Anybody with experience in the area flipping properties?
We're looking at a SFR fixer deal about 2.6 miles to the beach, needs updating will delivered vacant.
Has un-permitted addition, once permitted will add 230 extra square feet to this 2 / 1 property converting it in a 3/1.
I don't have flipping experience, but I know that market intimately. I would love to take a look at the deal and just add my two cents!
@Matthew Forrest , thank you for your response. I'll send you a PM in BP with the deal details … since it may get flagged by BiggerPockets thinking I'm soliciting a purchase.
Better area to flip is San Pedro. Undervalued coastal property and about 1billion investment in multifamily projects being built in the next 3 years. Houses can be bought in the 400K range and no doubt can be flipped for 600 to 700 or more
Thank you @Mo Brentwood for the info, great to know. Are you actively investing in San Pedro yourself?
@Eduardo Slesaransky I am invested in the LA area as well! Would love to see what you got going on there as a flip! Typically coastal areas need different materials due to weather/environment conditions. However, I think you are far enough not needing it haha
@Mo Brentwood I do like that area as well :D its undervalued
@Euardo Slesaransky A big part of the flipping business is your plan for capital access. If you have any questions about this feel free to reach out.
@Eduardo Slesaransky Good stuff, that's unfortunately for the heirs. Hopefully, you guys can work something out. Sometime lien holders will settle for less if negotiated. Just another thought.
Thank you, we're looking forward to make this work.
@Mo Brentwood I know you mentioned San Pedro. What other areas are hot in So Cal for multi home. I’m out in the inland empire. Upland area
Gonna have to agree with @Mo Brentwood
Redondo is kinda risky right now as I think its closer to a peak. If you're looking South Bay San Pedro is the only sane option.
Thank you all for your input. Is it risky even for ground up development?
Have access to R3 vacant lot and was wondering if thats the way to go.
@Eduardo Slesaransky I'm curious to hear about your R3 vacant lot in RB.
Hi @David Gwilt , I just sent you a message about the vacant RB lot.
@EduardoSlesaransky - is the medial (or Medi-Cal) lien an issue with the DCHS? or is it a private lien? Also, are you purchasing from that same party i.e. the one who has the medical lien? I'm a
Trust attorney and deal with these issues with some regularity
Hi @Matthew Yu ,
Sorry for the long reply.
The lien was from a previous title holder of the property who quit claimed it to the current seller, and she passed away and passed along the lien to the seller, unbeknown to her.
Fortunately transaction closed.
@eduardo slesaransky That is what I do as an attorney. If you come across this in the future, don't hesitate to call
Hi @Trevor Phillips , are you looking for someone to work on a project with you?
Hey guys, does anyone have any experience with rehabs in Whittier? I have a property I'm looking at 475k range
Hi @Leeron Regev , if you can elaborate a bit more, maybe we'll be able to help you out.