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San Jose Real Estate Investors Buy Mansion Lined San Francisco Street for $90K


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2017 Aug 8, 8:37am   3,647 views  19 comments

by BayArea   ➕follow (1)   💰tip   ignore  

http://www.mercurynews.com/2017/08/07/golden-opportunity-san-jose-real-estate-investors-buy-mansion-lined-san-francisco-street/

Will a massive section-8 sky-rise go up right at the door step of those mansions lol

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1   Tenpoundbass   2017 Aug 8, 8:43am  

This is why HOA's are a huge Scam and anyone that would buy a house and give the type of people who run HOAs and their Lawyers money, takes it up the can.

Seems to me that land should have became City property and the city could have then taxed the shit out of the residences to use the County services.
They would have made a hell of a lot more than $90K in the first year alone.

This is just more gross Crony negligence for Liberal governed Zipcodes.
Everyone is San Jose should sue the shit out of the City planners for this one.

2   BayArea   2017 Aug 8, 8:45am  

Yes Tenpoundbass,

I owned one property with HOA (sold last month) and decided that was my last. The rules, the complaints, the rising rates, the emergency assessments, the failure to take responsibility... enough is enough.

3   BayArea   2017 Aug 8, 8:48am  

Tenpoundbass says

This is just more gross Crony negligence for Liberal governed Zipcodes.

The irony is that there are some high profile famous liberals living in those mansions.

4   Tenpoundbass   2017 Aug 8, 8:53am  

I found out what they were all about during my flooring installer days.
A guy buys $10,000 of Biggalo and Sisal carpet took a day off from his High Power Lawyer job to let me in and do his McMansion.
Only to have some Stay at home community prick to make his life hell because he didn't tell Murray he was having it done today, so I get turned away from the Guardgate and told to reschedule.

When my brother bought his first house back in 97, I warned him about buying into a HOA.
He had the house for three years. His car got stolen and wrecked, he had in his front yard while he considered what to do with it for a week.
During that week he spent it at his Girlfriends house so she could give a ride to work.
The HOA posted a notice on his door that got blown away in a thunderstorm(He reckons it was the rainy season).
He never saw the 3 day notice. He had the car towed a week or so latter. The 5 or 6 days of fines that was warned in the letter he never got because it was posted on his door, and not mailed to him. They came after 16 months later, he was surprised there was ever a fine. They never mailed him any other notice. Until they sent a collector after him.

They sued him and foreclosed on his house. Because he didn't have the $12K in legal fees, and fines and latefees. They are out to get your house the minute you slip up.
Evil bastards!

5   BayArea   2017 Aug 8, 9:24am  

What your brother went through sounds like what the mansion owners above went through... A notice that never reached the intended recipient.

HOA, absolute hassle all around.

In the rental property I owned, the HOA required a $300 fee any time someone needed to move in or out. For what??

Despite paying $450/mo, they still hit all owners with two emergency assessments over the last 3yrs, totaling over $10K. My ROI was totally fooked those three years.

Like I said, even though I liked having the bushes trimmed and watered, I'll never be under an HOA again.

6   RWSGFY   2017 Aug 8, 9:30am  

BayArea says

What your brother went through sounds like what the mansion owners above went through... A notice that never reached the intended recipient.

HOA, absolute hassle all around.

In the rental property I owned, the HOA required a $300 fee any time someone needed to move in or out. For what??

Despite paying $450/mo, they still hit all owners with two emergency assessments over the last 3yrs, totaling over $10K. My ROI was totally fooked those three years.

Like I said, even though I liked having the bushes trimmed and watered, I'll never be under an HOA again.

$450 just for bushes trimmed and watered? Sorry, but it sounds like BS. You sure there were no pool/tennis court/common roof/EQ insurance involved?

7   Tenpoundbass   2017 Aug 8, 10:33am  

SpecialSnowflake says

$450 just for bushes trimmed and watered? Sorry, but it sounds like BS.

That's all you get in most Gated Communities in Weston Florida.

There's a main development Community center but it services 5 to 8 sub gated communities. And all you can do is just go there and congregate and bitch about other people.
They prohibit virtually everything else, and are signs posted everyone warning as such.

8   Tenpoundbass   2017 Aug 8, 10:35am  

It Costs a lot to keep the community manicured to look like a Disney resort.

They could have every sporting facility known to man for what they pay for all of that upkeep.
I bet the biggest bill is the water bill to the City.

9   RWSGFY   2017 Aug 8, 10:47am  

Tenpoundbass says

SpecialSnowflake says

$450 just for bushes trimmed and watered? Sorry, but it sounds like BS.

That's all you get in most Gated Communities in Weston Florida.

And they say SFBA is expensive....

10   Ceffer   2017 Aug 8, 10:48am  

All they bought was a headache and the right to fight with a bunch of entitled richfucks who will use the legal system to harass and impoverish them forever. They will wind up giving the street back at a loss to get rid of the controversy, unless they went in with a legal war chest prepared to enable them to counter-extort in kind.

11   RWSGFY   2017 Aug 8, 10:52am  

Ceffer says

All they bought was a headache and the right to fight with a bunch of entitled richfucks who will use the legal system to harass and impoverish them forever. They will wind up giving the street back at a loss to get rid of the controversy, unless they went in with a legal war chest prepared to enable them to counter-extort in kind.

True dat. The very judge who's going to hear their case probably lives on that street. Or his brother-in-law. Or his golf buddies.

12   Strategist   2017 Aug 8, 10:54am  

He he he. Someone is gonna make out like a bandit. This is just a lottery ticket.

13   NDrLoR   2017 Aug 8, 11:28am  

BayArea says

some high profile famous liberals living in those mansions

Apparently Nancy Pelosi was a former resident, according to the story.

BayArea says

A notice that never reached the intended recipient.

The notice was sent to the address on record in the case of San Francisco--like they said, the homeowner is responsible for the fee whether they get the notice or not and should be aware of that.

14   Ceffer   2017 Aug 8, 11:31am  

Just what I want: to be air dropped into the midst of some of the most toxic, entitled, monied people on the planet while being perceived as an outsider who invaded their privacy and took something away from them. The new "owners" better have the fighting skills of wolverines and the ferocity of honey badgers.

15   BayArea   2017 Aug 8, 11:37am  

The fact that the $900 bill didn't reach the homeowners is a little fishy.

Someone between the HOA company and the city had some special interest in this?

16   Booger   2017 Aug 8, 1:44pm  

If it takes the city ~30 years to auction off your property, why does anyone in SF bother to pay their property taxes?

17   HEY YOU   2017 Aug 8, 2:51pm  

Whatever the reason,that's funny!

18   anonymous   2017 Aug 8, 5:54pm  

Gentle Reader,

"Oh, dear! This is just tewwible!. My, god! I thought this only happened to the little people?"

Fuck right the hell off, Assholes. It's finally your turn for a little while. Forgot to pay $14 in taxes for decades.

Autofellators. Fisting Bitches.

Regards,
Roidy

19   MoneySheep   2017 Aug 8, 7:04pm  

P N Dr Lo R says

The notice was sent to the address on record in the case of San Francisco--like they said, the homeowner is responsible for the fee whether they get the notice or not and should be aware of that.

The homeowners are suing the city to rescind the sale of the street. I hope the homeowners lose.

Oh, $14 a year in tax? That low? Are you kidding me? Thanks to Prop 13.

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