SF - ideas on where to live?

[HarryLopez2]

Wifey and daughter just got back from visit to SF to finalize daughters Aussie passport (dual citizen!), and first thing my daughters says is, 'The Walgreens downtown had an armed guard with a machine gun standing outside. I asked him why, and he said cause the police aren't busting shoplifters'

 

[Leaverite]

Seattle.

The land of the Homeless. It's a new American Ghost Town. Every bidness, every bidness person is Fleeing...

 

[Yewstreet]

You seem to possess an elevated worth of yourself... Maybe a good hotel? Like the Clift, or the Saint Francis???

From what I've been told that is cheap for a studio! I'm new here so I pretty much know nothing

 

[Yewstreet]

Wifey and daughter just got back from visit to SF to finalize daughters Aussie passport (dual citizen!), and first thing my daughters says is, 'The Walgreens downtown had an armed guard with a machine gun standing outside. I asked him why, and he said cause the police aren't busting shoplifters'

Caught on camera: man steals from Walgreens during news report

Video credit: Inside Edition

www.kron4.com

 

[SurfFuerteventura]

thanks for that yewstreet.

basically just relived my 20's-30's through this thread.

1506 Funston Avenue. (Funston and Kirkham)...

Worked on 2st in SOMA.

Practically gave up on surfing for a decade.

Travelled, partied my balls off, got every single Yaya out there was to get.

1974 240Z to get out of the city.

Single.

Huge salary, very low rent (moved in just after Loma Prieta shook) for the entire house... $900/month. Made a bundle subletting the inlaw later when rents skyroketted.

There was literally only dog poop and only in GG park. The streets were clean. The homeless were there, but had a totally different vibe.

Left in 1999. Returned in 2016 for a visit (hey Mr Doof! ) and cried seeing what The City Herb Cain used to call Baghdad by the Bay back then had become.

Hope you enjoy your time there.

San Francisco is one of the very few cities I ever found myself to be "at home" in ever.

Glad I put surfing on the back burner then, no regrets, had a 15 year run here during low population cycles on the island with great surf.

Never regret anything in life... Charge it like it's a late take off inside double up!!!!

Yew!!!!

 

[stringcheese]

I put a tent up in Golden gate park once for four days. No one said anything, save for to offer drugs. Try that?

 

[TeamScam]

I enjoyed this too.
I think you should probably err on the side of surfing, but I never intended to chase the upward mobility a job in SF might offer a young person in the first place.
In my 20's, My favorite answer to the question "what are your plans?" Was "I'm definitely not trying to conquer the world, or buy it."
It's a good thing I chose to surf as much as I did which didn't necessarily make it happen but anyway, surf skills, or the ability to rely on those skills to just go out and snag a few good rides later in life, definitely DOES NOT LAST A LIFETIME!
Do not stray too far from the surf, do not take it for granted down the line. You will most likely end up having to settle for much less than you ever intended.

 

[Leaverite]

I enjoyed this too.
I think you should probably err on the side of surfing, but I never intended to chase the upward mobility a job in SF might offer a young person in the first place.
In my 20's, My favorite answer to the question "what are your plans?" Was "I'm definitely not trying to conquer the world, or buy it."
It's a good thing I chose to surf as much as I did which didn't necessarily make it happen but anyway, surf skills, or the ability to rely on those skills to just go out and snag a few good rides later in life, definitely DOES NOT LAST A LIFETIME!
Do not stray too far from the surf, do not take it for granted down the line. You will most likely end up having to settle for much less than you ever intended.

Seattle seems to be a good choice...

 

[PeterDj]

I moved out in 2002, when the rivethead-indistrial punks got out numbered by candy ravers. I saw that as a sign that the city will never be as cool as it once was. Made the responsible adult decision to buy a much bigger house in the valley. I was hoping Trump tariffs on China and H1B visa cancellation for the rest of south asia would drive market prices down so I can relocate to Santa Cruz now that I can work form home thanks to Covid workation, but no. The country had to go vote Biden, now real estate prices will sky rocket again with a massive influx of asian investors looking to stash their money before their own government confiscates it like they did to Jack Ma. The increased bay area salary still doesn't equate to the housing cost disparity. While the Pelosinnis enjoy their socially distanced dinner parties in their ivory towers, we can only watch from the streets with our face tampons on. I love it how the nimby's voted no on prop 15, yet yell and scream we need higher taxes to solve poverty.

 

[Driftcoast]

Just upgraded to a 3 bedroom house on 9th Avenue and Ortega with a garage, washer dryer, and next door to a nice park for my son. All thanks to the wife's generous salary. Same price we were paying for a two bedroom flat on the noisy and dirty corner of 25th and Balboa. The well-meaning owners didn't know what the hell they were doing when they bought this 100 year old house, and they have had to make a lot of expensive repairs since we moved in (rodent control, plumbing, electrical). They basically refinished the floors, put new countertops and vanities in, upgraded the appliances and put it on the market. We took it because the price was so good and we liked the space and location. Luckily, they are committed to doing things the right way and making us satisfied, but holy sh!t we are beta testing this house while they learn how to be landlords.

