Inside the exclusive multimillion-dollar San Francisco street that a couple bought for $90,000

[@Jp-dq9ye]

I bet you if any person who lived on that street would have thought of the idea first they would have done it. Hypocrisy at its finest.

[@drinkingpoolwater]

Can’t knock the hustle. That couple are geniuses.

[@pearlbubbles6885]

drinkingpoolwater guess they are not that smart, have a go find me bumming money to pay the attorneys fee. But you probably are happy about that too.

[@homewall744]

Pay your taxes. Pay attention when the land you sit on is being auctioned off. How they all missed this is a bit much, including the association that stopped noticing it wasn't paying an annual tax, but probably thought they were getting away with something small that nobody would notice, but then they failed to notice it being sold out from under them.

[@spencerreed960]

are you fucking kidding me? this couple was probably scouring the auction listings for something like this to come up. it's essentially a scam for the homeowners who have much better things to focus on career wise.

[@Keaton0801]

Spencer Reed it is not a scam, this is what happens when you don't pay taxes, welcome to reality buddy.

[@spencerreed960]

my taxes pay me

[@crecasens]

Yes, it isn’t a scam. It was perfectly legal. And who cares if they watch the auctions. That is the EXACT same thing that small developers do that flip homes! And if the rich have better things to do one of those better things would have been to have the HOA follow up with the city as to why for the last several years they have not received a tax bill? If my, property tax bill gets sent to the wrong place I can’t tell the county to waive my penalties for the last three years because I never received the bill.

[@Jen-lc5yc]

@@spencerreed960 pretty much. I don't feel sorry for these two either. They had a GoFundMe page to raise 50k for their legal fees. They only raised 5k. Ppl saw through their scam too. Even though its technically legal to buy property delinquent on taxes, these two tried to sublet a street for the tune of 1 million dollars. They are not victims.

[@BananaTrades]

They can't afford to buy a house there so they bought the street instead. Neat.

[@kcalb3180]

with $90K cash to own a Street in the Presidio and the knowledge to such auctions, you seriously think they can't afford to buy a house? really? Never under estimate the Chinese.

[@lianithomasprewitt2428]

KCALB *Taiwanese

[@chipotlelover69]

@@kcalb3180 why are we generalizing people here?

[@KHMakerD]

Rich people shaking each other down. That's the reality TV I would watch.

[@Romulus2099]

Poor Rich People :(

[@reynaldocarmona6039]

Nico Romero lol

[@MarinaDiamandis4Ever]

Nico Romero 😁

[@Vylphix]

Nico Romero "I have a multimillion dollar house, oh dear, I can't pay these one thousand dollar taxes"

[@marquamfurniture]

Don't let your contempt for 'rich liberals' get in the way of reading or comprehending the whole story. (But you're OK with rich conservatives? Just asking.)

[@jonathancoy5542]

Nico Romero I know! They wanna own the street! Not pay taxes to someone else!;(

[@Joe8620]

Good! Now tax a shitload of money from them. As well as setting up a toll at the front entrance and charge a fee for going in and out. Make them feel what we feel. Lol #SorryNotSorry

[@fergman300]

that Iron gate, would become a toll gate if I owned it. Good job on finding a gold mine in San Francisco.

[@HowieIsaacks]

I have zero pity for the people living on this street. Their HOA is at fault even if the notices were sent to the wrong address. If I don't get my electricity bill for several months, I don't just assume I don't owen anything. If I complained about getting my electricity shut off for non-payment, telling the electric company that they were sending to an outdated address won't fly. And it shouldn't for this HOA. These people are rich. They should buy back the street, and be done with it.

[@pearlbubbles6885]

Howie Isaacks they offered the greedy couple $200,000.00 but they want $1,000,000.00. I hope they lose their investment.

[@crecasens]

Why are they called greedy? Are you kidding me. 1,000,000 for a street that has multi-million dollar homes? No, one is this outraged when the poor people Down in the East Palo Alto had the multi million dollar apartment a real estate company come in and buy all of the low income buildings and start a evicting people for being one day late on their rent or even $.75 short? These rich people’s HOA was YEARS late and knew that it had not paid a property tax bill! Americans have to get over this idea that wealth makes inherently good and righteous while poverty automatically means you’ve done something wrong in your life and are being punished so whatever bad happens to you it’s just happens. 🤷🏼‍♂️

[@Jen-lc5yc]

@DrinkwithaMexican thats also common in Nantucket & Marthas Vineyard Islands. Inherited, can barely afford to maintain.

