Record Breaking ARV- Venetian Hills

[Kalim Kalla]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $140,500
Sale price: $570,000

This was a deal found for one of my clients, home was in terrible conditions but had just the right bones for the job. I was able to negotiate the purchase price down for my client and make a respectable wholesale fee while still getting him into the property at a price that he was comfortable with. As displayed by the margin there was a significant amount of appreciation over the expected ARV, but my client was not afraid to go into the area and construct a home with high end finishes aiming to set the record for ARV in the area.

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

The area had some houses that were flipped already. Majority were as is so there was some value to be added.

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

Found the property on market, and negotiated it to the right price for my client who had realistic expectations.

How did you finance this deal?

We used Hard Money to source the funds and complete the rehab.

How did you add value to the deal?

We added square footage to the home by popping the top and adding a second floor.

What was the outcome?

Huge net profit for my client and broke the record for highest sale in the Venetian hills pocket.