Also, OP: Time to get some lumber!

No screwing up potentially good landlords with stupid behavior! Last set of jerks my landlord had scared her so there were a few years of nitpickiness and passive aggressiveness and it took a while to calm her down. Pay on time and she asks me if anything needs anything.

 

[Bob Dobbalina]

Just upgraded to a 3 bedroom house on 9th Avenue and Ortega with a garage, washer dryer, and next door to a nice park for my son. All thanks to the wife's generous salary. Same price we were paying for a two bedroom flat on the noisy and dirty corner of 25th and Balboa. The well-meaning owners didn't know what the hell they were doing when they bought this 100 year old house, and they have had to make a lot of expensive repairs since we moved in (rodent control, plumbing, electrical). They basically refinished the floors, put new countertops and vanities in, upgraded the appliances and put it on the market. We took it because the price was so good and we liked the space and location. Luckily, they are committed to doing things the right way and making us satisfied, but holy sh!t we are beta testing this house while they learn how to be landlords.

Also, OP: Time to get some lumber!

Funny, We've looked at several places on Balboa and can't seem to want to pull the trigger on any.

 

[potato-nator]

You seem to possess an elevated worth of yourself... Maybe a good hotel? Like the Clift, or the Saint Francis???

Neil Youngs couch?

 

[waxhead]

I guess I'm a nimby-I voted no on 15. It would have meant an increase of 60k a year in property tax by 2025 for me. For others, it would have been much worse.
The state would have raked in billions in extra taxes. But who would have foot the bill? All of us.

I found a tenant for a part of my warehouse who wanted a six year deal. I only gave him five years because 15 would have kicked in in 2025 for small business occupied commercial spaces. If I'm paying an extra 60k, then he was going to have to come to the party too. Pretty sure he'd have raised the price of the things he makes to cover it. No real choice in the matter. I'd have done the same.

Safeway rents their stores, and their rents would have skyrocketed. So would their prices.

Solving poverty? It will never be solved. It's too profitable.

Over the years I've known many people who sold their SF property. It has never worked out financially. One guy sold his place in the Haight for over a million. This was a while back and a mill seemed like an obscene number. He thought he'd rent till the prices went down. Bad move, they never did. That place would sell for around 3 mil today.

Rivetheads and candy ravers? I know not of which you speak.

Old guy out.

I moved out in 2002, when the rivethead-indistrial punks got out numbered by candy ravers. I saw that as a sign that the city will never be as cool as it once was. Made the responsible adult decision to buy a much bigger house in the valley. I was hoping Trump tariffs on China and H1B visa cancellation for the rest of south asia would drive market prices down so I can relocate to Santa Cruz now that I can work form home thanks to Covid workation, but no. The country had to go vote Biden, now real estate prices will sky rocket again with a massive influx of asian investors looking to stash their money before their own government confiscates it like they did to Jack Ma. The increased bay area salary still doesn't equate to the housing cost disparity. While the Pelosinnis enjoy their socially distanced dinner parties in their ivory towers, we can only watch from the streets with our face tampons on. I love it how the nimby's voted no on prop 15, yet yell and scream we need higher taxes to solve poverty.

 

[PeterDj]

I guess I'm a nimby-I voted no on 15. It would have meant an increase of 60k a year in property tax by 2025 for me. For others, it would have been much worse.
The state would have raked in billions in extra taxes. But who would have foot the bill? All of us.

Or you could look at it as the fixed property tax set by prop 13 originally is the cause for inflated real estate prices. If the property value goes down, then your tax payment also goes down and vice versa. Problem is any new investor has to pay taxes on the price they paid for the property. So, the older generation and their offspring gets a free ride, while anyone else trying to move up has to pay for everything. The city fights hard to prevent new development so that the older generation can supposedly keep it looking like how they dreamed it should look back in the 60's, but really it's because they enjoy living off of equity loans on their hyper inflated properties. We will see if prop 19 motivates anyone to cash out and relocate elsewhere. I'm no philanthropist either, if I had property inherited from my parents in the city, no way would I vote for 15.

 

[Mr Doof]

In my 20's, My favorite answer to the question "what are your plans?" Was "I'm definitely not trying to conquer the world, or buy it."

Edit:

Over the years I've known many people who sold their SF property. It has never worked out financially. One guy sold his place in the Haight for over a million. This was a while back and a mill seemed like an obscene number. He thought he'd rent till the prices went down. Bad move, they never did. That place would sell for around 3 mil today.

1 Used to work with a guy who owned a home in the Sunset. He sold in late 90s, convinced the housing crash was coming in a two years, and he would buy back then. He ended up having to move further and further away from work and then quit due to the commute. Prices never came back down...they flattened for a while in the early 2000s and then again in 2008/2009. CV-19 has reduced rents and some condo prices, but ownership prices?