[@wateri4]

Bunch of rich people didn't pay for property tax and this Asian couple payed for it and said they are gonna make them pay. What's wrong with that. These rich people didn't pay taxes . Karma is a bitch

[@Unknown-si8yx]

wateri4 its only $14 a year I'm pretty sure they wouldvd paid it if they knew

[@Keepedia99]

Don't step out of your house. THIS IS TRESPASSING

[@zoubida72812]

hahahahahahahahahaha, good 1!! :)

[@mithrinwow]

Hilarious. Rich people get screwed and they're mad about it. It's funny how the tables have turned.

[@RichardMillsrondasgoogleplus]

If they are multi-million dollar homes, why do they need to park their cars on the street?

[@RaymondHng]

Richard Mills What makes you think they only own one vehicle?

[@theuglykwan]

They don't seem to have driveways

[@adc2327]

I know this area. This is still the city, not the country. These are older houses, built before the phenomenon of families owning in multiple vehicles.

[@Ang.0910]

I live in the city. They definitely have garages and driveways. It’s just easy to park on the street when you multiple cars and/or friends/family coming over. This is completely the HOA’s fault and they had notice to fix it but didn’t. Now they’re crying about it. Update: the couple sold the street back to the city for around $150k a couple years ago if I remember correctly.

[@ggarzagarcia]

Now THIS is what Business Insider is all about!

[@Finians_Mancave]

Suing the couple on what grounds? The only party that screwed up was the Homeowners Association. And what an idiotic move by the residents -- suing the people who can now charge you a toll fee for coming and going. Hahaha! This is going to get ugly... If the couple should decide to start charging for access, the residents don't have many options. They can pay up... or try and buy back the street... or make the HA buy it back. Either way, the residents are going to be out additional $$$$.

[@kokoadam4546]

The street has been given back to the homeowners already

[@zarius6363]

*Update:* The couple offered to sell back the land to the residents for $1 Million but the San Francisco Board of Supervisors voted to reverse the sale altogether (surprise, surprise). The buyers got their $90,000 refunded but are now suing the city. They have set up a GoFundMe page with a goal of $50,000 to finance the legal action. You may now put your money where your mouth is at: www.gofundme.com/presidioterrace

[@mickdavis2385]

Looks like they tapped out at $5k

[@JH-cq5dl]

Start selling easements for access! Street parking... that'll be $1,500mo., or your towed! So many opportunities given that situation. Homeowner's are gonna be livid when they finally understand this type of thing is totally legitimate, and their screwed. Nicely played!

[@JH-cq5dl]

After giving this a second thought... think I'd put up tasteful concrete barricade, and make the rich pricks walk. Sure would be hilarious watching them make trips carring in groceries! Heard their pretty health conscious anyways. Karma can sometimes be so awesome. :)

[@theuglykwan]

You're quite evil but I like you! lol

[@elchicodelapartamento5123]

theuglykwan not evil just poor bitter

[@brianbradburn]

Why wouldn't they just park in their own driveway's?

[@pearlbubbles6885]

J H just because they have money ??

[@jonitan76]

in my country, no body can own a street /road. especially when the developer, or comunity had built the road for the people who lived there.

[@Keaton0801]

Djone Tan not in America, if it was not funded by tax dollars or sponsored by that local, state, or federal government, it is up for anyone to own if they are willing to pay for it.

[@chipotlelover69]

Well ur opinion is wrong

[@jussayinmipeece1069]

the should charge a toll. Issue an electronic pass and it must be swiped whenever a vehicle enters or leaves. Also they should charge parking fees for every vehicle they own. The should also charge for security and on top of that a separate usage fee and it all should come with a hefty monthly administration fee.

[@Rockport1911]

Took me a while to realise these are Google Maps 3D images...

[@CcPhantastic]

Why would HOA sue the couple for buying the street from City? How’s it their fault? If anything it’s between the HOA and the city. The couple should counterclaim HOA for attorneys fees and ridiculous time consuming lawsuit.

[@mistersir9993]

I'm happy for this lady

[@dudelivestrong]

I'm not sure why people want to live this close to each other

[@tommylaudani1378]

dudelivestrong exactly what I was thinking

[@Keaton0801]

dudelivestrong yeah I would never live that close in a city, I want at least an 1/5th of an acre between me and my next door neighbor.

[@RobinsM]

Its the city not the suburbs.

[@g.e.r.a._.j]

dudelivestrong For the use of space and how compact and close to everything is. Plus, SF is the second most dense city after NYC.

[@theuglykwan]

It's a comment like this that makes you realize how much space Americans have. That is considered quite alot of private space here.

[@blackhole-gz7mg]

Ladies and gentlemen why the hell are you crying over this? shouldn't most republicans and corporate Democrats be happy? this is capitalism after all:D

[@scc6609]

these people knew they had to pay these fees but i guess this is how you stay super rich haha good for these 2 couple hope they win the court battle and then counter sue them for wasting their time and money on lawyers

[@wino0000006]

This is why streets should be public.

