Thanks @Terri for reminder 
this still didn’t sell, the seller still is sitting on some profit.
At the corner of Moude and N Sunnyvale?
Look at google street view. The first thing you can see is Gombei Bento and Latina.
I wouldn’t buy it even at 1M.
heheh. good point. you should probably buy at 1m though. that sounds like a steal.
5 min walk to KFC. Sold.
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New flooring, work in kitchen, new paint, some windows(?), work in bathroom (not full update though), New garage door, floor in Garage…
may be $50K-$60K.
Lets see how much it will sell in. The cost to flipper will be around 1.3M including selling and holding costs.
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Weird flip? or is it?
We discussed this one before in the forum when it was listed first. Its a back to back flip (the first flipper used the cross street address so you wont be able to see the full history).
Someone bought and realized that market is going down and that house and neighborhood lacks fundamentals. The neighborhood has worse school combination for Sunnyvale. House is right next to an elementary school.
Investor pitch for RE is going down. I see that change in the comments of forum members here too. From it can never go down, look at inventory numbers, to look at job numbers - it has now switched to - <2M is still hot, -1.5-2.5m is the range, it can’t go forever this way …
You and i are probably the reasonable voices here wrt asset prices
“From it can never go down, look at inventory numbers, to look at job numbers - it has now switched to - <2M is still hot, -1.5-2.5m is the range, it can’t go forever this way …”
Add another to this list: Look at the long term fundamentals… It’ll go up! No need to catch a 10% down when it’s bound to go up a lot in 20 years.
Anyway, I am happy with where i am. But where am i? We never know
Lol. I think @elt1 and I have advocated cash flow positive MFH as the sure, slow and steady way to accumulate RE. He has an added enhancement where he churns his primary every few years to take advantage of the tax free cap gains exclusion. I don’t buy for appreciation as it’s too risky for my investment appetite. Better to buy for cashflow. Of course we need to worry about rent control. But if the MFH is cash flow positive from day one, rent control can be managed.
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I doubt that in this market there are cash flow positive rental buys available. And if the job scenarios changes investor will quickly go into negative cash flow. It would be a double whammy as the investor bought at higher price which fetches a poor rental.
All in all its a riskier bet with not so great returns.
You put more down, to make it cash flow positive.
There are actually cashflow positive rentals, or there were up until 2 years ago in mtv.
There isn’t. Been watching the market for 6 months and can’t find anything. Have shelved it for now. We dont have the time to buy any more rentals and stuff is too frothy wrt to rent vs price. The interesting thing I noticed was that many of the potential places I had my eye on listed and sat on the market for many months and have now gone off market. If we actually had the time, I might have tried low balling them before they went off market. I guess people who bought low are not incentivized to sell and investors looking to buy now don’t want to overpay for MFH. I could not figure out how to make it work for MFH in the bay area at current listing prices
Every investors and homeowners know annualized price increase in SV is 6-8% barring depression or some fundamentals causing SV not attractive to techies and tech companies. No urgency to sell or no need to sell, can hold forever until those changes.
Isnt inventory going up?
crazy inventory today or is it just me?
Hey, old schoolers like me do at home…
I was joking gamers do. I would do too if i really cared.
From high flying 2.5 to 1.8M.
someone’s dreams are shattered…
the sellers