Jay the Realtor wannabe
on December 15, 2011 at 7:19 pm
Congrats on the win Jim! So the Tom who did the “painted lady” is the new owner of this one? Can’t WAIT to see what he’ll do with it!!! Those high wood ceilings are nice…I even like the retro tile in the showers. Hope he can keep some of the cool early 60s feel to the place.
Anyone here have any idea how much $ the flipper will need to sink into this place in order to get it in sellable condition? Just curious.
Petra
on December 15, 2011 at 10:30 pm
Just a point of correction…that wasn’t USD. That was St. Mary Magdalene and the school was School of the Madeleine. USD is southeast of that house. But in any event, the noise from the school seemed pretty loud, but realistically, it would just be during the day…when we would be at work anyway, so backing to the school would not bother me. I saw that house and was not surprised to see it go pending so quickly, given the listing price and the somewhat up and coming area. Congrats on winning the bidding war. Too bad it wasn’t higher up so you could get some bay view over the school.
Can’t wait to see Tom’s finished product!
Another Investor
on December 16, 2011 at 4:41 am
A seasoned flipper winning a bidding war? That house must have been one heck of a bargain to start with and have a LOT of potential.
Jakob
on December 16, 2011 at 6:05 am
Awesome, can’t wait to see how this unfolds!
lgs
on December 16, 2011 at 6:54 am
I like that neighborhood and am a sucker for mid-century modern. That’s a great house if he doesn’t get killed in the rehab costs and can price it well! Congrats.
Thanks to Jim for helping me pick this one up. It’s a departure from my usual M.O. but I’m excited to try a different style. I’m seeing a clean mid century modern with frosted glass full view garage door and front door, all new aluminum frame windows and continue the modern feel inside with material and fixture choices. I don’t have the normal big budget to work with on this one so it’ll be a tight rope walk to get the look without going overboard so we can make some money. I paid a little more than I wanted, mostly because its 3 minutes from my house, but with $500k as the exit price we can do better than o.k.
If it wasn’t for Jim’s professionalism and having him and his team on my buying side, I probably wouldn’t have got this one. Honestly I found this house on my own when it hit MLS. I thought for a second I’ll pull the old trick and write with the listing agent but instead called Jim after such a good experience with him on the last project, and boy am I glad I did. I’ve written over 50 offers this year by myself and through other agents, but when I saw the way Jim put my offer together, his presentation, and the instant rapport he built with the selling agent it really opened my eyes on how in a competitive market like this it’s imperative to have someone awesome like Jim represent you if you want to win bidding wars. It’s not just the price that gets your offer accepted, its your agent, your terms and small details that most agents overlook. Jim has some surgeon-like Ninja skills when it comes to real estate, everything was lazer sharp, on point, high speed and digital. I don’t have one piece of paper from this transaction yet, everything was done online and with Docusign. I think in one counter we had stuff changed, signed and turned around and in the selling agents email in 6 minutes and at 6 am! What agents do you know that work like this? I’ve now seen Jim in action on both the selling and buying side, cant wait to see him sell this one for me and handle a multiple offer situation: ) Thanks Jim for the great job and showing me how the big dogs play here in San Diego!
We knew going in that the listing agent didn’t have that much experience with dual agency – he has six double-enders in his career, and five of those six were under $150,000.
He has had 22 closings this year, which is very good, but all but one were $250,000 or under.
Listing agents who aren’t that experienced with dual agency shy away from it, and especially in a major bidding war….it gets very delicate.
They are worried about inpropriety, and aren’t sure how to ethically tilt the table in favor of their client, that, in the end, they may prefer that another buyer wins, just to make it easier.
If the bids were close, and we were a little under in price, we might have still won due to our favorable terms.
So that’s what happened to all of those ice cream truck drivers. I fully expect to see a new line of JTR Frozen Treats in NSD County.
This new project looks like a great one. Can’t wait to see it unfold.
Booty Juice
on December 16, 2011 at 5:26 pm
Gotta be able to act like Columbo and perform like Luke Skywalker to score in the bigs.
Susie
on December 16, 2011 at 7:46 pm
“Every time I’m around another Realtor, I play stupid” – JtR
I knew that was your strategy, Jim! Congrats to you and Tom. Can’t wait to see Tom’s rehab, and who doesn’t love a project 3 minutes from where he lives? Just think, Tom, you can go home for lunch and see your new baby, Shane…
tj & the bear
on December 16, 2011 at 9:12 pm
If you’re going to visit rehab projects and “play stupid” you should drive the truck. I miss seeing it! 😉
Jim, whats this about an old truck? I have a 1970 C20 long bed. I break it out on special occasions if I need to beat up a sub contractor for lower prices: )
Hey I remember that truck now from your party on vid a few years back at a park and ride. Old Chevy fan, I knew I liked you for some other reason besides your real estate skills.
@Francis, this one actually isn’t bank owned, its a probate sale.
Congrats on the win Jim! So the Tom who did the “painted lady” is the new owner of this one? Can’t WAIT to see what he’ll do with it!!! Those high wood ceilings are nice…I even like the retro tile in the showers. Hope he can keep some of the cool early 60s feel to the place.
