All Forum Posts by: Nathan Benich

Hello, I'm looking for a business partner in Silicon Valley, CA. I have several Fix 'N Flip opportunities. Please message me or contact me directly so I can tell you what I have and see if we are a good fit. I'm at Four-Zero-Eight-Eight-Zero-Five-Zero-Three-Six-Three and I look forward to hearing from you! Cheers, Nate

Hello! I have a project in Oakland, CA that I'm looking for a business partner for a fix 'n flip property. It is up in the Oakland foothills, which is a more desirable location with views of the water (San Francisco Bay) and Downtown Oakland. Here are some numbers: MAO = $450K - $500K; Reno Budget = $78K - $85K; ARV = $725K - $750K. Please contact me right away if you are interested as we will need to move very quickly. Thank you! Cheers, Nate

Hello, I'm in the San Francisco Bay Area and looking to continually network and meet new people. I attend MeetUps regularly and I've presented at some of the events. Any interested in building their SOI, let's connect, chat and see where that leads. Cheers!:)

Yes. All of the advice given here is correct. I would like to add that I recommend to do your fix n flip deals in a separate entity, while at the same time disclosing you're a licensed agent. For example, let's say you want to do a deal at 123 Main St. Use your real estate company (i.e. ACB Realty) to represent your other company to make the purchase as the Buyer (i.e Wins-A-Lot Real Estate Ventures, LLC). Then, pull all building permits and complete all of the construction within the scope of work you laid out in your "Wins-A-Lot Real Estate Ventures, LLC. This creates an official separation of the companies. Then, when you sell it after you receive you "Certificate of Occupancy," the Seller will be "Wins-A-Lot Real Estate Ventures, LLC and ABC Realty will be representing the Seller. Just make sure you have all paperwork, insurance and disclosures in order. I've been doing this for over 12 years and following this example will help mitigate risk and litigation. Cheers from Silicon Valley, CA!:)

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $223,500
Cash invested: $60,000
Sale price: $350,000

This is a beautifully remodeled 4 bedroom, 3 bath, 2,142 SF home sitting on nearly a quarter acre lot. The home showcases a new roof, new electrical, new plumbing, new windows, new granite countertops, refinished original hardwood floors and a spacious first floor en-suite. This house originally only had 2 bathrooms, but a bathroom addition was included in the scope-of-work. All Building Permits on file.

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

This was a conservatorship and had to work with the DA's office in San Joaquin County. Nobody wanted the property because the original list price was too high. After being on the market for a long time and after numerous price reductions, I made my offer and negotiated a purchase price of $223.5K that was confirmed by the court.

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

It was on the MLS for a long time and kept a close eye on it as I was working on other projects simultaneously.

How did you finance this deal?

It was initially financed through hard money lending because I needed to leverage other people's money since I was doing multiple projects. Once I sold the other projects, I cashed out the lenders since there was no pre-pay penalty.

How did you add value to the deal?

This was not only a full rehab project, I also added a bathroom upstairs.

What was the outcome?

I made a gross profit of $66,500!:)

Lessons learned? Challenges?

Conservatorship and probate always take longer than you think. As most investors have experienced, my contractors and sub-contractors didn't always show up when they were suppose to.

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

Because I have my Broker's license, I put the entire deal together finding resources on my own. Without my license, I don't think I could have put the deal together.