Real Estate Investor & Consultant · Los Angeles, CA · Member since 2016 · 620 posts · 386 votes
My partner Zerik and I have completed another fix and flip in LA. This one in LA's Silver Lake (LA's Williamsburg'). Here are some key metrics:
Purchase: $750k
Rehab: $275k
List Price: $1.368M
We used a HML (5 Arch) and private investor money in order to finance the deal. It was a HUGE project as the home had a lot of unpermitted work done that we had to demo. It also was a hoarder home, as the previous owner used it for a storage space. Add to that, he allowed the tenants in the downstairs unit to run a meth lab, and it was crazy!
It was our largest rehab budget to date.
We are however, very proud with how it turned out.
You can see the listing and video below along with some before and after images:
Real Estate Agent · Toronto, Ontario · Member since 2016 · 16 posts · 3 votes
7y
@Shawn Ward wow, stunning transformation!
Must’ve felt great as it all started to come together.
Would love to see the finals breakdown after Its sold :)
Specialist · Pasadena, CA · Member since 2017 · 133 posts · 86 votes
7y
@Shawn Ward I noticed on your flips you tend to use some bright accent colors. Do you think this limits your buyer pool or the area is just too hipster to care?
Real Estate Investor & Consultant · Los Angeles, CA · Member since 2016 · 620 posts · 386 votes
7y
@Matthew G. 1. The areas are a bit more hipster yes...but , we do take the chance of alienating potential buyers by actually creating something that does not look like everything else.
The good thing about this business is we only need ONE buyer. :-)
We'd rather be creative and get 1-3 buyers who love it than have a cookie cutter home with 5-8 buyers.
It's just our philosophy and may not work for everyone.