About SFace


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Registered Dec 02, 2009

Your whole life is summarized by the credit card you carry.

You have your debit card,
you have your no benefit credit card,
you have your gold, platinum and black card.

My old boss and father-in-law carries the Amex Black, which inspires me to work on the same. It says a lot about yourself and what you demand of yourself. Some poeple want surf and turf, some wants caviar and Foie Goie yet some just want a full stomach.

What do you want in your wallet?

SFace's most recent comments:

  • On Thu, 8 Oct 2015, 11:16am PDT in Homes as ATMs: It's starting again, SFace said:

    net of tax, borrowing cost is around 2-3%. makes perfect sense for the financial savvy. if you have another means to borrow large sum of cash at less than 3%, let me know.

  • On Thu, 8 Oct 2015, 11:08am PDT in Advice on what to do with inherited house in San Francisco?, SFace said:

    Patrick says

    so tell me how to go from that to the correct price to pay. the problem is that rents still do not cover expenses, not even in sf. just pay anything? whatever the seller asks?

    It's damn if you buy and damn if you rent. Wither way cost a shitload of $$. No advice here other than there is no need to sell when supply/demand is in landowners favor. A seller's market means they choose buyers. Buyer's don't call the shots so rent price is irrelevant.

    That SF rent/price argument was the same 5 years ago, 10 years, 30 years. It does not work. Time to think about thinking about housing in a different way. Ratio always tell you to buy in the Ghetto and not buy prime, which is opposite of reality. People buy prime and will pay even more in the future. location location location is going to be location X5.

  • On Mon, 5 Oct 2015, 10:52am PDT in Advice on what to do with inherited house in San Francisco?, SFace said:

    Why I would not sell in San Francisco.

    * No new SFH for the past 40 years or forever. Owning land is a no-brainer
    * San Francisco's industry is just getting started. Rents are not calming down anytime soon.
    * Low property tax. Not just you but 80% of the homeowners. Combine with step up basis and you have a homes that are off the market forever. Supply will always be chump change.
    * There is no basics of a crash (supply, locked in low interest rates with huge equity cushion and local economy).

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