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San Francisco Niketalkers, is this really how you guys are living?
- Thread in 'General' Thread starter Started by Proposition Joe,
- Start date
heatpinoyboy
Supporter
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damn 30k a year for private school. That's wild. Maybe my expectations are low but im def putting my kids through public school like my parents did me lol. If i had to eat galaxy pizza every day so do my kids
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Marketing is always the last thing tech thinks of and then hires friends they know or kids straight out of b school.
We basically hired Marketing by looking where they went to school.
We basically hired Marketing by looking where they went to school.
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We look at Maxwell Park a lot but man, that area has already been exploited and getting in prices that just don't make sense. Plus he school systems aren't great and I feel we'd move in the long run anyways. I saw that place you listed and yeah, I don't get how a 2 bedroom goes for those prices. My wife and I are actually have some issues with a condo we bought where our appraisal is coming up short of what we offered and we might back out. Is this normal with appraisals in the Bay Area? I can't imagine someone spending $900k for a 2 bedroom in Oakland and getting a loan for that price. I assume they pay the rest in cash?
I am sure this has been asked a million times over but does anyone for see a crash in market anytime soon? I hate buying at this peak of the market knowing that anything can happen.
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Everything has a bubble. I wish I have a crystal ball to tell you when.
lightweight champion
Banned
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I didn’t think it could happen because of the regulations Obama set during his tenure. But Drumpf rolled those back so it’s entirely possible for it to happen again. It really depends if financial institutions want to go that route of not verifying income again.
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I’ve heard so many CEOs say it is a bubble but when are you going to stop using technology in your life?
Only thing I see happening soon is tech moving to other locations more and more.
Only thing I see happening soon is tech moving to other locations more and more.
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Maybe a natural disaster? God forbid.
Or the economy as a whole turning upside down.
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The economy enables what tech does. Did you see Zuck at Congress?
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No didn't bother. I knew many moons ago that there is no such thing as privacy in this day and age.
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That’s exactly what happened to us. We outgrew our place in MP(2/1) in 2 years. Decided to move back to this side of the bay and settled in Daly City/Top of the hill Mission. Had to buy another 2/1 with an unfinished basement because that’s all we could afford with our budget. Thought we had a few years before we needed to do it but WRONG. Wife was going crazy with only 1 bathroom and we were having baby #3 so instead of doing the renovation we decided to move again.
Our place in Candlestick is a 4/3 1800sq ft and I don’t think we’re moving for a long time.
I think a lot of people end up putting more down when the house doesn’t appraise cause they don’t want to lose it. Or they pay all cash and don’t care about appraisals
How big of a place are you looking for? Would you consider living at The Shipyard? Or Original Daly City?
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Yeah, if every marketers dream is to be able to target 1:1, how do the consumers think this is happening lmao?
Anyone who posts anything they wouldn’t tell or share with a stranger is an idiot.
Anyone who posts anything they wouldn’t tell or share with a stranger is an idiot.
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I think you've mentioned that you were in finance before, right? FP&A and accounting work are always in high demand in tech startups. A lot of these startups are founded by people who have no idea how important the details are, and they always say things like "we'll deal with it later". 2-3 years later, they go to banks/investors for additional loans/funding, and they hire accountants (like me)/financial analysts to prepare their financial statements and update their budgets before they can get additional funds. That's when they realize how @#$@$ up their books have been
I've been in a high transaction volume startup where their bank balance was off by FIFTEEN MILLION dollars. I spent 6 months just going through their bank statements from 2014-2017 and tracking down each expense
Another startup had a controller who was booking estimates for their inventory count/value, and when I got there, I spent 4 months cleaning that up because an auditor from the bank could not match the warehouse count to oru statements.... Sometimes I look at the officers of these companies like "How the hell did you get to where you are now if this is your quality of work?"
The financials of these companies are always in chaos, so if you're willing to put up with that environment and have some experience, you should easily find work.
i remember doing some temp work for a tech company. they would be paying their invoices with credit cards and proceed to pay the same thing twice with a check and all that nonsense
i dont even think some of them had proper accounting depts or had anyone handle it when they started their business
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i remember doing some temp work for a tech company. they would be paying their invoices with credit cards and proceed to pay the same thing twice with a check and all that nonsense
Definitely have seen this a lot too
Accounting at a tech startup involves putting out other people's fires damn near every day, but this incompetence and lack of discipline is also why there's so many job opportunities in that field. Out of the 20-30 startups I've worked with or at over the past 5 years, I'd say maybe ONE had their @#$@ together. It's very obvious why most startups end up failing.
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That’s exactly what happened to us. We outgrew our place in MP(2/1) in 2 years. Decided to move back to this side of the bay and settled in Daly City/Top of the hill Mission. Had to buy another 2/1 with an unfinished basement because that’s all we could afford with our budget. Thought we had a few years before we needed to do it but WRONG. Wife was going crazy with only 1 bathroom and we were having baby #3 so instead of doing the renovation we decided to move again.
