Kagel Canyon Project

[Jonathan Franchini]

Investment Info:

Single-family residence fix & flip investment in Sylmar.

Purchase price: $307,000
Cash invested: $165,000
Sale price: $660,000

Completely gutted to the studs rehab. New 750sqft house in the back 2+2.

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

The lot size and the upside potential of adding square footage for larger profit

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

found it on the MSL through one of my agents

How did you finance this deal?

yes

How did you add value to the deal?

Adding a second house (ADU)

What was the outcome?

very lengthy but successful.

Lessons learned? Challenges?

lessons learn: get more familiar with new building codes regarding ADUs. Challenge, getting architect, and DWP to move faster and not take their sweet time.

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

Agents and Hard money lender