[@terrimcwilliams852]

HOA are good at pointing out things wrong so they can change the homeowner but failed to pay a tax they owed. Priceless.

[@Christof708]

Love it! Sell it back to them for 100 million! pay your taxes people!

[@zacharyparis]

rich people problems.

[@softwater88]

Ha ha, homeowners!! Got a little too cocky!!

[@Jen-lc5yc]

So basically they bought a street on the down-low, tried to sublet it to the neighborhood residents for cold hard cash to the tune of ONE MILLION DOLLARS? 😂😂 They thought this would work?

[@missjay04]

Rich people problems

[@cerebrumexcrement]

Just buy back the street. Not that hard.

[@GudInformation]

Sue Them For What? What They Did Is Legal And Allowed. They Are Just Pissed Off They Are Idiots.

[@MrApplewine]

They should put a toll to drive on the road and say it is to raise funds because they are being sued by the home owner association. Charge a $1000 toll each time a vehicle enters or exits.

[@titan8084]

why would you sue people for owning a street?

[@hououinkyouma9438]

Why the fuck was it sold for $90,000 when it should be worth millions?

[@dreamer9913]

Hououin Kyouma! Because the taxes owed amounted to $994. So they auctioned it off to prospective buyers. No one beat their bid of $90,000. So they own what they bought. It's like multi million dollar homes selling at foreclosure auctions for $300,000. You pay whats owed of the property plus extra bids if necessary. That's how these things work. Do some research.

[@hououinkyouma9438]

I'm aware of these facts. What I don't understand is, why didn't the association or some outside organization/person try to buy the road. It just baffles me that such a wealthy neighborhood association wouldn't immediately buy back its only road access.

[@MrApplewine]

Wait, didn't they just give them the option to pay the back tax first? This also proves it is illegal to own land. They were just renting it from the government.

[@canadianbird1185]

I wish that street and it's residents, including the couple, just loose a ton of money.

[@MassDynamic]

how the hell did the people living on the block not know that their street was getting auctioned off? what

[@ernieenesi6260]

Congrats to the couple for beating everyone else to the punch!

[@romyan5382]

"Perisidio terrace" GG video editor.

[@hd-xc2lz]

Paint purple, blue and orange stripes on the street, altering their direction month to month, until the homeowners fork over the million requested.

[@fiona112684]

Silly spoiled rich folk Sue the couple and the city The couple bought the joint at a city auction And the city auctioned it cuz of back tax It's funny how rich people think they should never be touched Sue the homeowners association That's the only liability in this whole thing How you gonna sue me for buying something at a city auction Rich people get mad when outsmarted

[@RaymondHng]

0:45 Dianne Feinstein is a United States senator for California, not a California senator. I have been inside that house before. It's very nice.

[@SongSydney]

Someone at the City wanted to expose the situation that could not be corrected at their paygrade and embarass the homeowners badly. The Asian couple served as tools.

[@evitasdad]

"Suing"...the American answer to everything.

[@Nenaaap]

Why make a video if I have to read the text? Thumbs down.

[@Senator107]

Illiteracy can be overcome. Have faith.

[@SOS-ct9mv]

They need up having to give the street back, i'm not sure if they sold it back or not. A complete bummer but great story.

[@J.Artan6]

The rich folk forced a reversal of the sale…to no one’s surprise.

[@nz6241]

LMAO

[@nipnipnip7508]

Lol. Fair play. Hope tney double their money. They were in the ball. If the home owners care they can get together and buy the land back.

[@Kwandike1279]

The home own association did pay it taxes for 30 years. It was just a few years 30 years. You should be mad at the couple you should be mad at your home owners association for not too g it job a keep up with it record.

[@jasonc8307]

This is all a bunch of b*******. They got lucky or were chosen. In a public auction there should have been hundreds of potential buyers. The $90,000 sales price is unexcusable actually. You don't think that there were any wrongdoings with this deal. You guys are so far out in left field there's no way.......... this could have auction for a higher price.

[@siluetboi]

It's real I live in San Francisco, some people say they have family in the local government and maybe they tipped them off about the property

[@rogerfaint499]

There are people who always browse through auction columns for good buy. I bought a 3,500 sq ft office in prime area for $660,000 when the office was auctioned off by a bank. Now, its valuation is above a million.

[@I.P.Phreely]

Good for them!

[@ameskelis9770]

best 2 min and 5 sec ever

[@jhk1244]

the couple lost the exclusive street anyway, rich people prevailed again!!!

[@erin19030]

You are breaking my heart. Just keep one thing in mind...paybacks are hell!

[@stchew49]

Wise buy but what happened in the end? I hope you get to keep the street! Do you have a right to charge a toll? Please update us!

[@kevinl6231]

Parcel off the street to each resident and sell them for a million each. What’s a million to rich people.

