The Sunset Rocking The Overbids!

sanfrancisco

#544

Thanks dragon. Just sharing some personally points of views.


#545

Agreed on 4 bedrooms too. “LUCK” plays a huge factor too


#546

You def know your stuff. In the market or just like RE porn???


#547

Take a guess :grin:


#548

Gosh, it could go either way. I can see you as an investor type or someone looking to buy for himself. We have all types here.


#549

Maybe $250k. So ended up with $250k profit which is not bad.


#550

I would say 250k would be on the really low end plus hard to hit the 2.0 mark AND factor in holding cost too.


#551

Agreed, but the thing is or was, the investor made it happen on another property nearby (bought not cheaply and flipped close to 1.9M I heard) and I guess he thinks he can strike lightning twice…I hope he does it. I was also told that he can’t have his workers sitting on the sidelines. So some profit is still better than idling… I know, crazy…


#552

Actually $250k might be high if no major rearranging is needed. Holding cost can be eliminated if purchased with cash and deep pocketed flippers have that.


#553

I see. If you have to assess, and it’s just a guess how much do you think " cost" was for the 16th Ave, 33rd Ave and the ulloa one ?


#554

250k, 350k, 350k


#555

If you are working as the general contractor, what’s your per hour cost? What’s the profit for investor and the profit for general contractor?

If I want to flip a house by hiring general contractor, my profit could be very slim.


#556

Ulloa would be the lowest cost for sure by far.


#557

That’s the one sold for $2.1M right? I gave them benefit of the doubt because it got sold for so high.


#558

No this one


#559

250k?


#560

To me it’s less than 200k bad flip but KILLER profit


#561

200k sounds quite low. The flipper might have to help out with the labor in order to accomplish that.


#562

Sunset has been appreciating faster than Bernal, but I still think you get more for your money in the Sunset than in Bernal. If that appreciation difference continues that won’t be the case for long now.

Non-Asian recent Sunset buyer here.


#563

Let’s compare “Asian” neighborhoods with “white” neighborhoods:

Sales stats (last 3 months):

Outer Sunset: $1.173M
Sunset: $1.388M
Inner Sunset: $1.660M

Mission: $1.095M
Bernal Heights: $1.380M
Noe Valley: $1.900M

Asians are more concentrated in the middle. Whites have more extremes (they are either very rich or very poor… :rofl:)