Milpitas Rocking the Overbids!

Saratoga primary
Several Milpitas SFHs
Multi Unit Apartment Building In peninsula (purposely not saying where) but bought with all cash after fleeing the Fab 7x7 with a fist full of dollars. Now, I honestly think he regrets the move, now seeing how Fabulous the Fab 7x7 can be… How I know? He is looking to buy…where?..in the Fab 7x7 amongst other places down in SV…

Tons of stocks, like you guys and gals…

Apparently still a top engineer fending off the millennials and a fellow grad from your alma mater, @wuqijun. And no @manch, he does not work for that company you guessed at before…

I seem to recall some sort of US patent plaque on a dusty bookshelf once in his home…

Maybe I can convince him to waste some time on here, but he is old school. He would rather snake out a sewer lateral himself than BS with you guys on the merits of XYZ stock in the short term. He is the type that gets antsy if there is nothing to do. He does not enjoy vacations, at least before…

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Saratoga primary = 2.5M
Milpitas, I would assume several being 3 x1.25M = 3.75M
Multi-family = 2.5M

Total: 8.75M of assets in real estate.

Did I do that right?

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Doesn’t mean to break your heart… sorry. Maybe it’s just that I didn’t pay so much attention to SF before? By “weird dynamics” I mean the dysfunctional politics in city hall. SF has a HUGE budget. If I remember right it’s over 10B. B for Billion. For a city with just 800K people. And yet with this wealth it can’t ever keep its streets free of feces and needles.

I’d much prefer South Bay. I feel like they are my kind of people: highly educated engineering types. Yeah, I am a snob. I like being around other educated people. I don’t like being around homeless.

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You’re right about the homeless problem. At one point I wondered what the tech money is doing to solve this right in their backyard. Apparently not that much, according to my quick research. Google is doing “some” outreach programs, but not nearly something to speak of. This makes me mad to no enr, but that’s a topic for some other day :slight_smile:

I actually enjoy the diversity in SF. In San Jose, all I ever saw was techies, and so it felt like endless rat wheels. Always competing with each other and no time to enjoy life. At least in SF, I’m making small talks with people that work in my building, convenience stores, coffee shops, and even cashiers at Target. In San Jose, I don’t think I ever heard back from the realtor we bought our first place from. Silicon Valley I know isn’t as scrappy and collegial the media makes it out to be - maybe I hung around with too many Asians…

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We are here for the long haul. But our approach is a little different from the majority of the forum. We have been primarily buying multi-fam for the cashflow. The only SF we have is our current and previous primary. However, I think I am done buying RE. Wifey wants to continue buying but I don’t have the appetite to keep adding debt load. I am trying to keep a good chunk of our assets liquid and start paying off our leverage. Plus (maybe I am too conservative), I can’t understand how sustainable our current prices are (in the short to medium term).

Neighborhoods we believe have a lot of potential in them - North San Jose, San Jose, Sunnyvale, East Palo Alto, Newark

Very long term, we plan to 1031 exchange our smaller multifam purchases to a single larger property that is professionally managed (our current vague retirement plan). But short-term I think we are done buying.

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I think i want to meet your big bro :slight_smile:

Not sure that Saratoga is only at 2.5M. It is completely remodeled. Milipitas homes are all decent sized, at least 4 bedrooms on the one he bought brand new back in the day for under 200K. Multii unit is probably worth more than that easily. It is a desirable city. The beauty is that most if not all of the RE are paid off. Stocks from company shares and investments are probably 10M+ if his estimated net worth awhile ago is +20M. Kids are going to inherit a fortune, when you also consider our family property. Yet, if you saw the dude, you would have thought he was poor. That is why I tell every salesperson, never, ever, go by physical appearance alone. You will be wrong, 9/10 times…

Saratoga primary = 3M
Milpitas, I would assume several being 3 x1.5M = 4.5M
Multi-family = 3M

Total: 10.5M of assets in real estate.

Looks better?

I will ask him at our next soiree…:grinning:

why do you care about what he owns…

I don’t…my fellow Sunseter @wuqijun apparently has a need to see where he stands amongst his Cal peers when it comes to net worth. Big Bro has done well, extremely well in his life… and it was written in the numbers again by his birthdate…very lucky numbers. Even my wife said no wonder he is rich…

Why not? It’s a good accounting exercise. :wink:

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Big Bro understands the role that cash flow plays and of course he is able to cut his costs dramatically since he likes to get his hands dirty…

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Thought is an external stimulant to improve performance :grin: A little competition goes a long way.

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Yes that too :slight_smile:

Come on, enough to go around???

Thanks for listing me as a guru. I’m a small time investor, not like some of the big shots and active flippers here.

Here is my take. I’m sure there will be some small correction coming up, but then prices will continue to grow. So if someone is investing in the long term, just try to get into the market and not time the market.

As for location, I believe in currently highly desired locations are best, and not guess on next upcoming neighborhood. I know, currently desired locations are already super expensive. But trying to guess next upcoming neighborhood correctly is slim. If I have to pick, I’d say buy in peninsula (Redwood City, East Menlo Park) or south bay that is centrally located (like Santa Clara), vs further away like east bay.

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Heh another record setter for the area. We started this thread with hitting 1M in Nov '17, but it is 1.3M now.

https://www.redfin.com/CA/Milpitas/200-Casper-St-95035/home/1071585

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Wow.

This top agent debbie rosetto should badly upgrade her staging. looks so dated with roosters in kitchen etc. Yucckkk!! She still gets top dollars though and never represents any open houses, her open house agents offer no info as well, they do not know what schools, disclosures etc.

Yea, but she is really good at negotiation (for seller). Her staging has been exactly the same all the houses :slight_smile: