River Oaks and Memorial and othe parts of Houston (not CA, NY or FL anymore) that come up to Lake Conroe to purchase "second, or weekend lake homes"; those transactions are most always for cash. I would say that someone who can pay 1M cash for a weekend get away is probably a millionaire...

Source; HAR MLS
Reply With Quote Quick reply to this message
 
Old 05-20-2010, 08:45 PM
 
12,673 posts, read 12,955,692 times
Reputation: 2515
Quote:
Originally Posted by Lake Conroe resident View Post

You can tell the fakers (the ones in debt up to their eyeballs) from the players real easy.

I would consider most folks living in River Oaks and Memorial to be millionaires; when most of the homes in there are selling for 2-5M it would be pretty tough to fake it in there.

Just for kicks I went through all the sold listings in there over the past year, most of them had no loan on them; that means those folks are "liquid".

Another fact is they are not going to let loose of their last 4M to buy a home and leave themselves empty so there is usually plenty more $ where that came from. Even the ones who do carry a house note in there would have to make a healthy salary to be able to qualify for a home of that kind of $.

Same goes for the cars they drive; most of the Ferrari's, Bentley's, Aston Martin's you see on the road are bought for cash (no loan).

The people who drive the BMW's, Benz's, Vette's etc are more than likely the ones who carry the loans. Those are the same people who stretch/max their budget to buy a 1M house in a high end neighbrhood such as Carlton Woods tryiing to impress their friends and neighbors who are also in debt.

Add to that there are plenty of people from River Oaks and Memorial and othe parts of Houston (not CA, NY or FL anymore) that come up to Lake Conroe to purchase "second, or weekend lake homes"; those transactions are most always for cash. I would say that someone who can pay 1M cash for a weekend get away is probably a millionaire...

Source; HAR MLS

How do you tell from the fakers and the real millionaires? You can own a 2$ millionw with a 30 year mortgage, good credit and a income of like $60K a year.

Do they pay cash for these homes? No loans of any sort? Now your posts are really making sense and getting right to the point. I thought most vacation homes were in Galveston?
Reply With Quote Quick reply to this message
 
Old 05-20-2010, 08:49 PM
 
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
10,180 posts, read 4,589,335 times
Reputation: 4047
Palm Royale in Sugar Land
River Oaks
Memorial

Just three off the bat.
Reply With Quote Quick reply to this message
 
Old 05-20-2010, 08:53 PM
 
12,673 posts, read 12,955,692 times
Reputation: 2515
77019 seems to be the highest Real Estate in Houston.
Reply With Quote Quick reply to this message
 
Old 05-20-2010, 08:55 PM
 
12,673 posts, read 12,955,692 times
Reputation: 2515
Quote:
Originally Posted by OmShahi View Post
Palm Royale in Sugar Land
River Oaks
Memorial

Just three off the bat.
Cinco Ranch in Katy?
Reply With Quote Quick reply to this message
 
Old 05-20-2010, 09:00 PM
 
12,673 posts, read 12,955,692 times
Reputation: 2515
Who is from 77019 here?
Reply With Quote Quick reply to this message
 
Old 05-20-2010, 09:03 PM
 
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
10,180 posts, read 4,589,335 times
Reputation: 4047
Quote:
Originally Posted by Texas User View Post
Cinco Ranch in Katy?
Not all of it, that's pretty vague, it's like saying Avalon in Sugar Land, the neighborhoods can range from middle class to high upper class.

That's why I said the name of the street of Palm Royale.

I know there are some in the millions in Cinco Ranch of Katy area, but I am not familiar with the street names/subdivision names.
Reply With Quote Quick reply to this message
 
Old 05-20-2010, 09:04 PM
 
12,673 posts, read 12,955,692 times
Reputation: 2515
Any famous people that live in one of these areas?
Reply With Quote Quick reply to this message
 
Old 05-20-2010, 09:12 PM
 
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
10,180 posts, read 4,589,335 times
Reputation: 4047
Quote:
Originally Posted by Texas User View Post
Any famous people that live in one of these areas?
Roger Clements has a place in Palm Royale, Tracy McGrady too- yes he kept his house even after being traded lol, and some CEO's and stuff, and Mike Jones, all of them live on Palm Royale.

Those were just the ones I know of.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2011 data
Loading data...

123
Hide US histogram

Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Texas > Houston
Similar Threads

All times are GMT -6. The time now is 08:33 AM.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top