Northpark Flip: 2 Malibu

[irvinehomeowner]

I already bet way more than $13k on Irvine house pricing... it didn't turn out as well as I would have hoped strictly from a financial point of view... but I'm not Indie, so I don't see it as too much of a loss.

 

[luckyguy]

You are still acting like a kid. I want to see you IQ report (minimal 80 needed) to make sure you are competent enough to make a bet by yourself so that your wife and your dad won't cry fouls when you lose your pants. I will give you a couple of days to get tested. During this time, I will talk to the owner to see how he can sell the house faster with $13k incentive from you and USTrojanCPA.  He needs more people like you and USTrojanCPA so that higher incentive is available for potential buyers.

So basically you're admitting that you're going to cheat, and that you need a cash incentive for this house to actually sell at the ridiculous price this house is listed at.

I just want to make it clear for everyone to see.

Why are you afraid of incentive only at $13k? The house price is ridiculous and at least $100k over market, right?

 

[IndieDev]

Cliff notes for those who don't want to read the entire thread:

- NonFCB claims 2 Malibu will SURELY close at $1.1m  or above
- The entire thread laughs at his claim.
- IndieDev calls NonFCB a "certifiable genius"
- NonFCB gets insecure and starts calling people losers who want "50% discounts" so they can live in Irvine, then goes on to make a $10,000 bet that the home will close at/over $1.1m.
- IndieDev accepts bet and offers the personal services of his accountant to close the deal. USCtrojanCPA piggybacks a $3,000 wager.
- NonFCB disappears for a day
- IndieDev calls out NonFCB to close the deal, and NonFCB basically admits that he will make a back door deal (aka cheat) with the seller to offer a $13,000 incentive to help try and sell the house above the $1.1m.

I don't think anything else really needs to be said.

 

[venkat]

- The entire thread laughs at his claim.

Really? I thought we were all just watching a show...with popcorn (courtesy IHO) that is!

 

[IndieDev]

Really?

To refresh your memory:

The initial post that started NonFCB's entry into the thread:

So the dude put it up for sale in late 2008...couldn't sell the bloody house until he sold it in 2009 for 900k.  What makes this dumb guy who is selling this think that he can make 300k on it with these market conditions?

NonFCB's unwittingly hilarious response:

Do you understand pricing strategy? My friend is way smarter than you. $2m cash he paid for his newport coast house is more than you can save in your life time. You are just a whining loser here hoping that Irvine house price can be 50% off so that you can afford a house here.

Then of course the next 3 weeks of people saying NonFCB is wrong:

There's no need for name calling.  Yes, both Frank and IAC understand pricing strategy and this guy is CRAZY asking $1.2m for a home that backed up to Culver, especially considering that he paid $900k for it 2 years ago.  But hey, the market is smarter than all of us put together so we shall see if it'll sit there collecting dust (my money is that it won't close near $1.2m).

If someone pays $1.2m to live next to Culver, they are either stupid or deaf.

Technically, this isn't a flip if it was owner-occupied... but I do think that trying to get $1.2m after a $900k 2009 price is a bit lofty considering it backs Culver.

This particular one evokes the most laughter from myself:

The irony...
" Do you know cash is king in real estate? We use all cash purchase to get the best discount, " by NonFCB

Then of course after the house lingers on the market for nearly a month without even a nibble:

UPDATE: so 25 days and counting and no sale yet. Price has now dropped to $1.149M.

NonFCB is a verifiable genius.

Come on guys, thie is clearly still part of the pricing strategy.

Let's play the "Guess What This House Will Sell For" game. I'm going to guess $940k.

If this is not comedy at its internet finest, then I don't know what is.

