Home Buying & Real Estate Thread

[SneakerProSr.]

My neighbor just put his house up for sale. Its a 4 month old house and dude got a new job, if he sells it for what he's asking he going to profit 30K for living in this house for 4 months.

If he gets his asking price I'm think I'm moving

 

[al audi]

My neighbor just put his house up for sale. Its a 4 month old house and dude got a new job, if he sells it for what he's asking he going to profit 30K for living in this house for 4 months.

If he gets his asking price I'm think I'm moving

that is an awesome come up.........he prob will get it too.....

 

[SneakerProSr.]

My neighbor just put his house up for sale. Its a 4 month old house and dude got a new job, if he sells it for what he's asking he going to profit 30K for living in this house for 4 months.

If he gets his asking price I'm think I'm moving

that is an awesome come up.........he prob will get it too.....

Yeah I don't see him listing it at that price unless his agent thinks they can get close to it then again you can still build a brand new house in our subdivision for about what he's asking so I don't know.

 

[stork]

My neighbor just put his house up for sale. Its a 4 month old house and dude got a new job, if he sells it for what he's asking he going to profit 30K for living in this house for 4 months.

If he gets his asking price I'm think I'm moving

I doubt he'll get 30k worth of appreciation in 4 months, that's way to high, unless he bought home for below market value.

thing to remember if TX is like CA ,the seller pays 8-9% in comission fees, escrow, taxes, possible loan penalties etc..

let us know what happens, sounds interesting.

 

[ekrev98]

im scared to ask what you asking for that ekRev

$839k

Flip came out super nice. Congrats on that. And the open house sounds like a good time. Wish you positive vibes for the sale...

Thank you!

@ekREV98 do you focus on high end flips?? And do flip only in CA?? That house def looks pricey especially if its SD im sure the list price is >1mil Sorry if someone already asked you.

With this particular property we had to do high end finishes due to the neighborhood. So each project is different but we specialize in adding higher end materials to add top value to the property. When doing a project, I always ask myself if this is something I would want in my own home? I'm a stickler when it comes to details

Asking $839k when other homes in the area are going for $900k+
I mainly do San Diego, CA.

My next project will be half the price of this one. It's a good starter home and will be move in ready for a couple or family. Finally closed escrow on it today and will start demo this Monday. I'll be posting pics of the progress.

Also If you dont mind me asking what are your margins typically on a flip like this one.

It varies. Once I sell this property I can DM you and go into better detail. But the previous property I did. Purchase price was $380k and sold it for a record price in the neighborhood for $785k. Remodel cost was well below $200k.

 

[al audi]

It varies. Once I sell this property I can DM you and go into better detail. But the previous property I did. Purchase price was $380k and sold it for a record price in the neighborhood for $785k. Remodel cost was well below $200k.

damn.......

this was my first thought......

 

[i2endmc]

^christina can get it.

 

[smokey13]

yo not to get in anyones business......

but all the NTrs from San Fran or LA make 80k+ an if they don't they must have roommates..........right?

this legit has been a question of mine for a long time, i don't get how ppl live out there an are a part of Niketalk lol.......good for them they are the % who is doing well clearly


if i was from that area i would be at the bottom.

my hustle game would be no joke......not joking

People in the Bay who make $80k+ have roommates. If you want to live alone, you're looking anywhere from $2300-2800 for a studio. A lot of Millenials will share a 3 bd which runs $5-6k.

$600K will maybe get you a 2/1 1200sq ft fixer. You would need to redo the whole house(prob another $100-150K). And that's in an "up and coming neighborhood". A friend of mine just sold her place that's maybe a half mile from Golden Gate Park. It was maybe a 2/2 1300 sq ft. She was asking $1.49 and it sold for $1.8.

 

[luckyluchiano]

People in the Bay who make $80k+ have roommates. If you want to live alone, you're looking anywhere from $2300-2800 for a studio. A lot of Millenials will share a 3 bd which runs $5-6k.

$600K will maybe get you a 2/1 1200sq ft fixer. You would need to redo the whole house(prob another $100-150K). And that's in an "up and coming neighborhood". A friend of mine just sold her place that's maybe a half mile from Golden Gate Park. It was maybe a 2/2 1300 sq ft. She was asking $1.49 and it sold for $1.8.

Isnt it true LA isnt as bad as The Bay though? Like for example im in ATL and Chicago is actually about the same give or take maybe a 5-7% premium compared to the cost kf living in ATL. But SF and Manhattan are likke 40% higher than ATL, and i looked at numbers for LA and outside of Affluent areas it didnt seem as OD as SF or Manhattan.

 

[pdino]

Isnt it true LA isnt as bad as The Bay though? Like for example im in ATL and Chicago is actually about the same give or take maybe a 5-7% premium compared to the cost kf living in ATL. But SF and Manhattan are likke 40% higher than ATL, and i looked at numbers for LA and outside of Affluent areas it didnt seem as OD as SF or Manhattan.

Yeah, LA isn't as bad. Rent around here is like 1.5-2k, if you go into ghetto areas you can get cheaper. House prices are  not as OD as SF, it's out of control there..

 

[bigpat630]

I rent in LA. I'm looking to buy a condo/town home in the 180-200k range. That's for a 1+1.

