Fix and Flip in Los Angeles
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $800,000
Cash invested: $250,000
Sale price: $1,500,000
Purchasing a single family home and adding value by building an ADU, remodeling and selling
What made you interested in investing in this type of deal?
I am a general contractor and studied civil engineer and my interest in SFR made me do this deal.
How did you find this deal and how did you negotiate it?
I have an agent who works closely with me and I have outside market research
How did you finance this deal?
Conventional Loan
How did you add value to the deal?
Building an Additional Unit and remodeling the main house
What was the outcome?
Sold the property
Lessons learned? Challenges?
Learned about budgeting and challenges facing during construction
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes