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Updated over 7 years ago on . Most recent reply

User Stats

57
Posts
12
Votes
Justin Madison
  • Rental Property Investor
  • San Jose, CA
12
Votes |
57
Posts

Palo Alto High End Flip Opportunity

Justin Madison
  • Rental Property Investor
  • San Jose, CA
Posted

I'm looking at a flip opportunity with an experienced builder in Palo Alto, CA.  This is a high end flip very close to Stanford University on College Avenue.  It is priced at $2.5 Million with a 7,800 SF Lot.  It would be a tear down of the existing 2,000 square foot house and rebuild a 5,000 square foot house for approximately $1.1 Million, then resell the new house at approximately $5.9 Million.  Carrying costs excluded from example above.  Would borrow most of the money. Turn around time from start to finish is approximately 18 months.  9 months for the permit and around 12 months for the build out.  Is a deal like this worth doing?

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