Berkeley CSUA MOTD:Entry 42303
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2025/04/04 [General] UID:1000 Activity:popular
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2006/3/18-20 [Reference/RealEstate] UID:42303 Activity:nil
3/18    Flipping a house? Buying something old and crappy, fixing it up, then
        selling it for a big profit? Screw that. Flip an entire town!
        http://news.yahoo.com/s/ap/20060318/ap_on_fe_st/ebay_town
2025/04/04 [General] UID:1000 Activity:popular
4/4     

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news.yahoo.com/s/ap/20060318/ap_on_fe_st/ebay_town
Nearly two years after he bought the tiny town of Bridgeville, Orange County financial adviser Bruce Krall said Friday he plans to re-auction the Humboldt County hamlet on eBay next month. "Due to family reasons, I'm pretty much tied to Southern California for the foreseeable future," Krall said. Bridgeville, a picturesque village with about 25 people on the Van Duzen River, sparked a bidding war in 2002 when it became the first town ever put up for sale on eBay. The property was eventually posted on traditional real estate listings, and Krall bought it for about $700,000 in May 2004. Since then, Krall said he's invested "multiple hundreds of thousands of dollars" to restore old buildings, remove dilapidated structures and clean up mounds of garbage. He also found new tenants for the houses and received a conditional use permit for a riverfront resort. "Now it's been fixed up, and I think it's actually ready to be sold on eBay." The information contained in the AP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of The Associated Press.