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You're gonna "Eat It" if you try to flip in SF Bay Area--I thought of the "patrick.net of old today" :)


               
2019 May 21, 5:17pm   2,237 views  17 comments

by bill   follow (2)  

Dis Guy Who Quit His Job to "Flip" Took a $400K Bloodbath...

https://www.bloomberg.com/news/articles/2019-05-09/young-real-estate-flippers-get-their-first-taste-of-losing

As Yogi Berra would say: "It's like déjà vu all over again." :)

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13   bill   @   2019 May 22, 7:07pm  

Thanks for all the interesting info! Flippers do take a lot of risks! They have more guts than I do. They say the more the risk, the greater the reward. So go for it :)

I love the comment that Real Estate is largely unregulated. Hard to believe but a great point! It is BUYer Be Careful (the basement may flood and the roof leak).

Ha! I haven't seen any threads about this story in the Mercury News that I totally find hard to believe. So why is this lot empty?!

https://www.mercurynews.com/2019/05/22/its-a-vacant-palo-alto-lot-but-who-can-afford-it/

The darn Merc has a Pay Wall!!! Anyhow, it is a story about a $9 million EMPTY lot near where Steve Jobs used to live in Palo Alto :)

Here's the same story without a PAYWALL https://sanfrancisco.cbslocal.com/2019/05/15/empty-palo-alto-lot-hits-market-for-9-million/

Wonder who first broke the story? Wonder who the buyer will be and will she or he be in a "bidding war?" Stay tuned :)
14   FortWayneAsNancyPelosiHaircut   @   2019 May 22, 7:16pm  

They add no value. They are the types who basically end up screwing buyers and families by forcing higher pricing. This is pure greed on them.

I think I hate these guys. Fucking assholes. Flippers and realtors should be shot at point blank. Especially any with Realtor(tm) association.
15   FortWayneAsNancyPelosiHaircut   @   2019 May 22, 7:22pm  

When we decide to sell our CA property here is what listing description will be:

“For sales by owner, to families only, no bidding wars, slightly underpriced to sell fast, first qualified offer will be accepted. investors, bankers, and realtors will be shot on sight.”
16   BayArea   @   2019 May 22, 7:45pm  

FortWayneIndiana says
When we decide to sell our CA property here is what listing description will be:

“For sales by owner, to families only, no bidding wars, slightly underpriced to sell fast, first qualified offer will be accepted. investors, bankers, and realtors will be shot on sight.”


I like that.
17   SunnyvaleCA   @   2019 May 22, 10:53pm  

FortWayneIndiana says
When we decide to sell our CA property here is what listing description will be:

“For sales by owner, to families only, no bidding wars, slightly underpriced to sell fast, first qualified offer will be accepted. investors, bankers, and realtors will be shot on sight.”

I'd add one more thing: "If you want a buying agent, you pay them out of your own pocket. Figure that into your costs, not mine."

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