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Updated over 7 years ago on . Most recent reply
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Palo Alto High End Flip Opportunity
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?