Daly City Rocking The Overbids

dalycity

#183

I agree I wish I csn pay more taxes that means I am earning more


#184

Congrats! 150k is great, where was your last flip?


#185

This logic is flawed. You can pay more taxes by not deducting mortgage too, doesn’t mean you earn more :slight_smile:

Here is a quote i learned not long ago:

“Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one’s taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands.”


#186

If the seller did no renovation, how much can he sell the same house he bought last year? We need to separate appreciation from flipping profit. Maybe the appreciation alone is already 120k to 170k.

From the old pictures, this house was move-In ready and was in decent condition. I think the seller might not even be a professional flipper. Maybe a real homebuyer turned into flipper due to relocation. The cost of renovation probably added zero profit for resale


#187

HUGE drop in price: $1,499,000 -> $1,118,880. Gosh I hate Chinese pricing. 2nd price drop already. Was trying to sell for 1,555,000 before. Also the agent is an idiot. Kept putting in wrong prices.


#188

$111,111,000 -> good thing we don’t have one click buys on redfin.


#189

:wink:


#190

Sold already? So fast.


#191

Only 17 days of holding time? Is it just a paint job?


#192

Held for 8 months. I think the agent posted the sale 7 months after the fact.


#193

Chinese pricing is not gonna save them. Too close to the mortuary.


#194

Mortuaries are quiet and peaceful.


#195

Yeah, I’ll pass on the inlaw unit in there…:grinning:


#196

@myo your wish came true :slight_smile:


#197

:scream:


#198

w00t! too soon that I am a bit scared. To be fair it is quite nice. I want St. Francis area to hit that then I can consider trading all of them with cash flowing multifamily and retire.


#199

Btw I m right now at one of my inlaw unit in Daly City and all 5 groups who showed up want to submit the application. Just finished legalization two days ago and we are still cleaning up. Rent is strong.


#200

I wonder what the seller is going to do with his 500k proceed?


#201

Granted it is remodeled, but still, more than doubled in 5 years. seller did a good remodel job.


#202

Yes, killer numbers = killer price!!! Cha-ching and Happy New Year to you!!!