4643 Tyler St, Riverside Ca 92503

[Michael Nugent]

Investment Info:

Single-family residence fix & flip investment in Riverside.

Purchase price: $240,000
Cash invested: $308,000
Sale price: $367,000

This newly rehabilitated home offers an incredible opportunity live in a wonderful home & build up to 3 units as per its multiple-unit zoning. 2be/1ba.

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

The large lot and zoning being multi-unit motivated me to purchased this sfr.

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

Whole seller

How did you finance this deal?

Cash

How did you add value to the deal?

Complete renovation and added modern feel and sleekness. Added lost of concrete drive way. Made it very private be adding 90% black mesh around the pre existing and ugly chain link fence and segmented part of the front of the lot by building a wooden fence. New roof and HVAC were also key factors. The kitchen was a BOOM by enlarging it and making it an open concept with light colors to add space. Built a 4' block fence on the front since it is a high traffic street to add a sense of protection.

What was the outcome?

Sold during the 1st open house and it yield an unexpected and much higher ROI

Lessons learned? Challenges?

Lessons:
1. Always hire someone to house-sit when rehab is on a major trafficked street.
2. Rent one of those 6' protection chain link fence, it will keep the onlookers away and will eliminate people dumping trash on your site.
3. Always stage

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

Nope