Real Estate Investor · San Diego, CA · Member since 2015 · 69 posts · 53 votes
My first time posting but this was a flip we completed earlier in the year. This property was a mess. Room additions made by the owner, some rooms were permitted and some werent, owner built an underground bomb shelter which was permitted, and basically the house was just pieced together like Legos. Originally it was a 6 bed/3 bath home. After we did the rehab, it was 4 bed/3 bath.
Purchase price was $380k. Rehab costs was $200k. Sold for $785k before we were able to put it on the market!
Architect · San Diego, CA · Member since 2013 · 244 posts · 101 votes
10y
wow, big transformation! It looks like you demo'd some of the additions to the front and reverted back to the original garage. Did you end up with less square footage than what you started with?
wow, big transformation! It looks like you demo'd some of the additions to the front and reverted back to the original garage. Did you end up with less square footage than what you started with?
From what I can remember the original square footage was 3165 and after demo we ended up at 3056 sq ft.
Real Estate Investor · San Diego, CA · Member since 2015 · 69 posts · 53 votes
10y
Sorry, all I have are the stairs leading down to it. It was such a small space for me to go down to and couldn't really take good pics of it. We did keep it and converted it into a wine celler for the buyers. You can see the "trap door" in one of the pics I posted.
New to Real Estate · San Diego, CA · Member since 2013 · 49 posts · 6 votes
10y
@Euan Arcia a couple questions if you don't mind...do you have a background in construction? And are you focused on one general area in San Diego or do you look for deals wherever you can find them? Thanksgiving advance!
Real Estate Investor · Rancho Santa Fe , CA · Member since 2016 · 323 posts · 107 votes
10y
Wow that was a very nice, profit margin sure was a lot of work but, I am not familiar with Del Cerro I live in North County. And only been living here for about a year where is that ?
@Euan Arcia a couple questions if you don't mind...do you have a background in construction? And are you focused on one general area in San Diego or do you look for deals wherever you can find them? Thanksgiving advance!
We specialize in the San Diego area. I personally don't have a background in construction but we have a contractor on our team.
Real Estate Investor · San Diego, CA · Member since 2015 · 69 posts · 53 votes
10y
Originally posted by @Account Closed:
Wow that was a very nice, profit margin sure was a lot of work but, I am not familiar with Del Cerro I live in North County. And only been living here for about a year where is that ?
Investor · Poway, CA · Member since 2015 · 7k+ posts · 8k+ votes
10y
It is a great rehab and you appear to have a great designer or design team. I like Del Cerro area. Lake Murray, Cowles Mountain, SDSU, convenient location.
My question is how did you find the property? Was it on MLS? Mass mailing? Drive for dollars? Other? Being in San Diego market I think hardest part is finding properties with such good opportunities. I think you did fabulous maximizing the opportunity that you found.
Investor · Anderson, SC · Member since 2016 · 13 posts · 2 votes
10y
@Euan Arcia What an amazing transformation! It looks fantastic! Someone got a really nice home because of your work.
If you don't mind me asking, what interior wall paint did you use? I've been reading a lot about this and had color tested the SW realist beige, but from the pics this looks more grey greige. Thanks!
Contractor · Hollywood, MD · Member since 2016 · 139 posts · 47 votes
10y
What an amazing transformation, your team did a fabulous job! Del Cerro is a great neighborhood for these types of deals, and you can charge extra for the view! Looking forward to your next deal.