Hollywood Bungalow Restoration Flip and Keep
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $350,000
Cash invested: $50,000
Bought and restored a historic Hollywood bungalow.
What made you interested in investing in this type of deal?
Having a part-time rental and home in Los Angeles.
How did you find this deal and how did you negotiate it?
Found on zillow. It had been on the market for almost a year. Nobody wanted it because it looked terrible and didn't have a parking spot. Did some digging and found it did have a parking spot that not even the owners were aware of. Made a lowball offer and they accepted.
How did you finance this deal?
Kiavi hard money for 12 months then used equity from the hotel in Marfa to pay it off.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Kiavi hard money lenders were great. Robert Clore was my agent, but I think he's moved up at the company.