One of our readers, who happens to be a very excellent, savvy, and successful real estate investor, sends us this little message:
“I have been out-bid by a substantial margin twice in the last 3 weeks by Lembi. It seems that he will buy anything far above the highest bid and he is not a TIC guy. Cannot figure this guy out. Maybe the stale fish seller [referring to 497 Oak on the latest sfnewsletter] should raise the price to $2.0mm and call Lembi?”

Anybody else have a Lembi story?  We would imagine if you’re bidding on investment property, you would. 

–Word on the Multi-Family street [sfn blog]
–S.F. rental combine snaps up 452 more units [San Francisco Business Times]-subscription required, and we HIGHLY recommend you get a subscription if you have an interest in San Francisco real estate.