Old people sell, new people coming in buy. Been going on since the Gold Rush. The old shacks will be torn down. Ask Cloud… He has been doing well turning shacks into $4m spec homes. It would be nice to see cities making the process more affordable, but don’t hold your breath. I bought teardowns in Berkeley 45 years ago. Nothing new.
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This orange county but give you idea .
I am just not that type of investors. It takes somebody who has the patience to deal with all the drama and BS. I just don’t have that in me.
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where’s your rental for selling? just 1?
There is really not much of drama n BS. Rent increases are slow for long term tenants but eventually they leave or die n it gets reset. It’s not a big deal for tenants who move out after few years. On average in multi family less than 20% units are below market due to some stubborn tenant at any given time.
More than one is all I can say.
sf?
I am just worried rent control will get worse in the years to come. There is also the potential 1031 may be axed that may lower the appeal of real estate as an asset class.
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Not yet. Later.
Biden will get rid of 1031.
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I heard something along that line. I won’t hold grudges against him for getting rid of it though, if he does. There is no reason why some asset classes get special treatment. Just roll with the punches. New time calls for new strategies.
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Absolutely. It should be level playing field for all.
Prop 13 is another unfair one that must be repealed.
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This Millbrae house went pending in 4 days.
https://www.redfin.com/CA/Millbrae/531-Taylor-Blvd-94030/home/1875051
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San Carlos townhouse pending in 11 days.
https://www.redfin.com/CA/San-Carlos/4-Bellflower-Ln-94070/home/1805208
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You see this home , how fast it goes !
https://www.redfin.com/CA/San-Jose/449-Coe-Ave-95125/home/712728
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No, didn’t monitor that area. Good looking house!
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Joe Biden recently announced he would seek the end of 1031 “like-kind” exchanges for investors whose annual income exceeds $400,000. While efforts to end 1031 exchanges have been made before, real estate investors get nervous every time the issue surfaces.
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Joining the 4 days pending list:
https://www.redfin.com/CA/Fremont/34544-Salinas-Pl-94555/home/1599163
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This house and street looks great!
Barbara Corcoran: ‘The housing market is exploding well beyond what’s being reported’
except for SF and NYC. Can buy houses at 30% discount in SF and NYC.
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