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Target 4122 12/2/22


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Thanks all for the welcome.

I have been a reader, off & on, for many years (way, way back), but came back last year as the markets were looking massively bloated again.

I enjoy reading all your posts and having a sense of comradery, it aint easy being a bear!!!

Good luck!

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5 minutes ago, DrStool said:

I live in Le Port district. It's wonderful. But so is the center of town. Mt. Boron, Cimiez, and further up in the hills have fantastic views, but are boring. Cannes, Villefranche, and Menton are also great, and there's a newly renovated train station at Nice St. Augustin that is a short walk to the airport. 

The more distant reaches are too boring for us, too. The old port or your Place du Pin are the right distance from the old city: close enough to walk to the daily market for fresh produce & restaurants, but far enough away when you want respite from the hustle/bustle. 

The wife & I rented a flat a block away from the bottom of the Crooked Street in San Francisco before kids. We could look out our window and see a gaggle of tourists snapping pictures from 7am until midnight.  I loved the energy of tourists enjoying a locale: there's a simple joy to it.

The place had been in the landlord's family since the 1940s or something. Nice guy who lived in SoCal. I asked him once before committing to moving out whether he had any interest in selling the building, without much idea of how we'd finance it: we just loved the place and the views. He laughed, but said no: his tax basis was nothing and his rent-roll was fabulous. There was a mountain of deferred maintenance on the place.

I would guess he died this year, because the place came on the market for the first time about 4 months ago:

https://www.redfin.com/CA/San-Francisco/2223-Leavenworth-St-94133/home/1152701

The wife & I bought some lottery tickets, with this place in mind.

Obviously we didn't win....

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16 minutes ago, Jimi said:

The more distant reaches are too boring for us, too. The old port or your Place du Pin are the right distance from the old city: close enough to walk to the daily market for fresh produce & restaurants, but far enough away when you want respite from the hustle/bustle. 

The wife & I rented a flat a block away from the bottom of the Crooked Street in San Francisco before kids. We could look out our window and see a gaggle of tourists snapping pictures from 7am until midnight.  I loved the energy of tourists enjoying a locale: there's a simple joy to it.

The place had been in the landlord's family since the 1940s or something. Nice guy who lived in SoCal. I asked him once before committing to moving out whether he had any interest in selling the building, without much idea of how we'd finance it: we just loved the place and the views. He laughed, but said no: his tax basis was nothing and his rent-roll was fabulous. There was a mountain of deferred maintenance on the place.

I would guess he died this year, because the place came on the market for the first time about 4 months ago:

https://www.redfin.com/CA/San-Francisco/2223-Leavenworth-St-94133/home/1152701

The wife & I bought some lottery tickets, with this place in mind.

Obviously we didn't win....

The market in Cours Saleya is a tourist trap. The real market is in Liberation, along Ave Malausenna tram way.  (extension of Jean Medicin) and around Place General de Gaulle. It's awesome. But believe it or not, the best produce is in the supermarkets. Some of the produce vendors are shysters. 

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From April through October, Nice has the holiday tourist feel. The place is just packed with visitors from June through September, and the shoulder months are almost as busy. It's a lot of fun. 

Another great thing about owning a nice apartment here, you can arbitrage your apartment for a vacation almost anywhere else in Europe, virtually always for less than you're getting in rent from your apartment. In some cases, much less, such as if you go to a Baltic Sea resort, or Slovenia or Croatia.  That's seaside. If you go inland, it's even less. You could tool around beautiful central Europe, even in France, all summer and come back with more money in your trading account than when you left. For people like me, on a little bit of a budget, it's a nice perk. 😉

As for produce, there's a fresh produce stand about 120 meters from my door. Place is always busy, and the produce is cheaper than the supermarkets for most things, but not all. But it's cheap for a reason. I figured out after throwing shit away once or twice a week, that the guy buys lower quality merchandise. So I stopped shopping there. The Halal butcher shop/convenience store right across the street from me actually has better fresh produce, and his prices are competitive. But the best quality fruits and veggies are at the Monoprix, Carrefour, Casino, and Utile. There's also an ALDI just a few blocks away. Produce is always good there, and really cheap. Another discount chain on the same block is Netto. Haven't tried it yet. 

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I know... I know...

I know what you're thinking: "21,000 sqft permit... holiday-farming pikers. What's that for: cultivation of one's own annual stash?"

Well, if you need a larger property for a larger farm for a larger harvest, the property for you has just appeared in the last 17 hours!

80 acres (in the form of two 40-acre parcels) of NorCal emerald meadows, a couple structures, six greenhouses, onsite wells, seasonal creeks and....

Quote

Property benefits from 53,000 sq ft cannabis cultivation permit (37,000 sungrown & 16,000 mixed light). 

https://www.redfin.com/CA/Blocksburg/80-Stewart-Ranch-Rd-95514/home/183127048

Now, we're talking! The economics are clear: figure 53,000 sqft equates to veritable bushels of harvest, and the wholesale price per bushel has got to be, I dunno, a lot even with price distress. Back out the costs and you will be left with enough for... your own annual stash?

 

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2 hours ago, TurdButter said:

Thanks for the greetings!

And I too was here back in the Stooliolithic era. I remember as far back as YoBob, Bareister, Wyndy,Simple Guy, LeeWhee, KWR,etc. And Soup was hilarious-and occasionally concerning.

Yeah YoBob was the one from Idaho whose handle escaped me ...

Bearman was another concerning one .. think he had a howitzer mounted on his front lawn!

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3 hours ago, Jimi said:

The more distant reaches are too boring for us, too. The old port or your Place du Pin are the right distance from the old city: close enough to walk to the daily market for fresh produce & restaurants, but far enough away when you want respite from the hustle/bustle. 

The wife & I rented a flat a block away from the bottom of the Crooked Street in San Francisco before kids. We could look out our window and see a gaggle of tourists snapping pictures from 7am until midnight.  I loved the energy of tourists enjoying a locale: there's a simple joy to it.

The place had been in the landlord's family since the 1940s or something. Nice guy who lived in SoCal. I asked him once before committing to moving out whether he had any interest in selling the building, without much idea of how we'd finance it: we just loved the place and the views. He laughed, but said no: his tax basis was nothing and his rent-roll was fabulous. There was a mountain of deferred maintenance on the place.

I would guess he died this year, because the place came on the market for the first time about 4 months ago:

https://www.redfin.com/CA/San-Francisco/2223-Leavenworth-St-94133/home/1152701

The wife & I bought some lottery tickets, with this place in mind.

Obviously we didn't win....

Love the building but there's no privacy: seems like every window has a zillion neighbours' windows looking back at you ..

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