2 Retired SFPD across the street says the union tells all retirees not to sell and bug out of the City/Bay Area within a year of retirement. "Go try out out a new place before you sell or move out because it will be very costly to move back if you change your mind." Or course this 'one size fits all' advice is rarely true for 100% of people, so, you pay your $, you take your chances, and live with the result.

 

[Bob Dobbalina]

I guess I'm a nimby-I voted no on 15. It would have meant an increase of 60k a year in property tax by 2025 for me. For others, it would have been much worse.

Serious question,

How much have your lease agreement rates gone up (In otherwords: How much were you charging tenants 20 years ago vs. now?)


How/What operational expenses have increased in the last 20 years?

 

[waxhead]

Thing is the property tax is significant even with 13. And it goes up 2% every year, which over time adds up. Last week I paid 40k in property taxes.That isn't a free ride in my book. Many years of my adult life I didn't earn 40k. I'm not the owner of a big business, just a mom and pop shop-we worked for decades and saved. I went to HS with a buddy who pays much more, it was the same with him, started with nothing. It's a false narrative that newbies pay it all.

I did inherit half a house and got the stepped up basis. I could have sold and paid no tax. But I rented it instead to a family with kids. Not because I'm a saint but because it's hard to get property here, and once you sell it, it's gone for good. My mom bought that house with no money back when you could assume a loan. I lived there for a few years, and then my mom, then my daughter. It's been in our family for 40 years, and the tax was paid all forty. The powers that be would love for me to sell it so the folks who buy it pay the tax rate based on today's price. I don't know that I could justify keeping it if I had to pay that rate, given the rent it generates. One less rental on the market. And something my family paid on for four decades gone. Nope.

19 was a screw job. Falsely claimed it was about helping old timers and fire victims when it was really about getting rid of the PT break on inherited property and raking in millions. Hell, they should have at least had the integrity to say what it was.

I don't have to dream of how SF looked in the sixties, I remember. I think a lot of it was something worth saving.

I don't have an equity loan and I bought the other properties I own. I did so because I knew I could afford them, and also afford the tax. People who buy today should also know they can afford it. Forcing people to move or sell by jacking up the PT is BS.

Or you could look at it as the fixed property tax set by prop 13 originally is the cause for inflated real estate prices. If the property value goes down, then your tax payment also goes down and vice versa. Problem is any new investor has to pay taxes on the price they paid for the property. So, the older generation and their offspring gets a free ride, while anyone else trying to move up has to pay for everything. The city fights hard to prevent new development so that the older generation can supposedly keep it looking like how they dreamed it should look back in the 60's, but really it's because they enjoy living off of equity loans on their hyper inflated properties. We will see if prop 19 motivates anyone to cash out and relocate elsewhere. I'm no philanthropist either, if I had property inherited from my parents in the city, no way would I vote for 15.

 

[waxhead]

20 years ago I didn't have any tenants. In 2006, after 25 years in business, I got lucky and bought a commercial building at auction. I rent out a 3rd of it. Last tenant went broke. Took a year to get a new one. One before that I had to evict cause he was growing weed. When my mom passed I inherited half of her home. Not rich but feel very fortunate. 40 years at the same gig. Took 20 of them before I made any money. People think natives inherited their homes. Not my friends. Sunset was lower middle class at best.

Serious question,

How much have your lease agreement rates gone up (In otherwords: How much were you charging tenants 20 years ago vs. now?)


How/What operational expenses have increased in the last 20 years?

 

[waxhead]

Buddy of mine has a condo near the ballpark. Can't rent or sell at the moment with out taking a hit.

Edit:



1 Used to work with a guy who owned a home in the Sunset. He sold in late 90s, convinced the housing crash was coming in a two years, and he would buy back then. He ended up having to move further and further away from work and then quit due to the commute. Prices never came back down...they flattened for a while in the early 2000s and then again in 2008/2009. CV-19 has reduced rents and some condo prices, but ownership prices?

2 Retired SFPD across the street says the union tells all retirees not to sell and bug out of the City/Bay Area within a year of retirement. "Go try out out a new place before you sell or move out because it will be very costly to move back if you change your mind." Or course this 'one size fits all' advice is rarely true for 100% of people, so, you pay your $, you take your chances, and live with the result.

 

[Bob Dobbalina]

20 years ago I didn't have any tenants. In 2016, after 25 years in business, I got lucky and bought a commercial building at auction. I rent out a 3rd of it. Last tenant went broke. Took a year to get a new one. One before that I had to evict cause he was growing weed. When my mom passed I inherited half of her home. Not rich but feel very fortunate. 40 years at the same gig. Took 20 of them before I made any money. People think natives inherited their homes. Not my friends. Sunset was lower middle class at best.

So you've been a commercial property owner for 4 years? Or you owned a building, then bought another one?