Past projects in San Diego Ca (Clairmont)

[Richard Murrray]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $405,000
Cash invested: $85,000
Sale price: $622,000

Sorry not the most active on any platform but thought I complete some of the projects I have gotten done in the past. Won't be list each one but this one was a great outcome. From the past, I did 1031 this into a duplex unit I am holding.

This was a fantastic fix and flip done correctly with quality workmanship and proper time involved to give the end user a quality home.

https://www.zillow.com/homedetails/4264-Feather-Ave-San-Diego-CA-92117/16913489_zpid/

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

Found this deal thru word of mouth and relationships. Negotiate it with giving the owner a free lease back for 3 months

How did you finance this deal?

A bridge loan or some banks call the them Pledged asset loan (PAL) Schwab

How did you add value to the deal?

Full rehab and add sq. ft. to the property

What was the outcome?

Sold it right as COVID hit... (wish I held)

Lessons learned? Challenges?

Relationships get you deals and the know how is learned with some hard work

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

This project made me get my RE license