Updated about 5 years ago on . Most recent reply
Quick Fix and Flip in San Francisco
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $860,000
Cash invested: $20,000
Sale price: $975,000
Purchased near the Pacific Ocean, beautiful view but outdated home. Refreshed the exterior - paint, new deck and fence, and landscaping. Fresh paint and staging inside with new hardware and lighting in the kitchen and bathrooms. Sold a year later.
What made you interested in investing in this type of deal?
Job relocation to the area
How did you find this deal and how did you negotiate it?
lots of searching and quick bidding; had all of the financing in order for a quick 15 day close
How did you finance this deal?
traditional financing
How did you add value to the deal?
simple fixes that attract buyers - changes that they can see that are low cost
Lessons learned? Challenges?
California is a brutal market. Getting labor or someone to help with larger projects is near impossible. At any point the market could crash and you're out hundreds of thousands.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Nick Delis - real estate agent