Flipped my first house in San Diego

23 Replies

I have been a buying and holding SFR in San Diego for the last 10 years and decided to try to do my first flip. I bought the house in Lakeside for 350k. I spend 70k to fix it up and sold it for 519k. The rehab took a little long. (over 4 month to do) I am now having a really hard time finding my next deal. Hoping i can find another soon. If anyone has any advise on how to find my next flip please let me know.

 Attached are a couple of photos.  

  

Awesome David, it looks great! San Diego is a tough market right now, got to be quick! If you ever are in need of financing I can connect you with a great private money lender who works with lots of contractors to fund fix and flips. I'm also an agent if you ever need one feel free to send me a message. Good luck!

I would also try the guys at NetWorth Realty, they wholesale fixer properties.

Wonderful!! Love this

@David Morrison very cool thread! As you know I am also a Southern California member looking for my first flip in socal San Diego county riverside county. Any tips pointers? I feel I will have to make offers on tons of homes because of the market.  Did I do the math right on your project almost a 100k profit? 

@Robin Boyer , expect multiple offers, in most cases 10+ on any fix-and-flip property in West San Diego County...at least from the coast to I-15. I'm not very familiar with the market further inland.

@Brian Murkland yea I can only imagine I'd love to pick up a property by mission bay. Let's talk on the phone tomorrow perhaps if you have a few moments.

No I made less than that. I Paid 4% commissions and closing costs. All in all I was happy with it.

@David Morrison awesome! Hope to walk in your footpath soon I'll have to buy coffee sometime!

@Robin Boyer private message me with some details about yourself and what youre looking to do.

Congrats, David!! How exciting!  

I know everyone feels how tight the market is out there right now. However, I see and am funding rehab deals every day, so don't be discouraged. It may take a bit of effort, but they're definitely out there. I would suggest going out and networking as much as possible. It definitely pays to get your name out there and develop relationships.  =)

Good luck on your search for the next project!

Lina

I have a few fixers if interested, they are duplex

@Donna Patino

I was born in Fullerton! I would love to connect, I'm looking for of market fixers.

@David Morrison Congrats. Did you do all/some of the work yourself? or did you hire a GM?

Hired GC for almost all of it and I worked a little bit as well.

Nice! and you still made great money. good job, I hope to do something similar in my neck of the woods.

@Donna Patino I am interested to see what you have and tell you were I am in my investing path! Let's connect!

@Jason White I am also looking for deals let's work together we can share what we know and learn from each other in this hot challenging Southern California market. My contact is on my page. 

Lovely job. In this market it needs to knocked out of the park. Looks like you did this

@David Morrison congrats on the successful flip! How did you go about finding the GC that you used if i can ask? Just a general search, recommendation, previous relationship?? 

I have known my GC for 8 years. He takes care of my rentals. Does good work.

@David Morrison , nice work. The house turned out beautifully. The market is tight right now, as has been mentioned, but there are a lot of investors still picking up deals. Several that I'm seeing right now are the investors picking up smaller houses on the MLS and adding square footage. Best of luck.

Hello everybody . It’s crazy I’m only 24 but I’ve been saving every little dollar up . I’m looking to hopefully close on my first apartment unit in Texas within the next year . But I’m still All new to this I would definitely like somebody to lookup to you know . Thanks

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