All Forum Posts by: Andrew Greer

San Diegos best networking event is headed to Cross Street Chicken & Beer on the 19th of April!

BrewRE Is back at It again and we are headed to Cross Street Chicken & Beer in Del Mar! Come network and connect with Investors, Realtors, Developers and the best Vendors In the business.

As always this event Is FREE to attend! If you are reading this you are Invited! Come network and hang out and enjoy a craft beer or even a cocktail this month!

Enjoy amazing beer and better networking at this monthly event!

Cheers,

Andrew Thomas Greer

https://www.eventbrite.com/e/b...

Come watch and learn as we walk through LIVE zoning analysis of 4-5 properties brought by attendees to review!

Real Estate Cheat Codes Is back for April and we are jumping Into some fun topics to start us off!

The density analysis we did at the end of the last event was a hit and I have had several requests just to do an event on live analysis, so that Is what we are doing!

What this entails; I will review In person what the density of property looks like for everyone to see. This will be an In-depth, but not 100% complete due to time, of what Is possible on a property. We will discuss as a group and I will answer any questions.

How will properties be chosen?

We will be picking the properties at random from a drawing out of a raffle spinner. You will be given a ticket to add your property to on arrival and then It will be random.

Want to Guarantee your property gets reviewed?

We will sell 2 tickets that guarantee your property gets reviewed If purchased. These will be premium tickets and there will only be 2 available. Once sold It will be strictly the raffle.

Early Bird (Until Friday at 9:00 PM)- $15

Standard- $25

At the Door- $30

Review My Property and Ticket (only 2) along with a Real Estate Investor T-Shirt- $90

We are always trying to bring the best and most engaging events for real estate Investing. If you have any Ideas for events you would like to see let us know!

https://www.eventbrite.com/e/r...

Investment Info:

Other other investment in San Diego.

Purchase price: $565,000

Church property purchased from family of deceased owner. Property has been lease optioned to new church that is renovating and building out new buildings to expand their existing church.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $735,000
Cash invested: $95,000

Single family flip in a premium neighborhood of San Diego. Involved a complete remodel of kitchen and layout as well as adjustments for access to master bath. Property also included an art studio and detached garage that was upgraded as well in the process.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $520,000
Cash invested: $390,000

Full coastal remodel with forced appreciation added with additional bathroom, master suite and a second floor added to home. Property was complete remodel with everything touched to create this coastal gem. Located minutes from the beach this home offered everything the coastal lifestyle is looking for in a home.

Investment Info:

Other other investment.

Purchase price: $805,000
Cash invested: $150,000

Small lot subdivision project. Took existing coastal property with single family home on it. Rented property out for 22 months while completing entitlement of small lot subdivision. Dispositioned project to developer at approval of subdivision.

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $1,800,000
Cash invested: $660,000

Apartment complex renovation project. Renovated all units in apartment complex and turned over entire building. Property has now been refinanced and held within our partnership as a cash flowing asset near a local college.

Investment Info:

Small multi-family (2-4 units) other investment.

Purchase price: $710,000
Cash invested: $110,000

Tri-plex project in coastal area. Renovated and created 3 Airbnb units on the property. Rented the properties out until COVID hit and then switched to a mix of short term rental and long-term rental. Prelimed project to build 15 units with a. mix of commercial and residential use on the property. Dispositioned property to developer to build out as part of their portfolio.

Investment Info:

Small multi-family (2-4 units) other investment.

Purchase price: $1,000,000
Cash invested: $200,000

Multi-Family investment property that has been turned in Airbnb. Property has been used to generate income while processing permits to build out large apartment complex assembly on site. Is part of a duplex that is also rented out as a short term vacation rental.

Investment Info:

Large multi-family (5+ units) other investment in San Diego.

Purchase price: $505,000
Cash invested: $1,500,000

Ground up construction project in San Diego. Project used the DSDIB400 to add 2 additional rental units to the property via ADU conversion on new construction. Property has been refinanced and stabilized creating long term cash flow for the investors.

What made you interested in investing in this type of deal?

The in-fill market in San Diego has been very hot because of housing demand. This project offered the ability to add multiple units at a very cheap price due to our understanding of Zoning. We bought, permitted, built, rented and refinanced this property into our portfolio.

How did you find this deal and how did you negotiate it?

This was on the MLS as a burned down home

How did you finance this deal?

This project was syndicated with LP's and my team as the GP's. We also had a construction loan for the project.

How did you add value to the deal?

We built the entire property from the ground up.

What was the outcome?

The outcome was excellent. We achieved even higher values than expected because of the activity in the market that helped us reach new heights.

Lessons learned? Challenges?

Lots of lessons learned on project timing and construction. Was very happy with how it all worked out in the end and how we were able to obtain great rates on refi.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

My team, Finest City Team and Thomas Strafford Investments managed all of the vendors from our resources. We partnered with Coastal Development Group as the GC on the project.