 

[usctrojancpa]

Cliff notes for those who don't want to read the entire thread:

- NonFCB claims 2 Malibu will SURELY close at $1.1m  or above
- The entire thread laughs at his claim.
- IndieDev calls NonFCB a "certifiable genius"
- NonFCB gets insecure and starts calling people losers who want "50% discounts" so they can live in Irvine, then goes on to make a $10,000 bet that the home will close at/over $1.1m.
- IndieDev accepts bet and offers the personal services of his accountant to close the deal. USCtrojanCPA piggybacks a $3,000 wager.
- NonFCB disappears for a day
- IndieDev calls out NonFCB to close the deal, and NonFCB basically admits that he will make a back door deal (aka cheat) with the seller to offer a $13,000 incentive to help try and sell the house above the $1.1m.

I don't think anything else really needs to be said.

Don't forget this little jab from NonFCB....

"It's better to be busy like Mike than sitting in front of a computer and pitching business to new TI members, even though most of them already have agents."

I love how some people think they know anything when in reality they have no idea what's going on. 

 

[luckyguy]

Cliff notes for those who don't want to read the entire thread:

- NonFCB claims 2 Malibu will SURELY close at $1.1m  or above
- The entire thread laughs at his claim.
- IndieDev calls NonFCB a "certifiable genius"
- NonFCB gets insecure and starts calling people losers who want "50% discounts" so they can live in Irvine, then goes on to make a $10,000 bet that the home will close at/over $1.1m.
- IndieDev accepts bet and offers the personal services of his accountant to close the deal. USCtrojanCPA piggybacks a $3,000 wager.
- NonFCB disappears for a day
- IndieDev calls out NonFCB to close the deal, and NonFCB basically admits that he will make a back door deal (aka cheat) with the seller to offer a $13,000 incentive to help try and sell the house above the $1.1m.

I don't think anything else really needs to be said.

Don't forget this little jab from NonFCB....

"It's better to be busy like Mike than sitting in front of a computer and pitching business to new TI members, even though most of them already have agents."

I love how some people think they know anything when in reality they have no idea what's going on. 

I am sure Indie and you rank first and second among "some people".

 

[IndieDev]

NonFCB is still a genius.

 

[venkat]

Hey,
I just realized that Indie has footer quoting posted words from non-FCB. That means NonFCB's words has "touched" Indie that deep. It just re-emphasizes my earlier post that Indie has finally met his match!

Bet or not, IQ report or not, NonFCB - take a bow!

 

[IndieDev]

His words have touched me deeply, and I hope they touch others as they have me.

 

[frank69m]

Can't we all just calm down and grab a coffee and smoothie at one of those Cafe's in Garden Grove?  8)  or maybe at Cafe Lu?  :-*


Or maybe we should all meet there on Saturday at the Open House:

Saturday, May 14, 2011 1:00 PM - 5:00 PM

 

[IndieDev]

I'll be in Northpark this Saturday for a poker tournament. I think I may stop by 2 Malibu just to see how many people don't buy this house at $1,100,000+.

 

[IndieDev]

Gee, that open house must've sucked.

Recently lowered:
May 18, 2011 Price Changed $1,118,888 http://www.redfin.com/CA/Irvine/2-Malibu-92602/home/5772647

Pricing strategy baby! 

 

[usctrojancpa]

Gee, that open house must've sucked.

Recently lowered:
May 18, 2011 Price Changed $1,118,888 http://www.redfin.com/CA/Irvine/2-Malibu-92602/home/5772647

Pricing strategy baby! 

Non-FCB better stick to his day job.  Too bad he didn't actually man up and make the bet, I could haved used the $3,000 in winnings. 

 

[luckyguy]

Gee, that open house must've sucked.

Recently lowered:
May 18, 2011 Price Changed $1,118,888 http://www.redfin.com/CA/Irvine/2-Malibu-92602/home/5772647

Pricing strategy baby! 

Non-FCB better stick to his day job.  Too bad he didn't actually man up and make the bet, I could haved used the $3,000 in winnings. 

I was waiting for Indie's report. I would be glad to accept your report instead and take your bet.

