The market is changing. Here's a little dandy that just came on the market. $395,000 in a neighborhood of $800,000 to $1,000,000 homes. I'm sure the previous owners ran out of money and steam.... probably in that order. So, what does this picture tell us?: Hillside, no handrail, upsloping lot, possibly no garage or sidewalk. Color indicates 1950's original construction, probable knob and tube electrical. So, the hillside gives us the most concern: Hydrostatic pressure over the years plus originally crappy foundation will probably find this thing "racked" and un-square. I'm sure there is plenty of unfinished work. Therefore, without seeing it, I can already smell the must, mold and fresh cut doug fir. You'll need cash and hard money to finanace this. No traditional bank will touch it... hence, the price. This is where cash talks and experience gets the deal done. The right person can put $150,000 into this beaut and flip it back onto the market in 60 days for $800,000. And that's how we do it downtown. Got the experience, cash and moxy? Let's go see it. Pat Townsley, Realtor and Hard Money broker. www.PTRE.net 415-485-1776
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