Or dig deep, real deep into ground and live like gophers.
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Or maybe itās too late. 4M for 1400/6630. It was the best value.
https://www.redfin.com/CA/Palo-Alto/205-Walter-Hays-Dr-94303/home/1130460
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$1M overvalued.
Ya walter hays we have seen and liked a lot. Just too expensive.
Looks like still hasnāt sold. No surprise. No price reduction either! They standing their ground.
https://www.redfin.com/CA/Santa-Clara/2205-Denise-Dr-95050/home/1104958
The buy price is 1.3 +1m construction =2.3 so i am not sure how much lower it should go. Maybe 2.6?
If they actually spent that much on construction cost then theyāre terrible flippers, unless someone bought to live there and ended up having a life changing circumstance and had to move in a rush.
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Whatās the construction cost of a brand new house, 3ksqft.
The lot size is only 6000. Too small.
Iām sure the other experienced builders in this forum can chime in like @Elt1 and @ptiemann.
I know a total demo and rebuild is less costly per square foot often times than a reno. For a traditional style house (ie. not uber modern with all fancy windows) and this being a new construction (flip?) you would hope they are pros and are getting it done for way less, like $150-200/sq ft. Larger the house the cheaper the sq ft price a lot of times, more sq footage to even out the expensive square footages like bathroom, kitchen.
I just took a glance at the permit records. It wasnāt a new construction. It was a 1300 sq ft 2nd story addition to the existing 1900 sq ft structure.
So what would be your guess on the money spent on this flip?
I really donāt know BA costs any moreā¦But soft costs are brutalā¦$100k just in fees and permitsā¦probably $300/sf including contractor profit just for hard costsā¦Nobody works for cheap.My old partner makes $600k contractor fee per house building high end 5000sf housesā¦thats $1.2m per yearā¦I retired to soonā¦
@Elt1 Yea haha, I know right. But you get to enjoy Tahoe and low stress life now and work whenever you want 
@intangible - If they are pros and didnāt shoot themselves in the foot with the budget, my personal guess is in the 600k range. Iām no expert though, but I have a friend that does high end rebuilds in PA and we were considering doing a new build flip at some point and he said he could get cost down to that range for a 3k sq ft. These are VERY low compared to normal channels bidding out projects to GCs. Labor cost is your biggest enemy here. So much cheaper in other parts of the country. You have to go into this with a contractor partner if you arenāt the contractor yourself.
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Come back! and bring traditional beauties to the market!
I saw my old partner, this weekend.He is ten years younger than meā¦Looks like shit, both knees need replacementā¦His wife wants to move up hereā¦ He is hooked on making big moneyā¦Keeps building and investingā¦Well at least his wife will be a happy widow and his daughter will be well provided forā¦
This is the last house we worked onā¦My involvement was minorā¦He did a great jobā¦Built a $12m spec home in Los Altos Hills after this one.
https://www.redfin.com/CA/Emerald-Hills/35-Agua-Vista-Ct-94062/home/50275643
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This looks like a great work, except the cabinets etc in the bathroom, and shelves in the other 
I like large windows - have hard problem with most bay area homes with small ones 
Maybe i should drop my software engineering job, and crypto and do this full timeā¦
Here is a contemporary builder that I used to do the structural engineeringā¦Bizzare shitā¦the kind of work Manch likesā¦
I just got cancer. At least not as bad as this:
Itās interesting that these properties have buyers. Probably the kind which likes to brag about having a unique property.
The Flintstone house was almost condemned back in the 80sā¦Leaks everywhere, mushrooms growing in the house.
They saved it by spraying urethane foam on the roof gutting it and remodelling the interiorā¦should have dozed itā¦