New to Real Estate · Orlando, FL · Member since 2017 · 59 posts · 11 votes
I just stumbled upon this article.
http://www.sfchronicle.com/bayarea/matier-ross/article/Rich-SF-residents-get-a-shock-Someone-bought-11738236.php
It caught me by surprise that you can buy a private street instead of a physical property??
Can someone help explain how that's possible and how this works??
Thanks!
Investor · Riverside, CA · Member since 2011 · 2k+ posts · 3k+ votes
9y
He is going to try to fight 35 well off people. Not a fight I'd want to take on just to make some pocket change on parking. They'll probably drown him in legal battles.
Severna Park, MD · Member since 2013 · 7k+ posts · 7k+ votes
9y
I would set up a toll booth . Or since its such a nice street , rent spacer to people who live in RV's . The residents will eventually buy it from them for a hefty profit .
Walnut Creek, CA · Member since 2015 · 3k+ posts · 2k+ votes
9y
It's a private street that didn't pay the property tax for something like 30 years... but in reality the dude is going to fight people who are very well connected and can easily outspend him in court. I'd be curious to see what all he is responsible for as a landlord of that street... because things in a street get expensive quick.