Living the San Francisco Dream

head_left_image

"We want to buy an investment condo in San Francisco"

"We think we want to buy an investment condo in San Francisco; how do we start?"

new construction Van Ness CorridorSo began a recent email and phone exchange between past clients and me.

  • We talked budget (they are looking under $800,000, financing about 60-70% of the purchase)
  • They want new construction, or almost new
  • Their target tenant is a hi-tech worker (of which there are plenty in San Francisco)
  • We talked neighborhoods (which ones appeal to their target tenant?)

While in most parts of the country their target price would give them a multitude of choices, here in San Francisco choices are limited. However, there are a few places that I believe meet their criteria well, and we have appointments set up to look at a couple next Saturday.

I have written before about opportunities along the Van Ness corridor, and this is the area we'll be concentrating on first.

The two projects we'll visit are both new builds in the Middle Polk Street neighborhood, an area popular with their target tenant, with good public transportation (including a cable car line heading over the top of Nob Hill and down to the financial district.) One can live here happily without the expense of owning a car, and many do just that.

model of condo building under constructionOne building is still under construction, with scheduled hard hat tours available and a sales office showing finishes of floors, cabinets, etc. All appliances are included here except a washer/dryer; each unit is plumbed for them.

Roughly 35% of the units have already been pre-sold. The other building is completed, with just a couple of units remaining for sale.

If you have been considering making a purchase, either for your own use, for a family member, or as a rental investment, I urge you to begin the process now while opportunities remain.

If you will be obtaining financing, it's all the more important to act now before interest rates take the jump upward.

 

--- Come for a visit; Stay for a lifetime!

Lottie Kendall, Realtor®

Compass

CA DRE#10215160; 650-465-4547

Lottie@LottieKendall.com

www.LottieKendall.com

Peninsula Living Business Page

www.SFCondosForMe.com

 

 

Comment balloon 19 commentsLottie Kendall • April 09 2017 03:45PM

Comments

You are obviously THE agent to call for knowledgeable advice about San Francisco and the Peninsula. 

Posted by Susan Haughton, Susan & Mindy Team...Honesty. Integrity. Results. (Long and Foster REALTORS (703) 470-4545) over 3 years ago

Hi Susan Haughton - thank you for your comment; much appreciated. I love helping buyers find the right fit for them and making it happen.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 3 years ago

It really does sound like a great investment opportunity especially with the rental market being such a volatile and lucrative market right now in San Francisco Lottie Kendall 

Posted by Paul S. Henderson, REALTOR®, CRS, South Puget Sound Washington Agent/Broker! (Fathom Realty Washington LLC) over 3 years ago

Lottie I'll take the condo with the fabulous patio and view!  Really good post and sage advice. Investors should get the process started while there are still some opportunities to be found by the local expert Lottie Kendall .

Posted by Anna Banana Kruchten CRB, CRS, Broker, Instructor, 602-380-4886 (HomeSmart Real Estate BR030809000) over 3 years ago

You are working with such a different kind of clientele than I am, Lottie. It's rare to get that buyer who can afford such a price tag in Sac. I had somebody call me from Texas last week saying they wanted to buy a home with acreage in Sacramento for $200K. Well, the only place I could think of was Rio Linda. And then they yelled because my buyer's agent didn't call them back within 5 minutes. Some days I wish I had nothing but $800K clients.

Posted by Elizabeth Weintraub Sacramento Realtor Top 1%, Put 40 years of experience to work for you (RE/MAX Gold) over 3 years ago

Lottie I find it that even at $800k it is hard to find anything that is a good value in my market and if there is one there are ten or more other buyers who want it too:)Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) over 3 years ago

Great job working with this client and finding them the right opportunity in SF.

Posted by Ryan Huggins - Thousand Oaks, CA, Residential Real Estate and Investment Properties (https://HugginsHomes.com) over 3 years ago

Hi Lottie - with you red hot market it won't before all are sold out.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) over 3 years ago

Good evening Lottie Kendall ,

You know your market and are the one to call if looking for properties in San Francisco and the Peninsula. Good advice..thank you for sharing.

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker Realty ~ 512.750.6899) over 3 years ago

Well, Anna Banana Kruchten, CRS , if you want that patio to be private, you'd have to buy all the units  That is actually a shared roof deck. When the Blue Angels fly overhead in October, this deck will be full and the view outstanding.

Hi Paul S. Henderson, CRS, REALTOR®, - condos in buildings like these are being snapped up quickly, often as soon as they go up for sale, completed or not.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 3 years ago

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents - lots of first-time buyers are paid well in SF and can afford $800,000. The problem is two-fold; saving for a 20% down is tough, and the competition is fierce. That's one of the benefits of buying new construction - no multiple offers.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 3 years ago

Endre Barath, Jr. - $800,000 doesn't go far here, either. I have only a handful of new construction places; the 2 I'm showing on Saturday (a 1-bedroom and a Jr 1-bedroom)

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 3 years ago

Ryan Huggins - Thousand Oaks, CA - thank you. One has to act quickly and decisively in this red-hot market. Luckily, my clients will be able to do that once they decide it's what they want.

Hello Grant Schneider - you're absolutely right; these units are being snapped up quickly; demand is high; prices are rising....

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 3 years ago

Thank you for the vote of confidence, Dorie Dillard. I love working with clients to help them achieve their goals.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 3 years ago

Lottie Kendall - I am with you. SFO is the place where this budget is small. However, you are there to help this investor and you did find a good place for the investor.

Posted by Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners) over 3 years ago

Lottie, you are the REALTOR to call to find just the right property for these Buyers wanting their first rental property.  Best of luck!  

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (House to Home, Inc. - Denver Real Estate - 720-231-6373) over 3 years ago

Hello Praful Thakkar and Joan Cox - thanks for your comments. I helped this couple buy their first house a number of years ago. Then I helped them buy their move-up house, while they kept their first house and turned it into a rental. Now they want to expand with a condo in SF. Wise young couple!

 

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 3 years ago

Good luck with your new investor.

Have a most productive spring market.

Posted by Roy Kelley (Realty Group Referrals) over 3 years ago

Thank you Roy Kelley - we'll see what they think of the couple of places I have available to show them.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 3 years ago

Participate