I would say a few investors are getting a little aggressive in the PB and La Jolla area. No chance at flipping this flip for $400k more but who knows the real reason they put it right back on. When the market is hot everyone wants to invest in real estate, many assume its easy, and those that don’t plan well will get caught long term. Need to be very cautious with expectations when flipping busy street properties.
I don’t see the owner of this beryl st property losing money, but if they truly purchased to flip I personally don’t see enough upside. Perhaps they were going to hold it for 10+ years as a rental but thought they would test this hot market…as I mentioned we will probably never know true intention.
