Modern Craftsman in San Diego

[Nicole Gilberts]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $1,165,000
Cash invested: $300,000

Craftsman community rehab in San Diego. This property needed extensive work as it had been neglected for decades. Not only was the property flea infested, but borderline hoarder house. Fortunately, we were able to see the potential!

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

We were familiar with the upside and potential of the neighborhood and immediately jumped on the opportunity to transform this home into a modern craftsman!

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

We found it through a local wholesaler.

How did you finance this deal?

Hard money followed by a refinance.

How did you add value to the deal?

Completely gutted the home and modernized the interior while keeping the exterior charm.

What was the outcome?

This is the type of home you hold on to for generations.

Lessons learned? Challenges?

This was yet again another Covid Era learning lesson given the price of materials, lack of labor, and supply chain issues. Full rehab took about 6 months in total.

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

I was able to identify the property through a wholesaler off market.