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5 Steps To Flipping Property In San Francisco

1. Find the most unwanted wreck of a home (crack house) in a great neighborhood (Cole Valley) and buy it:

downeyfrontbefore

2. Document any 1964 Datsuns with a blown motor trapped in the garage for 40+ years:

downeydatsun1

3. Rip up disgusting kitchens and baths:

downeykitchen1

downeybath1

4. Go to Haight Street, buy a magic wand, tap it three times, and poof! Datsun gone and property remodeled!

downeykitchenafter1

downeylrafter1

downeygarageafter1
[Notice the marketing remarks? “Two enormous storage areas which can easily accommodate surf boards…” So hip! Don’t forget spell check. 😉 ]

5. Slap a new price tag on it…orginally $1,200,000, and now only $1,158,000, throw it on the market as a single family home, or maybe a two unit building, or even two separate TICs, give it a personalized property website, cross your fingers, and hope you can soon see some return on your investment (of time, money, sweat, and sleepless nights.)

It’s that simple…

43-43 1/2 Downey, $1,158,000, Cole Valley [Single Family Home, Two Unit Building, Tenancies In Common]


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alexclark

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6 thoughts on “5 Steps To Flipping Property In San Francisco”

  • Serena

    November 3, 2009 at 11:39 am

    I don’t see a previous purchase price on Zillow. When was it purchase and at what cost? thanks.

    Reply
  • Financial Samurai

    November 3, 2009 at 7:35 pm

    All the sweat equity is worth it! Beautifully well done.

    Reply
  • Buzz Greeley

    November 5, 2009 at 9:07 pm

    What difference does the buy price matter? The asking price is well worth it.I saw it on Sunday and the outside is as fabulous as the inside!!

    Reply
  • Craig

    November 5, 2009 at 10:17 pm

    600K for a 1/1 TIC? Maybe I am missing something. I don’t like Cole Valley, so maybe that’s the problem, but these both seem overpriced to me. Try 500K.

    Reply
  • blababa

    November 6, 2009 at 1:28 am

    Small, small, small space, electric range, electric dryer hookup. Big, big, big, refrigerators, for hungry, hungry people living in 1BR. DWR slapped together, dreary colors inside.

    Reply
  • Buzz Greeley

    November 7, 2009 at 4:45 pm

    Hi Bla,

    Checked your info. Gas hookup for stove is there if that is what you want. I liked the colors inside. No red, tan, and yellow for me.
    Has huge, huge, huge garage and full floor of storage. Why so harsh?

    Reply

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