Rich SF residents get a shock: Someone bought their street


#41

You are probably referring to this, which I posted when it first come online. I guess one of you should have taken me up on it. Granted not Presidio Terrace, but still…$$$$$$ potential???


#42

You need a lawyer on the team. If @User4 wants in we can talk.


#43

Yeah that’s it! I had a feeling I saw it here but didn’t remember who to give credit to.

What do you know, it’s still listed!

Why don’t the surrounding homeowners form an HOA and protect their homes for just $1k each?? Stupid.

edit: screw it, I emailed the guy. The listing kinda looked fake (talking about selling air rights to the navy!)


#44

They are not some random couple. Both of them are realtors and have been investing for a long time.

The husband is a prolific authors on quora (for real estate investing)

But my guess is that the residents probably are a lot more wealthier and have a lot more connections.

I expect they will still settle, just not the $$$$$ amount they originally asked for.


#45

Like our Fearless Leader said, we should pony up together and buy it!!! Come on, ONLY $35K. Let’s say a dozen of us go in on it for about 3 grand each. Come on, @Elt1 spends more than that on on a nightly BBQ and strip club outing…

Come on, @manch, think about the publicity your lil website would get (real estate posters buy street)??? Imagine the potential for advertising. Shoot, maybe then you can move up from condos to real houses…:grinning:


#46

My dad has bought land under similar circumstances. He didn’t even know what the parcels were. Just they were near a lake and $500 each. Turned out one was the beach. The HOA lost it for not paying property taxes and no one even knew.


#47

The Chinese couple so far made all the right PR moves. “We only want to own a little piece of San Francisco.” Yeah, right. But that sounds nice. They are young, and wife looks cute in her little blue dress. That counts for something. The old rich people on that street only spoke thru their lawyer who made menacing threats. Not exactly a good look.

This is mostly a political and PR fight. Law is on the couple’s side. And so far they are winning the PR game. Who doesn’t root for the underdog, especially against the bad old rich people who skipped on their taxes? I bet there is a family or two on that street who don’t want the bad PR of squashing the young couple.


#48

I don’t know about that. At the end of the day, people will side whichever side their money is on and unfortunately this sneaky couple got them on a technicality (even if the hoa screwed up twice or more). Who wants to know one day that the street that is in front of their home is no longer theirs? One would think after the first time, they would have learned their lesson…


#49

They can install some portable potties and move some homeless there. I don’t know who live on that street, but my spider sense tells me they are jerks. Yeah, stick it to 'em.


#50

Dude, in some ways you and most of us aspire to be like these people, RICH or WELL OFF… Let’s not kid ourselves…


#51

Nobody get to that level of wealth without some blood on their hands. How much are those houses up there? 10M? 20M?


#52

I wouldn’t be surprised if some of them inherited the places from their parents or grandparents. Remember that Metallica guitarist I think who lived in Sea Cliff? Generally speaking, I wouldn’t say he had blood on his hands right? When you think about it, a doctor can easily pay that. Yes, that is real blood on his/her hands. Come on Manch, let’s get back to the real world now…


#53

Still, wouldn’t you agree having portable potties and homeless on that street is funny as hell? The rich and famous talk a good game being compassionate and crap. Let them show some real emotion for once.


#54

Homeowners can also sue the Hoa management company. Problem is that the Hoa manager may not be rich and can declare bankruptcy


#55

Yeah, I was going to say, the HOA ought to be fired!!! Goes back to what I have always said: a PM essentially will never do as good as a job as you will.


#56

Last year’s listing. 14.5M.

“Very nice but ridiculously expensive home, with all the woodwork painted over,” noted Curbed SF commenter castrobeast, who added these words of staging wisdom, “And stop putting TVs over fireplaces. What a dumb idea. It’s such a poor position from which to watch TV.”


#57

HOA management company only does what the board tells them to do. The board has to authorize any expenditures. You could sue the board and they could make a special assessment to pay it off. Essentially you would be suing yourself.


#58

Which is why you (the owner) mind as well do things yourself, whenever possible…


#59

You know investor types are going to check out the status of these streets…


#60