Hillview RWC

Calling @Terri. This would be ideal to cut your teeth on.

Great comps exclude Nevada and to the east. I expect it to be bid up quite a bit until no profit remains on paper.

This is an 8 minutes bike ride to redwood city caltrain and it is flat. It is next to Alameda. And one block from Edgewood road, which is a easy hop on 280. The street looks very clean. Lots of things going for this place

Wow! Some of the worst photos ever…Look like the ones inspectors use to show all the flaws…Needs a $200k redo…

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I took a closer look at the pictures and it might be more than a straight forward remodel. Looks like a possible moisture/mildew issue in a few rooms. If it’s a legit contractor special it might go for an attractive price.

Originally, I thought this was a good size for a family with a 3/2 configuration. I thought it was just tired versus failing components.

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Yeah… Saw that. I expect it to go over at $1.2M or have significant mold or foundation issues. Nice neighborhood. Probably will flip at $1.6M

Something like that. At that price you are better off paying 200k more for a 9100 sf lot to the east. Like I mentioned profits squeezed.

I think someone will do well off flipping this one. RWC is pretty hot, and most flips–even ones I think should do badly–have done well.

Unfortunately, i don’t have the ability to jump into RWC right now money-wise, especially not to flip since that would require extra $$. :frowning:

Also watching this one–i don’t know that it’ll be a flip or if someone will live in it and improve. I think once you get rid of the hoard (literally–this was a hoarders house–I’ve never seen anything like it in person, but the floors were covered with newly bought, never used stuff still in bags), it’ll be possible to live in it and work on it. Paint and replace carpets on the way in and then do the bathrooms as you can:

Just some mental exercise.

1.2 purchase
0.2 in improvements
0.05 in random holding costs
0.08 in selling costs

1.53 in total costs
1.6 sale

70k on 1,450,000 - not worth the risk. Chance of losing money isn’t high, but the chance of extra costs and hiccups is. If you count on a rising market then you are in an entirely different business. It’s better to hold it long term.

Popular neighborhood…Schools?? Probably thin for a flip…Most flippers get inside deals…Fully exposed it will sell too high for a decent flip profit…If in the city not county, could teardown and put in 3000sf and sell for $2.8m. …As far as I know Oak Knoll Manor is Roosevelt elementary and county zoning. …Would be worth $500k more in the city…Max build in county 2400sf

Yup, with those numbers I’d rather be a hard money lender.

I don’t think anyone has proven that this type of location can hit 2.8m. North of Whipple or East of Nevada, can and then some. I think this location tops out at 2.5m. Then again the Rossi Lane development hitting 3m was a surprise too.

No kidding… Wow.

Odd, contingent deal after 3 days. Doubtful someone blowing it out of the water would show up with a contingent offer.

Double ended? Maybe around list.

1.375, whoa.

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If it’s a fixer, they probably hadn’t done inspections.

I’m waiting to see if it’s an owner occupied or what. I doubt it’s one of the more experienced investors. Maybe they used the more expensive comps from the wide lots east of Hillview. Or this was just a tired rancher without the big flaws. Or the market jumped more than I realized.

Just reviewed the newest sales and I guess this is just the new market. Woodside Plaza proper is over 1.3-1.4 just to enter.