660K over purchase price in 3 months.
https://www.redfin.com/CA/San-Francisco/1447-Hudson-Ave-94124/home/748069
Open space is an absolute MUST for insane selling price.
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1 year 3 months, not 3 months. But still impressive.
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Ok. That takes much longer than I thought and much less impressive. Flipping is still not great. 
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You can only treat that as a hobby. It’s not going to get you to $25 million net worth for sure.
Don’t think I agree… If you’re flipping enough houses, you can do that with volume. But as I said elsewhere, the real flippers wipe the lot and rebuild. Sam Agnostiou has been doing that and looks like he’s winning big.
It’s the way to go bankrupt. Sorry to expose the risks.
I haven’t met a flipper who are really rich. All the rich people are buy and hold.
If you are the owner and founder of KB Home or other big builder, you become a billionaire. I haven’t met a buy and hold billionaire yet
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Sam is a realtor. Did he make big bucks from flipping?
PT in Santa Cruz is a flipper, doing fine.
He is not lazy, he moves around to make a buck.
Sam is a realtor not a builder. But he does represent some builders I know.
I made plenty building spec homes. But it is tough to find the right tear downs.
The big time guys like Pacific Peninsula homes have $100m hedge fund money.
It is all about financing
How do you build your business? Most of you are advocating buy and hold but that requires a lot of capital. How many houses are you buying a year? One every couple of years?
What’s your game plan? Buy, update and rent high, wait for appreciation, take equity out, and buy another? Rise and repeat?
Easiest way is to buy a primary, then rent it out and buy a new primary. Keep doing it as often as you can.
Are you sure about that? The last place I saw it sounded like he’d done the rebuild. Also, I think he’d rebuilt a house that a friend was renting from him. He presumably owned that one.
Rich people buy and hold properties for entertaining guests.
Only if you’re successful in building a big business.
One of my in-law is a small time developer, don’t seem to be that rich.
Flipping is like trading stocks. Traders don’t last long, they can lose big time occasionally or frequently.
Buy and hold is a low risk strategy, but you won’t get to billionaire status. You can be able to get to 10M over years. But you will have a lot of time to try other business ventures including being a contractor to build houses for flippers.
Many flippers made a lot of money, but mostly from market appreciation, not from value add. I’m worried whether they will lose their profit to market downturns
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Please show some evidences if this is not your situation 
$1.5M for a bad house number in Bayview. Buyer must be insane.
wqj and others such as yourself 
Or lack of vision?
How about this one up the street?
https://www.redfin.com/CA/San-Francisco/1411-Hudson-Ave-94124/unit-V/home/25657805
Didn’t realize there are so many suckers around. Time to sell your primary and move to Cupertino Screamer-in-Chief.
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