Dude, hordes of people. I took pics of the double parked cars… ridiculous. The Machine had a protege there, salivating and taking in everything The Master says to each and every visitor…
That’s crazy. Never try to buy a house like that. You can never get any good value out of it! The bidding will eat away all your upside. But good for the seller.
Agreed! Again, we were there to size up the competition since my extended family is about to unleash a similar center patio home onto the market in a matter of weeks. I won’t go into it (yet) but I know real estate agents come in all different shapes and sizes (and ethically good and bad) but oh the stories I can tell right now. Let’s just say, real estate agents (even experienced ones) can be very cunning and lazy…
Man, just think about reaching Michael Jordan status in your profession!!! I am sure he don’t need to drive anyone around to look at places. What for? He has all of the listings already!!! Just come to my open house next Sunday… Yeah, and I have another one the following 2 weeks if that one doesn’t suit you… I have to admit, the last few open houses of his that I have gone to, they were nicely staged and he goes all out on nice, expensive color brochures (not b/w flyers). It would appear that he takes care of his clients and I can’t knock him if that is the case. Shoot, I can get my RE license but what is the point???
Someone mentioned don’t buy with occupied tenants. How about with a tenant vowing to fight eviction? (See pic) No problem, how about “just” 200k over asking??? Note chinese pricing strategy in effect!!!
https://www.redfin.com/CA/San-Francisco/1531-18th-Ave-94122/home/632396
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The seller could’ve evicted the tenant herself and sold for more… but I think she probably was emotionally not in the right place to be dealing with that.
Well, since this went fairly cheaply for technically inner Sunset I guess the buyer was up for the trouble and expense of lawyering up…
Maybe the Chinese buyers don’t know English and didn’t know what they are getting into?
Renters’ feeling of entitlement is BS.
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Why do we always have to assume Chinese buyers being very rich but very dumb?
Come on, seriously? They knew and were/are up for the fight. Like you said before, you may not have a stomach for it but some buyers (especially ones who keep losing out on homes or can’t find anything decent) are willing to wade into murky waters.
To me, this is no different from what I have been seeing in the descriptions about low rents currently. Years ago or maybe not that long ago, who didn’t look at current rent levels to price a building price accordingly? Now, the descriptions seem to emphasize that yeah the rents are low so hint, hint, you will make out if you can raise them somehow (even if realistically rent control or other reason). Desperate measures in desperate times…
Lived there 21 years with $2K current rent…seriously these renters seem like losers to me, even more so with the banner.
You guys are so funny with the machine. But seriously pure profit is not as great as it seems. Even if it sells 1.5 mil the golden rule is take off 6% for sales commisons, staging transfer fees in sf so 6% is a safe number - Reno cost and your profit is usually in the 100k to 200k range but not the 500k range. Hope that helps
Your behavior? 
They took a risk that turned out to be not favorable, we look at it now and think we would not make the same mistake and that they are dumb. That is how we make ourselves look smart 
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Ok, another pretty standard tunnel entranced Sunset home just past Sunset Blvd that is remodeled and staged. Middle of the block so nice big yard (needs developing). Bonus room down (prob not warranted) but with tunnel entrance inlaw for additional income purposes is def there. Nice street address number (184) with a nice red painted front door to suck in all that good luck. Listed at 898k and sold for 1.255M, a nice 357k overbid.
Ha, I like to be rich and smart, which I am… 
I think we are getting spoiled. 1.25M is no longer impressive by Sunset standard. It needs to be 1.5+ to generate respect…
You mean the reference to Jason, the serial Sunset listing agent? The man is truly The Machine!!!
Yes, we are getting spoiled. Outer Sunset, now. The amazing thing is, the demand is just insatiable. Every house listed is sold. Period. And way over asking. Yeah, so is every other neighborhood and town around the Fab 7x7 you say. Probably so. One would just expect some pause to the market but no, it is just not happening. Sis-in-law’s family home is about to go live, so it will be interesting to see what happens there. All I know is, someone already offered 1.3M and they said you can stop with the remodeling, we can take it from here…all cash baby…
That buyer sounded really desperate… not a good idea to try to get a house.
To get a good deal, you have to be like, ok, I’m the only one you have. You don’t take my offer, your house is not going to sell! I recently bought 2 houses just like that.
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That’s the beauty of it…it is an experienced flipper thinking expansion and potential even higher selling price…