Successful Fix & Flip in Mount Washington (Los Angeles)

[Brian Edson]

Investment Info:

Single-family residence fix & flip investment in Glassell.

Purchase price: $1,250,000
Cash invested: $287,000
Sale price: $1,925,000

Acquisition of off-market single family residence located in beautiful Mount Washington, CA. Objective: Inject value into the 3285 SF property through providing a more open layout for the kitchen, redesigning the master bedroom and updating all systems & finishes including rebuilding 2400 SF of outdoor deck.

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

Off-Market Opportunity of an extremely unique property located in storied Mount Washington across the street from the A rated school.

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

Off-market property was presented to me by my realtor who was contacted by the seller who had seen one of our projects and asked if we would be interested in purchasing their house.

How did you finance this deal?

80% was financed using a private money lender with the remainder being cash.

How did you add value to the deal?

An exterior and interior overhaul including a kitchen and bathroom remodel and a reconfigured Master Bedroom.

What was the outcome?

The outcome was another off market sale to a couple who's daughter attended the school across the street. Property sold for over ask and was closed quickly.

Lessons learned? Challenges?

All positives on this project. Logistically the house was a challenge due to it's hillside construction. That said love homes in terrific school zones.

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

Yes.