Buy Now Pay Later Software Engineering' title='Buy Now Pay Later Software Engineering' />Rich Bay Area Residents Pissed After Two Genius Investors Buy Their Street. An enterprising couple from the South Bay was just able to purchase a neighborhood street from an online auction because of an accounting error, The San Francisco Chroniclereports. Now the neighborhood is worried about the ways the couple might try to cash in on the purchase. The couple, Tina Lam and Michael Cheng, who run real estate firm Archers Capital, bought Presidio Terrace, a one block oval street just northwest of downtown San Francisco. It is surrounded by multimillion dollar mansions heres the Google Street View, and up until 1. That is, a few decades ago, Tina and Michael couldnt buy a house on Presidio Terrace. Now they own it, and they might start charging residents for parking, The San Francisco Chronicle reports. The reason why Cheng and Lam were able to pick up the street has to do with an idiotic accounting error involving a cheap annual tax bill, as the local paper reports The couples purchase appears to be the culmination of a comedy of errors involving a 1. Its something that the owners of all 1. San Francisco are obliged to do. The attorney for the homeowners association says the reason why the bill hadnt been paid was because, since the 1. The result of decades worth of the city sending bills to the wrong address tallied up to 9. San Francisco decided to try to get back by putting the street and its sidewalks up for auction about two years ago. Cheng, a real estate investor, and his wife were looking for opportunities at the time, saw the street for sale, and jumped on it, dropping 9. The residents were pissed, and petitioned the Board of Supervisors to nullify the sale. One resident explained to The San Francisco Chronicle the shock that they, the citys wealthy, could be so rudely taken advantage of I was shocked to learn this could happen, and am deeply troubled that anyone would choose to take advantage of the situation and buy our street and sidewalks. How dare they, indeed. But Cheng could make cash on this, saying of the 1. We could charge a reasonable rent on it. The San Francisco Chronicle mentions that the couple wouldnt sell spots solely to residents of the neighborhood, saying And if the Presidio Terrace residents arent interested in paying for parking privileges, perhaps some of their neighbors outside the gates in a city where parking is at a premium would be. Well played. I called up Michael Cheng, and he told me over our brief conversation that he and his wife were just looking to buy any land in San Francisco. After looking at 4. What Does Adobe Camera Raw Downloader. Presidio Terrace. And while, right now, he has no immediate plans to sell the street he says hes just looking to understand the parcel, he did say charging for parking could be an option. Its no surprise that residents are pissed that they might have to pay for parking on the private street just outside of their homes. But at the same time, keep your damn mailing address up to datethis is like, the most pathetic financial error ever, right up there with forgetting to update an autopay after a credit card expires. These are the basics, people. Correction This story has been updated to clarify that the issue was with the homeowners associations accountants mailing address, not the citys. Back when Mercedes was using the reanimated corpse of Pablo Picasso as the head of design for the Unimog division. Amazon. com Teeter EP560 Inversion Table for back pain relief, FDA Cleared, 3rdParty Certified Inversion Equipment Sports Outdoors. Infor builds beautiful business applications with last mile functionality and scientific insights for select industries delivered as a cloud service. An enterprising couple from the South Bay was just able to purchase a neighborhood street from an online auction because of an accounting error, The San Francisco.