North Park Condo in San Diego, CA

[Steve Meyers]

Investment Info:

Condo fix & flip investment in San Diego.

Purchase price: $365,000
Cash invested: $36,000
Sale price: $475,000

My business partner and I purchased this 1/1 condo from a probate sale. We closed on the condo with hard money and used our own money for the rehab. This project took took 5 months from start to finish and a lucky VA buyer was able to purchase it.

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

It was a good price and our renovation for it was minimal

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

This was an MLS deal. Because I'm an agent I was able to forego my commission to net the seller more money with a lower offer.

How did you finance this deal?

Hard money and personal funds

How did you add value to the deal?

Did an entire remodel, added new appliances

What was the outcome?

It sold for our asking price within 30 days