Newer Irvine listings with crazy WTF asking prices from equity sellers

[usctrojancpa]

Agree. Pointless on asking prices.

Okay, I give you real world example then.

114 Baja. Piedmont in EW.

Originally bought for $1,084,000 in 9/13/2017. Re-Sold for $1,210,000 in 2/26/2018. $126,000 appreciation in 5 months. Wowzers.
https://www.realtor.com/realestateandhomes-detail/114-Baja_Irvine_CA_92620_M11996-92598

126,000
-72,000 (realtor commission)
-30,000 (backyard landscaping)
  -4,000 closing costs


  20k appreciation you mean?

That listing paid 2.25% to selling agent so I'm going to guess 4.5% total. Only $54,450 in commission!

And no, appreciation and net profit from sale are different things. You only compare gross purchase and sale price to calculation appreciation.

Yea numbers look rich. They prob got some Chinese landscaper in there for cheap. But also have to factor in carry costs and taxes.

Plus closing costs on the buy side unless they got a max rebate.  haha

Still, they probably made around $50k-$60k when the dust settled.

 

[Burn That Belly]

x

 

[Cares]

5% growth for a 5 month investment. Not too shabby. Beats S&P500.

 

[Burn That Belly]

x

 

[bones]

Yup. Not bad.  And I?m sure the FCB owns a bunch of these. No wonder they?re always at the preschool for every single school event. And pickup. And dropoff.

 

[Burn That Belly]

x

 

[someguy]

Where are my thank yous?  I did all that math for y'all.

What's the current TI Thank You to BTC conversion rate?

 

[eyephone]

Yup. Not bad.  And I?m sure the FCB owns a bunch of these. No wonder they?re always at the preschool for every single school event. And pickup. And dropoff.

I don?t think they can live off just making 5%.
It?s also something else. (I don?t want to spill the beans) 

 

[someguy]

Yup. Not bad.  And I?m sure the FCB owns a bunch of these. No wonder they?re always at the preschool for every single school event. And pickup. And dropoff.

I don?t think they can live off just making 5%.
It?s also something else. (I don?t want to spill the beans) 

I'm afraid to ask...

 

[Burn That Belly]

x

 

[bones]

Yup. Not bad.  And I?m sure the FCB owns a bunch of these. No wonder they?re always at the preschool for every single school event. And pickup. And dropoff.

I don?t think they can live off just making 5%.
It?s also something else. (I don?t want to spill the beans) 

I'm afraid to ask...

I know where else they make money. They charge $900 per night for airbnb: https://www.airbnb.com/rooms/19875358?location=Irvine, CA, United States

That's $328K per year. Talk about ROI.  ;D

10 nights to pay the Mello?  Easy peasy.

 

[eyephone]

Yup. Not bad.  And I?m sure the FCB owns a bunch of these. No wonder they?re always at the preschool for every single school event. And pickup. And dropoff.

I don?t think they can live off just making 5%.
It?s also something else. (I don?t want to spill the beans) 

I'm afraid to ask...

Factories, restraunts, export/import

 

[someguy]

Yup. Not bad.  And I?m sure the FCB owns a bunch of these. No wonder they?re always at the preschool for every single school event. And pickup. And dropoff.

I don?t think they can live off just making 5%.
It?s also something else. (I don?t want to spill the beans) 

I'm afraid to ask...

Factories, restraunts, export/import

Sounds harmless, no?

 

[eyephone]

Yup. Not bad.  And I?m sure the FCB owns a bunch of these. No wonder they?re always at the preschool for every single school event. And pickup. And dropoff.

I don?t think they can live off just making 5%.
It?s also something else. (I don?t want to spill the beans) 

I'm afraid to ask...

Factories, restraunts, export/import

Sounds harmless, no?

Yes.
Money don?t go on trees. (only for some) 

 

[Burn That Belly]

x

 

[someguy]

Yup. Not bad.  And I?m sure the FCB owns a bunch of these. No wonder they?re always at the preschool for every single school event. And pickup. And dropoff.

I don?t think they can live off just making 5%.
It?s also something else. (I don?t want to spill the beans) 

I'm afraid to ask...

I know where else they make money. They charge $900 per night for airbnb: https://www.airbnb.com/rooms/19875358?location=Irvine, CA, United States

That's $328K per year. Talk about ROI.  ;D

10 nights to pay the Mello?  Easy peasy.

But then where's the "sense of community" people were preaching about ? 

If anything happens to me please be sure my tombstone (next to the GP) reads exactly as follows:

Sense of Community
ROI

 

[bones]

Yup. Not bad.  And I?m sure the FCB owns a bunch of these. No wonder they?re always at the preschool for every single school event. And pickup. And dropoff.

I don?t think they can live off just making 5%.
It?s also something else. (I don?t want to spill the beans) 

I'm afraid to ask...

I know where else they make money. They charge $900 per night for airbnb: https://www.airbnb.com/rooms/19875358?location=Irvine, CA, United States

That's $328K per year. Talk about ROI.  ;D

10 nights to pay the Mello?  Easy peasy.

But then where's the "sense of community" people were preaching about ? 

If anything happens to me please be sure my tombstone (next to the GP) reads exactly as follows:

Sense of Community
ROI

Do you want your posts to thank you ratio on there too?  It?s #goals.

 

[someguy]

Yup. Not bad.  And I?m sure the FCB owns a bunch of these. No wonder they?re always at the preschool for every single school event. And pickup. And dropoff.

I don?t think they can live off just making 5%.
It?s also something else. (I don?t want to spill the beans) 

I'm afraid to ask...

I know where else they make money. They charge $900 per night for airbnb: https://www.airbnb.com/rooms/19875358?location=Irvine, CA, United States

That's $328K per year. Talk about ROI.  ;D

10 nights to pay the Mello?  Easy peasy.

But then where's the "sense of community" people were preaching about ? 

If anything happens to me please be sure my tombstone (next to the GP) reads exactly as follows:

Sense of Community
ROI

Do you want your posts to thank you ratio on there too?  It?s #goals.

Only if the ratio is 8/11 (displayed as a decimal)

 

[Cares]

Boy, what a rip-off!  130 days on the market!
https://www.redfin.com/CA/Irvine/100-Omar-92620/unit-42/home/144771918

I like how the builder keeps increasing the price too without a justification to do so.

Listed at 1.431 in January. Increased to 1.439 later in January. Now it raised to 1.469.

 

[Kings]

Boy, what a rip-off!  130 days on the market!
https://www.redfin.com/CA/Irvine/100-Omar-92620/unit-42/home/144771918

I like how the builder keeps increasing the price too without a justification to do so.

Listed at 1.431 in January. Increased to 1.439 later in January. Now it raised to 1.469.

is this particular unit actually for sale right now or is this just a model?  i can understand if this address is just on the MLS to generate interest and the increasing price is really just to keep in line with new phases as they come out.