Lake Arrowhead Vacation Lake Home

[Damien Melle]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $550,000
Cash invested: $680,000

Single family home, 3 bedroom & 4 bathrooms overlooking the lake

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

Looking to add to our vacation rental portfolio.

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

MLS

How did you finance this deal?

All cash

How did you add value to the deal?

Current comps

What was the outcome?

A complete down to the studs renovation on all 3 floors. 2K sq feet of decking installed and full landscaped.

Lessons learned? Challenges?

Properties located on the mountain have several challenges when it comes to structural support and foundations. Conduct a soil study and rock to soil ratio before making plans to build.

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

Brokerage and construction handled in-house.