[@bbsara0146]

If just fly in from another state before I pay those prices LOL

[@Ang.0910]

Funny how the HOA is during the couple and the city after THEY didn’t pay their own bills. Now they’re crying and throwing a tantrum. My my how the tables have turned 🤣 Btw the couple doesn’t own the street anymore

[@dingecibbs]

What the hell? They bought the damn street? First time for everything.

[@zombieluke115]

Im about to buy my front st too

[@smallfaucet]

That's BS, the people that bought that the street are like predators........like buying debt.

[@pearlbubbles6885]

Hope the couple goes to Chicago and buys a private street !

[@JW-mx3qg]

they are suing the couple? Great! Hope the losing party pays millions in bogus fees, lawyers fees, pain and suffering . The couple invested in a legal business transaction. If they claim that the hoa “paid the taxes” then who cashed the checks? If not the city then the homeowners should be suing the HOA for either fraud, incompetence,or plain stupidity.

[@Bev4Drawing]

Failed to pay property taxes for 30 years? Yep. That's what you get. Not like you don't got the money.

[@jarrodyuki7081]

they exploited a legal loophole to get the street.

[@echad6259]

I wouldn't shake hands with anyone from San Francisco.

[@Daniel-xp1jy]

Echadh why not?

[@echad6259]

Daniel lol! Do yourself a favor and Google it.

[@Daniel-xp1jy]

Echadh okay.

[@Daniel-xp1jy]

Echadh lmao Richard Nixon a Savage bruh.

[@echad6259]

Daniel lol

[@sibue015]

If this is true, I'd make it a toll road and charge a fee to park and drive on it..lol

[@ferdynandl4754]

And they changed it into a new china town

[@davida6146]

Good for them but I'd hate to be one of the homeowners

[@tadman3d]

So they did the city fail to send them a “pay us or else notice” ?

[@Photomonon]

More proof the state of this country on the whole

[@ErnPrivado]

they should have a parking fee $500 for 1 hour. chaching!!!!

[@horsucksnfuckfree5836]

Love this

[@DC...]

Why sue the couple, just sue the city and void the deal. Then give them back the 90k lol

[@jonitan76]

Dust Cloud, no way it will be auction, they will sell it minimum for 1 million usd.... pay the rent or 1 million usd. lol

[@NELOPES7]

Ooohh wow !! Very cool story

[@zoubida72812]

They are suing the couple for what??????????

[@iangreen7440]

all the homeless should move in

[@fabriceizzo2922]

They should sell the house. They better not live that neighborhood. However, with a good lawyer the original owner could get his or her house bad.

[@larrykay6606]

At 1:11, you spelled Presidio wrong. "Perisidio".

[@ezralimm]

Why the F. is my body corporate (HOA) fees USD1400 for a 25sqm shoebox in Melbourne Australia. (the apartment has no amenities other than a lift).

[@jarrodyuki7081]

thats why i want an ai to manage all my financial and legal affairs. all millionaires and politicians should have personal ais to help them with their affairs.

[@captain99p39]

I would collect a hefty toll at the front gate both in and out good for them

[@moiraswife]

The guy in the thumbnail looks like a Chinese Chris Chappell. What is this conspiracy?!

[@ruzzelladrian907]

Welcome to Wisteria Lane ( music )

[@jarrodyuki7081]

millionaires should have ai's like jarvis or friday manage their financial liabilities so that this doesnt happen.

[@abc123fhdi]

That’s why I don’t have an hoa or escrow account.

[@jamesfreeman7954]

Good for the couple :) Also, how do these politicians aka "public servants" have so much money to live in a multi million dollar home when majority of SF who vote this people in are living on the streets 😂

[@vsboy2577]

Shows how evil the irs is

[@RaymondHng]

vsboy 25 This has nothing to do with the IRS. The San Francisco tax collectors office is the organization that receives the tax money from property taxes.

[@dhl1288]

Why sue the couple lol. Its thier fault for buying into an hoa that didnt do what it was supposed to. They paid thier hoa dues presumably and the hoa didnt pay thiers of they owed the city 994 and the common areas were sold for 90000. Just lol

[@NevrrPresntt]

Hahaha you now they're only suing cause they didnt think of it any sooner 😴😴😴

[@barrytelesford5244]

The flaw of capitalist countries

[@jg.9694]

What are they gonna she the couple for they brought it legally.

[@breezey64]

The privileged throwing a tantrum.

[@Ranger6483]

Pay them

[@chigasaki06]

Awesome, LOL!

[@OutSideTheBoxFormat]

I'd put a toll booth at the entrance and charge $20-$50 for access.

[@zzzzzsleeping]

If you want play the rich game, don't come to us if you stricken by bad omen. Even if I have millions, i will stay away from a pretentious games