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Behind the scenes at 2 Bay Area house flips


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2013 Jun 3, 2:16am   1,887 views  5 comments

by FunTime   ➕follow (1)   💰tip   ignore  

http://blog.sfgate.com/ontheblock/2013/06/02/behind-the-scenes-at-2-bay-area-home-flips/?source=Patrick.net

Walnut Creek. While buying homes to hold and rent out has became a popular business model, Presidio Realty Advisors kicks it old school by buying dilapidated properties, doing extensive renovations and then reselling, or “flipping” them. Here’s a look at two recent flips — so recent that they’re still in progress. We’ll revisit these homes in a future post with the final “after” photos, but for now, consider these “Before” and “In Process.” First up (top of page), a one-story Martinez home that could easily have starred in an episode of A&Es Hoarders; in fact, the former tenants were hoarders...

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1   FunTime   2013 Jun 3, 12:01pm  

Seems like they have the insight to do $50k of work to add $100k of price. I'm sure it's not that hard as people's eyes glaze over with how much money they're spending to buy.

2   Eman   2013 Jun 3, 2:00pm  

In most cases, the average buyers don't even get a shot at these properties. The fucking realtors and their buddies get the first dip at it. They only pass the crap, that they cannot chew, on the market for end buyers.

The game is rigged.

3   JodyChunder   2013 Jun 3, 4:36pm  

E-man says

The game is rigged.

How can you say such a thing?

What the hell are you thinking???

4   murakami   2013 Jun 7, 1:02pm  

Say hello laminated flooring, granite counter tops, and 60A service panel! oh, and beautiful new appliances. and a fresh coat of paint. ready for move-in, suckers.

5   thomaswong.1986   2013 Jun 7, 2:36pm  

from the article...

"The house should go on the market for about $375,000 to $400,000"

whats wrong with this picture ? this home shouldnt be more than $200K "if that"
based on on incomes. There isnt enough inflation, income or home to warrant such
a high asking price...

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