All Forum Posts by: Manch Hon

There you go

http://realestateguysradio.com/

It's their signature phrase. They are based in San Jose.

Real Estate Guys fan? :)

@Amit M. Rent control doesn't scare me, but having a tenant you can't get rid of scares the jesus out of me... How do I buy and hold in SF without getting a lifetime tenant I can't rid of?

I think he meant he will net $109K from the sale, with the mortgage note paid off and selling costs deducted.

Earlier he said he owed 49K, and he bought it for 72K. So that means he put in 23K (or less because he had already paid down some principal). Add the $15K rehab cost and we have $38K.

So profit should be 109 - 38 = 71K.

This is a better (read: local) article about the proposed "flip" tax.

http://www.sfgate.com/politics/article/Tax-to-brake-S-F-real-estate-speculation-headed-5558857.php

It only affects small, rent-controlled multi-family buildings. Most flippers, myself included, only tackle SFH, condos or townhouses. I don't think this will affect that many people.

@J. Martin Yeah, my contractor also mentioned he can "fill in" the gaps in the floor. I did not know such a trick. Haha. I am complete rehab noob. It knocks a couple thousands off my rehab costs.

Good tips on the remodeling. The hardwood floor in my SF flip is pretty beat up. My contractor said we can sand and polish it to make it look like new. Looking at your pictures I think maybe he's right...

You should have no problem at all getting your units rented. Head and shoulders above your competition in the area....

I am starting to get the BV religion. If Candlestick development goes well, together with the shipyard it will completely transform BV....

@Amit M. My SF house is a flip. I don't dare landlord in SF with all the rent control and landlord hostile regulations. I was excited about the AirBnB route because it will allow me to landlord without really being a landlord, but that looks to be in questionable water now. So I really don't know how to do buy and hold in SF. I'd welcome any idea though.

What do folks think of the area around candlestick? What are they going to do with the ballpark? I saw some new development last year.