Flipping (South Oakland)

This flipper is in trouble… 4/2/2400. Bought for 410K last December. Just 2 months later trying to offload for 530, had one transaction fell thru and is still sitting on market.



That’s lighting speed to finish everything in 2 months. I wonder how good their work really is… :thinking:

Where is this, near the Airport off Hegenberger? One can always have a good contractor or inspector do the once over but honestly if it is gonna be a rental your own assessment may be good enough. I am sure you have seen enough homes to recognize shoddy workmanship when you see it.

I know these guys and partnered on a flip with them. Not sure why so many price reductions on this but, these guys are serious flippers, they avg 10-15 flips a year and they know which property to do the proper flip and where to lipstick it.

This was a previous flip from them:

718k - cash buy
60k - rehab/staging/low cost brokerage/they are RE agents themselves ( this is where they thrive)
778k - total cost

Sold - 898k


That’s awesome, @RealEstatebull!!!

This kind of tight margin are only for the real pros. Do they have their own crew?

There are still lots of homes selling for 350 or low 400s in South Oakland near San Leandro. How long is it gonna last? Forever? Or will we see gentrification rearing its beautiful head?

People who used to sneer at East Palo Alto (including me sadly) now regret it bigly. Bay Area is like a giant pressure cooker. Supply in the prime area will never catch up to demand. Only way it can cope is expand. Will we see S. Oakland catch its big break? That can make (or break) many fortunes.