 

[smokey13]

Isnt it true LA isnt as bad as The Bay though? Like for example im in ATL and Chicago is actually about the same give or take maybe a 5-7% premium compared to the cost kf living in ATL. But SF and Manhattan are likke 40% higher than ATL, and i looked at numbers for LA and outside of Affluent areas it didnt seem as OD as SF or Manhattan.[/quote]

I'm not familiar with the LA market so maybe someone more familiar with both markets can answer. But If you want a condo IN the city. It's prob going to be $1M.

 

[antbanks81]

Got the professional pics back of my Del Cerro project. Anybody in SD who wants to come
by my open house tomorrow, DM me. Food,wine, and beer will be served!

JOB WELL DONE!

How did your open house go?

 

[ybyb20]

$839k


Thank you!
With this particular property we had to do high end finishes due to the neighborhood. So each project is different but we specialize in adding higher end materials to add top value to the property. When doing a project, I always ask myself if this is something I would want in my own home? I'm a stickler when it comes to details

Asking $839k when other homes in the area are going for $900k+
I mainly do San Diego, CA.

My next project will be half the price of this one. It's a good starter home and will be move in ready for a couple or family. Finally closed escrow on it today and will start demo this Monday. I'll be posting pics of the progress.


It varies. Once I sell this property I can DM you and go into better detail. But the previous property I did. Purchase price was $380k and sold it for a record price in the neighborhood for $785k. Remodel cost was well below $200k.

Definitely please dm me once it gets sold and keep me posted. Much respect man it sounds like you positioned yourself to make a healthy profit. Also, is it cool if dm you a few questions about flipping you seem pretty knowledgable??

 

[ekrev98]

JOB WELL DONE!

How did your open house go?

Thank you! Open house went very well. Got a lot of traffic with positive feedback. The food and wine/beer helped I'm sure. Lol. Now it's just the matter of getting a offer.

 

[ekrev98]

Definitely please dm me once it gets sold and keep me posted. Much respect man it sounds like you positioned yourself to make a healthy profit. Also, is it cool if dm you a few questions about flipping you seem pretty knowledgable??

For sure. DM me anytime you have any questions.

 

[antbanks81]

Yeh the free food and drinks always help. I can't wait to get my first one done this year.

 

[ybyb20]

Awesome will do.

 

[utvol23]

Thank you! Open house went very well. Got a lot of traffic with positive feedback. The food and wine/beer helped I'm sure. Lol. Now it's just the matter of getting a offer.

What you didnt get one or two full price offers on day one like they do on all the shows?

Well done on the home!

 

[polosanddunks]

Anyone in here in the Houston, TX area or purchased a home recently in the city? I am looking to get around to purchasing a townhouse for myself and need some help.

 

[ekrev98]

What you didnt get one or two full price offers on day one like they do on all the shows?

Well done on the home!

Hahaha ain't that the truth. Those shows crack me up.

 

[girlslovewaffles]

Anyone here develop commercial property?

Have some questions... would like to PM if possible. Thanks!

 

[eugenile gts]

yo not to get in anyones business......

but all the NTrs from San Fran or LA make 80k+ an if they don't they must have roommates..........right?

this legit has been a question of mine for a long time, i don't get how ppl live out there an are a part of Niketalk lol.......good for them they are the % who is doing well clearly


if i was from that area i would be at the bottom.

my hustle game would be no joke......not joking

bruh, i can tell you even those making $100K a year whether it be single income or dual income combine. most likely don't have their own house and likely renting, and high possibility with roomates.

i can tell you that, of course i dont want to speak for everybody, but MANY who i know or come across who are into shoes, the hype stuff, flossing the usual crap. chances are they still live with their parents, paying little rent just so they dont seem like scrubs still living at home in their late 20s and in their 30s. or they aint paying rent at all still living at home thus have a lot of extra income to splurge.

its the sad truth, a lot of friends i know, with jobs, even with Bachelor degrees, still live at home with their parents. yea some of them can afford to move out, but rent is $2500-3000 for a 2-3 bedroom apartment in a nice area. you might be able to rent a ghetto house in a bad area for that same price. then you have to factor in internet, cable, utilities, car payments , etc, then this expensive hobbies of shoes, you know there is something up if they can still floss on IG . like i said for the most part, its because a lot still live at home, dont pay rent, or very little to contribute staying at home.

the Bay Area, not just SF man, is crazier than LA imo. Streets are crowded because like i said, multiple generations still live at home. or each room is being rented out.

http://www.zillow.com/homes/for_ren...29,37.69849,-122.669049_rect/11_zm/?3col=true

http://www.zillow.com/homes/for_ren...,-121.371117,37.06641,-122.263756_rect/10_zm/

 

[al audi]

repped


legit blows my mind how we got dudes out there balling out, lol no lie when i got on IG and saw all the CA NTrs I'm like.........:x


what is the secret??? but then again.................i know ppl who sell drugs too. so makes sense either drugs or family fortune.

in my head CA is more expensive than the Tri State area by far

 

[polosanddunks]

repped


legit blows my mind how we got dudes out there balling out, lol no lie when i got on IG and saw all the CA NTrs I'm like.........:x


what is the secret??? but then again.................i know ppl who sell drugs too. so makes sense either drugs or family fortune.

in my head CA is more expensive than the Tri State area by far

Its a lot of dudes "balling" legitimately nowadays without family money and drugs. At the same time its a lot of frauds and facades out there as well. You already know...