505 Mountain Dr Hometown Equity Group LLC

[Carlos Ramirez]

Investment Info:

Other fix & flip investment.

Purchase price: $850,000
Cash invested: $850,000
Sale price: $3,000,000

https://www.zillow.com/homes/505-Mountain-Dr-Santa-Barbara,-CA-93103_rb/15884812_zpid/

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

My company saw some distress in the property.

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

Seller out-reach

How did you finance this deal?

Private money lender

How did you add value to the deal?

Remodeled interior, exterior, and pool.

Lessons learned? Challenges?

Learned that checking in on contractors is probably a good idea to stay on track. Hold time was a little longer than expected.