Just Finished a $2.2Mill Georgian Colonial Flip in LA-Take a look

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My partner Zerik and I just finished our 4th rehab project since May of 2017. We really took a risk jumping this high in price point as our first 3 projects sold for $600k, $802k and $799k. We skipped over the $1M mark and went straight to a $2M+ home. But the numbers made sense and we really felt if we did some great work (and add our first pool ever), we'd get what we need to make a profit and have a great portfolio property going forward.

As many of you know, I've had a VERY stressful project over in the Jefferson Park HPOZ neighborhood, so this kept us busy while that one has been on hold. 

With that being said, I am so proud to announce the completion of our latest rehab project! This historical-registered $2.2 Million Hancock Park home is a reimagined contemporary design of an elegant early 20th Century Georgian Colonial, originally built in 1919. We've been working on this home since January and I couldn't be prouder of how it turned out. Take a look at the Before & After images below.

Nice work  !  something to be very proud of ... do a drone video as well or your pitch book !!!!  keep at it.

The house looks beautiful, very cool. Hancock park has some of the nicest architecture in the L.A area for sure. 

Would you be able to share the numbers on this project. Best of luck on the sale.

@Shawn Ward That looks amazing!  You and your partner should be so proud.  This is truly motivating to me as I'm currently working on my first flip that is minuscule compared to this but wowzers!  Keep doing great work.

Great job guys!  When I walked the comps this was a no-brainer for me and with Zerik's design aesthetic there was no doubt you would hit it out of the park, now shut up and take my money!

@Shawn Ward That is still pretty good! How much did you spend on the other bathrooms?  I'm trying to get my costs together for a rehab up here in Maine and trying to figure out averages for pricing on the bathrooms.  The rest I have down but I haven't had to significantly update one yet.

Originally posted by @Shawn Ward :

Oh yes @Joseph M. !  Here are the numbers:

1. Purchase: $1.485M

2. Rehab: $260k

3. Holding: $68k

4. Sell: $2.2M (Projected)

Thanks!

sjw

Hey Shawn,

beautiful house.

Can i ask you how long did it take from acquisition till resale and what was your final exit price?