 

[usctrojancpa]

Gee, that open house must've sucked.

Recently lowered:
May 18, 2011 Price Changed $1,118,888 http://www.redfin.com/CA/Irvine/2-Malibu-92602/home/5772647

Pricing strategy baby! 

Non-FCB better stick to his day job.  Too bad he didn't actually man up and make the bet, I could haved used the $3,000 in winnings. 

I was waiting for Indie's report. I would be glad to accept your report instead and take your bet.

I'm waiting on you guys to figure out the particulars so that I can join in one the fun. 

 

[davenlei]

Gee, that open house must've sucked.

Recently lowered:
May 18, 2011 Price Changed $1,118,888 http://www.redfin.com/CA/Irvine/2-Malibu-92602/home/5772647

Pricing strategy baby! 

Non-FCB better stick to his day job.  Too bad he didn't actually man up and make the bet, I could haved used the $3,000 in winnings. 

I was waiting for Indie's report. I would be glad to accept your report instead and take your bet.

I'm waiting on you guys to figure out the particulars so that I can join in one the fun. 

Making a bet should not be this hard.  Vegas would have never happened if that was the case.

 

[IndieDev]

Gee, that open house must've sucked.

Recently lowered:
May 18, 2011 Price Changed $1,118,888 http://www.redfin.com/CA/Irvine/2-Malibu-92602/home/5772647

Pricing strategy baby! 

Non-FCB better stick to his day job.  Too bad he didn't actually man up and make the bet, I could haved used the $3,000 in winnings. 

I was waiting for Indie's report. I would be glad to accept your report instead and take your bet.

I'm waiting on you guys to figure out the particulars so that I can join in one the fun.

The particulars are "IndieDev accepted NonFCB's challenge/bet for $10,000". NonFCB realizing that his bank account couldn't cover $10, decided to chicken out. He admitted he would basically try to cheat, and make a back door deal with the seller (who he claims to know) to try and give a $13,000 incentive to sell the home for $1.1 million or over.

Fortunately, this thread will forever live on as a reminder of why NonFCB is a genius.

 

[luckyguy]

Gee, that open house must've sucked.

Recently lowered:
May 18, 2011 Price Changed $1,118,888 http://www.redfin.com/CA/Irvine/2-Malibu-92602/home/5772647

Pricing strategy baby! 

Non-FCB better stick to his day job.  Too bad he didn't actually man up and make the bet, I could haved used the $3,000 in winnings. 

I was waiting for Indie's report. I would be glad to accept your report instead and take your bet.

I'm waiting on you guys to figure out the particulars so that I can join in one the fun.

The particulars are "IndieDev accepted NonFCB's challenge/bet for $10,000". NonFCB realizing that his bank account couldn't cover $10, decided to chicken out. He admitted he would basically try to cheat, and make a back door deal with the seller (who he claims to know) to try and give a $13,000 incentive to sell the home for $1.1 million or over.

Fortunately, this thread will forever live on as a reminder of why NonFCB is a genius.

Where is your IQ test report? I told the owner that $13k incentive is coming. We just need to wait for a report from a genius MBA, investment banker and venture capitalist who is sure to pass the test with ease. The owner was very excited and decided to reduce the price right away. He said he would use the incentive as 1% buyer co-op. I told him that I might match the incentive if needed. He said if I did that, he would kick in additional money to make 3% buyer co-op. If USCTrojanCPA can find a buyer for the house, it will be a win-win for everyone. The owner can sell the house at ridiculous price. I will win the bet. You and USCTrojanCPA will win all the money. Everyone is a winner!

As you are so excited for the bet, can someone help me set up a poll with the following options?
1. IQ test report is needed
2. Only wife or dad's approval letter is needed
3. Nothing is needed
If a majority of TI member select option 3, I will be happy to take your bet right away.

 

[IndieDev]

You are a genius NonFCB. I think TIC members should take note and listen to your theories on "pricing strategy."