Montecito, CA Investment - $1.5M+ profit.

[Chase Barrett]

Hello, 

My wife and I are experienced contractors/investors in the Santa Barbara/Ventura areas. We are currently working two deals (one is under contract, the other is being negotiated) for estate properties in Montecito. The benefit to both of these deals is that they come with approved plans and permits cutting out at least a year of government red tape. We are looking for investment partners for one or both of these properties. I have included basics about each deal below. Here is a bit about us:

We have been flipping since 2008 and have been full time since 2010. Our portfolio includes more than 75 properties ranging from cosmetic touch-ups to complete new construction. We have a design aesthetic that is very desirable (constantly updating with each project and the trends) and has sold most of our projects pre-market and for over-asking. We are not "flippers" we are builders. Our goal is not to get in and out quick and slap some lipstick on the pig. We pride ourselves on delivering an exceptional product to the market in an efficient manor. Since the beginning of 2015, we have sold more than $6,000,000 in assets and currently have 6 assets under management with a market value of approximately $8,000,000. 

Montecito Project 'A' - demo 85% of existing structure, rebuild, relandscape with approved plans. 

Acquisition price: $2.25M

Construction costs: $1.5M

Commissions, Carrying and Closing Costs: $274K

Time to Complete: 14 months

Disposition Price: $5M

Projected Profit: $976,000 (26% ROI)

Montecito Project 'B' - complete new construction with approved plans and water allocation.

Acquisition price: $2.3M

Construction costs: $2.5M

Commissions, Carrying and Closing Costs: $375K

Time to Complete: 16 months

Disposition Price: $7M

Projected Profit: $1,825,000 (38% ROI)

I can be reached at (480) 323-6974

Thanks, 

Chase Barrett