It’s pretty You could buy a cheaper property and spend 250k renovating and 6 months of your time and save money to get the same outcome
That’s probably what the builder/buyer did and is now selling for a nice hefty profit
And flippers generally do shit work with the cheapest materials. They after profit and that's it.
Man LA is overpriced. Leave and work remote for like 20% pay cut and get same house for 600k.
Where? If you say Texas or Florida I’ll just laugh. Sure … I want to pay taxes for an authoritarian state who would do anything to destroy democracy and eradicate people’s rights unless they are white men.
It might be hard to find a house like that for $600k in any LCOL city
Way under priced in 2020 it seems. Perhaps a sale to a relative or something.
Yeah
Explain flipping?
I think the premise is you buy property or an older/rundown house and “renovate it” or potentially upgrade it aesthetically and then resell it for significantly higher than you bought it for, with you collecting the profit between your renovations and the increased sales price.
^lmaooo
They prob spent at least 500k remodeling that house
My 250 estimate was only considering the exterior
These houses & lots are tiny for $1M+
Uffff. It’s a bankruptcy scam
? Can you explain?
Sell off to a relative before filing for bankruptcy. Likely a second home so it would be fair game during proceedings. there’s also tex losses to claim. 10-15K paw greasing will get your appraisals to where you need them by claiming structural faults. It’s a common con for farms and in large metro areas
I’m an agent in the LA area if anyone has any questions! I do 1-2 deals a month
+1, very interested in how you balance the two if you do actually work in Meta still
It’s not about money for people with multiple jobs 😂 just because someone works at meta or tech firms doesn’t mean they won’t develop interest in other fields. For multi jobber like us we have no loyalty to our employers and know that we are dispensable so we planning ahead 😱
Prices are coming down to where they should be
Where exactly? I see prices stagnant the last couple of months
sure...
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I think seller panicked during 2020 and sold it for too cheap.
Happened a lot in LA, this dude ain’t paying attention