For $90,000, a Chinese couple bought an entire block in San Francisco. Here’s how they did it.

38 houses on one of San Francisco’s most prestigious avenues have been purchased by Tina Lim and Michael Chang. They currently control the neighborhood’s streets, sidewalks, a number of businesses and even its trees. They didn’t even look down the street before they bought it. It was auctioned off as part of a tax debt for the absurd sum of $90,000.

Китайская пара купила целую улицу в Сан-Франциско за 90 000$

In 2015, Tina Lim and Michael Chang were shopping in San Francisco when they discovered the affair. where the average home costs over a million dollars. In other words, the most expensive part of town was sold for around $1,000 in unpaid taxes, fees and fines. The winning bid of $90,000 was made by the couple without even viewing the property.

Китайская пара купила целую улицу в Сан-Франциско за 90 000$

Lam and Cheng have been trying to find a way to make money from the new acquisition for the past two years. In the end, they chose to establish an “acceptable” parking space rental rate. If the locals reject the offer, maybe other people who don’t live in Presidio Terras will find it interesting.

Китайская пара купила целую улицу в Сан-Франциско за 90 000$

Locals were only made aware of the issue in May 2017 after receiving a lease notice. Moreover, the explanation of why the property tax had not been paid for 30 years was even nonsense – the invoices were sent in the name of an accountant who had not worked at Ever since the 1980s, Presidio Terras. Predictably, locals were stunned, angry and, of course, went to court to try to overturn the auction results, which they hadn’t even been told about.

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