Our place in Candlestick is a 4/3 1800sq ft and I don’t think we’re moving for a long time.
I think a lot of people end up putting more down when the house doesn’t appraise cause they don’t want to lose it. Or they pay all cash and don’t care about appraisals
How big of a place are you looking for? Would you consider living at The Shipyard? Or Original Daly City?
Damn....that is a lot of moving. My wife is so concerned about recouping our money wherever we buy and in paper nothing makes sense unless you pay a home with straight cash. You will always lose money either from the interest on a loan or even HOA. I keep telling her I doubt people are buying right now to invest in real estate because we're at the peak of the market but honestly I wonder if things can get worse than it is, which is why buying real estate for those reasons are such a big gamble.
We are in escrow right now for a 800 square foot studio in Oakland. Our plan was to live there for like 3-5 years with one kid and then move again. We rent in SF with a studio half the size of that so we think we're living in a huge space but I know we will outgrow the studio fast as well. Realistically, we'd like a home at least over a 1000 sq ft with 3 bed and 2 bath. I saw those Hunter's Point condos but we just don't want an expensive place like that with HOA. The place we currently are getting has a pretty low HOA but the building isn't that great to look at.
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It was a lot of moving but well worth it since the market has been so hot. We finally decided that we’re going to sell our place in Maxwell Park. I think we will get 2.5x what we paid for it in a little under 6 years. We sold our Daly City house for a 30% profit in 3 years so real estate has been really good to us.
Any updates on the appraisal of the condo? Are you guys thinking about pulling out of the deal? I do want to ask why not try and get into a 3/2 now? Because if you sell the studio in 3-5 years you’re going to hit for at least $25k for RE agents commission.
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The global economy is in a bubble right now... since 2008 we have not fixed any of the problems. All we did was inflate the currency and used cheap money to prop up the stock market and the real estate market along with commerce and other facets of economics...
When the global debt is called up, you better have a little stash to cop your houses condos and real estate cuz it'll be dirt cheap when we reset...
When the global debt is called up, you better have a little stash to cop your houses condos and real estate cuz it'll be dirt cheap when we reset...
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Interesting, I am looking to break into Tech on the marketing/finance side after bschool.
Seattle might be the move though, if I am listening right in this thread.
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Although I completely agree with you, all the "zerohedge/wolfstreeters" like Crispin Odey, Peter Schiff, Kyle Bass, John Paulson have traded like the sky is falling since 2011. Now they have either shuttered or barely breaking even. Markets incl real estate have gone parabolic since '09 and will have to come down a bit but Globalist Leaders will forever prop up these Markets.
Late 2019 - 2020 is the consensus for Recession (JP Morgan Private Banc, US Trust Private Wealth)
Election Year
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^^^^I head that as well which I would totally kick myself for if my wife and I get this condo. I doubt we'll sell it in time if that happens.
Damn....talk about good timing with your properties.
We find out an answer today if we get the condo. My agent says the seller might go for our counter offer so we're being hopeful. If not, this is the last time we go for a studio/condo. We decided to buy small first cause it wouldn't kill us financially. We also have to buy a car, furniture and other assets which is something we never done in SF. So we're dropping a lot of money all at once and figure to start small.
We almost put a bid on this home. Had a $595k starting bid and sold for $855k. Insane.
https://www.redfin.com/CA/Oakland/5372-Brookdale-Ave-94619/home/1992772
Damn....talk about good timing with your properties.
We find out an answer today if we get the condo. My agent says the seller might go for our counter offer so we're being hopeful. If not, this is the last time we go for a studio/condo. We decided to buy small first cause it wouldn't kill us financially. We also have to buy a car, furniture and other assets which is something we never done in SF. So we're dropping a lot of money all at once and figure to start small.
We almost put a bid on this home. Had a $595k starting bid and sold for $855k. Insane.
https://www.redfin.com/CA/Oakland/5372-Brookdale-Ave-94619/home/1992772
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I'm saving like a mofo to secure some properly at discount when it does happen. Going to devise a plan this month and start off by cutting out the fat. Goodbye cable!
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I would personally never work at Amazon, but to each their own.
What school are you attending?
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Oh screw amazon! I’m with you on that pm’d.
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I think its a bubble because its happening nationwide. If it was just SF housing going up i would say its not a bubble but houses in AZ, Vegas, NY, sacramento, Chicago, LA, Boston, Etc are all going up.
There is a frenzy to buy homes especially by REITS and investors. People are also buying more expensive thinking it will keep going up. ARMs/adjustables are popular again and mad people in the house flip business again.
There is a frenzy to buy homes especially by REITS and investors. People are also buying more expensive thinking it will keep going up. ARMs/adjustables are popular again and mad people in the house flip business again.
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What is the purchase offer bid the seller accepted?