Yes, Tom Tarrant!
He’s working on a mid-century catholic modern look!
Catholic modern look right next to a Catholic school should sell easy.
So does Tom have a target price? And if so do you have any offers on his finished product yet? Seriously.
It’ll be in the $500,000s.
Anyone here have any idea how much $ the flipper will need to sink into this place in order to get it in sellable condition? Just curious.
Just a point of correction…that wasn’t USD. That was St. Mary Magdalene and the school was School of the Madeleine. USD is southeast of that house. But in any event, the noise from the school seemed pretty loud, but realistically, it would just be during the day…when we would be at work anyway, so backing to the school would not bother me. I saw that house and was not surprised to see it go pending so quickly, given the listing price and the somewhat up and coming area. Congrats on winning the bidding war. Too bad it wasn’t higher up so you could get some bay view over the school.
Can’t wait to see Tom’s finished product!
A seasoned flipper winning a bidding war? That house must have been one heck of a bargain to start with and have a LOT of potential.
Awesome, can’t wait to see how this unfolds!
I like that neighborhood and am a sucker for mid-century modern. That’s a great house if he doesn’t get killed in the rehab costs and can price it well! Congrats.
Thanks to Jim for helping me pick this one up. It’s a departure from my usual M.O. but I’m excited to try a different style. I’m seeing a clean mid century modern with frosted glass full view garage door and front door, all new aluminum frame windows and continue the modern feel inside with material and fixture choices. I don’t have the normal big budget to work with on this one so it’ll be a tight rope walk to get the look without going overboard so we can make some money. I paid a little more than I wanted, mostly because its 3 minutes from my house, but with $500k as the exit price we can do better than o.k.
If it wasn’t for Jim’s professionalism and having him and his team on my buying side, I probably wouldn’t have got this one. Honestly I found this house on my own when it hit MLS. I thought for a second I’ll pull the old trick and write with the listing agent but instead called Jim after such a good experience with him on the last project, and boy am I glad I did. I’ve written over 50 offers this year by myself and through other agents, but when I saw the way Jim put my offer together, his presentation, and the instant rapport he built with the selling agent it really opened my eyes on how in a competitive market like this it’s imperative to have someone awesome like Jim represent you if you want to win bidding wars. It’s not just the price that gets your offer accepted, its your agent, your terms and small details that most agents overlook. Jim has some surgeon-like Ninja skills when it comes to real estate, everything was lazer sharp, on point, high speed and digital. I don’t have one piece of paper from this transaction yet, everything was done online and with Docusign. I think in one counter we had stuff changed, signed and turned around and in the selling agents email in 6 minutes and at 6 am! What agents do you know that work like this? I’ve now seen Jim in action on both the selling and buying side, cant wait to see him sell this one for me and handle a multiple offer situation: ) Thanks Jim for the great job and showing me how the big dogs play here in San Diego!
Tom: Congrats!
Inspiring site: http://www.retrorenovation.com
Thanks Tom!
We knew going in that the listing agent didn’t have that much experience with dual agency – he has six double-enders in his career, and five of those six were under $150,000.
He has had 22 closings this year, which is very good, but all but one were $250,000 or under.
Listing agents who aren’t that experienced with dual agency shy away from it, and especially in a major bidding war….it gets very delicate.
They are worried about inpropriety, and aren’t sure how to ethically tilt the table in favor of their client, that, in the end, they may prefer that another buyer wins, just to make it easier.
If the bids were close, and we were a little under in price, we might have still won due to our favorable terms.
Hearty congrats!
>>> Jim has some surgeon-like Ninja skills
So that’s what happened to all of those ice cream truck drivers. I fully expect to see a new line of JTR Frozen Treats in NSD County.
This new project looks like a great one. Can’t wait to see it unfold.
Gotta be able to act like Columbo and perform like Luke Skywalker to score in the bigs.
“Every time I’m around another Realtor, I play stupid” – JtR
I knew that was your strategy, Jim! Congrats to you and Tom. Can’t wait to see Tom’s rehab, and who doesn’t love a project 3 minutes from where he lives? Just think, Tom, you can go home for lunch and see your new baby, Shane…
If you’re going to visit rehab projects and “play stupid” you should drive the truck. I miss seeing it! 😉
Susie, Love,love,love
@ Tom, just read your post on the MCM and your plans and ideas. It sounds great and I learned what awning windows are too. 🙂
I’m looking forward to your progress reports, you have such a great eye. Best of luck to you and happy Holidays.
@Tom, with your track record I’m surprised you haven’t already received pre-offers.
wow and thaylor thanks!
Jim, whats this about an old truck? I have a 1970 C20 long bed. I break it out on special occasions if I need to beat up a sub contractor for lower prices: )
Tom, you should definitely ride the REO SpeedWagon! And don’t forget the horn! 🙂
Congrats!
The beast – 1966 Chevy stepside long bed w/new 350:
http://www.youtube.com/watch?v=cCRfGfOdZcc
Hey I remember that truck now from your party on vid a few years back at a park and ride. Old Chevy fan, I knew I liked you for some other reason besides your real estate skills.
@Francis, this one actually isn’t bank owned, its a probate sale.