Thousand Oaks Fix and Flip

[Krista Wolf]

Investment Info:

Single-family residence fix & flip investment.

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

We've been looking for an opportunity to do a fix and flip, and when this property came on the market, we jumped at the opportunity, knowing that this was a great neighborhood, with strong comps to support the project.

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

We found it on the MLS, after the price had been reduced (so it came through our email as well) - we made an offer above asking.

How did you finance this deal?

We used a hard money loan to finance both the purchase and the construction. We had money for the down from our HELOC on our primary.

How did you add value to the deal?

We brought our design skills to the deal, creating a new floorplan for the kitchen, pantry, and specific redesigns of spaces, as well as selection of fine finishes/features to create a strong aesthetic that wasn't the cookie cutter 'white kitchen and bath'. We also relied on a network of skilled contractors and craftsmen for the details, such as stucco work on the exterior and smooth plaster on the fireplace. All of these, along with selections of finishes created a high end design. Finally, we staged our property with our own high quality furnishings.

What was the outcome?

We were so excited to bring this to market knowing we had succeeded in what we set out to accomplish. We got a full price offer, 14 days after putting it on the market.