Thanks dragon. Just sharing some personally points of views.
Agreed on 4 bedrooms too. “LUCK” plays a huge factor too
You def know your stuff. In the market or just like RE porn???
Take a guess
Gosh, it could go either way. I can see you as an investor type or someone looking to buy for himself. We have all types here.
Maybe $250k. So ended up with $250k profit which is not bad.
I would say 250k would be on the really low end plus hard to hit the 2.0 mark AND factor in holding cost too.
Agreed, but the thing is or was, the investor made it happen on another property nearby (bought not cheaply and flipped close to 1.9M I heard) and I guess he thinks he can strike lightning twice…I hope he does it. I was also told that he can’t have his workers sitting on the sidelines. So some profit is still better than idling… I know, crazy…
Actually $250k might be high if no major rearranging is needed. Holding cost can be eliminated if purchased with cash and deep pocketed flippers have that.
I see. If you have to assess, and it’s just a guess how much do you think " cost" was for the 16th Ave, 33rd Ave and the ulloa one ?
250k, 350k, 350k
If you are working as the general contractor, what’s your per hour cost? What’s the profit for investor and the profit for general contractor?
If I want to flip a house by hiring general contractor, my profit could be very slim.
Ulloa would be the lowest cost for sure by far.
That’s the one sold for $2.1M right? I gave them benefit of the doubt because it got sold for so high.
No this one
To me it’s less than 200k bad flip but KILLER profit
200k sounds quite low. The flipper might have to help out with the labor in order to accomplish that.
Sunset has been appreciating faster than Bernal, but I still think you get more for your money in the Sunset than in Bernal. If that appreciation difference continues that won’t be the case for long now.
Non-Asian recent Sunset buyer here.
Let’s compare “Asian” neighborhoods with “white” neighborhoods:
Sales stats (last 3 months):
Outer Sunset: $1.173M
Inner Sunset: $1.660M
Bernal Heights: $1.380M
Noe Valley: $1.900M
Asians are more concentrated in the middle. Whites have more extremes (they are either very rich or very poor… )