Calabasas, CA Flip 2012

In 2012, I completed a rehab flip of a million dollar plus luxury property here in southern California. Here is a link to the video I did after repairs:

http://youtu.be/muqiBvyNuak

Since my BP blog was lost, I am making an attempt (as time permits) to re-post as much of what was lost previously.

Here are the numbers of this project: $600k purchase price, $210k rehab, $1,175,000 sold price (just $25k under my target price but it was contracted within 30 days and total hold time for entire project was only 6 small months). After resale costs, lender costs (borrowed entire purchase price at 12% with private lender), and holding costs, the net profit was $221,000.

This was an REO purchase and a full and complete gut and remodel, including new stucco, moving some interior walls, building a new staircase, plus all the other trimmings.