Pre-Sold New Construction Home in Willow Glen, San Jose CA

[David Herrera]

Investment Info:

Single-family residence fix & flip investment in San Jose.

Purchase price: $640,000
Cash invested: $825,540
Sale price: $1,730,000

Existing single family home purchased with approved plans to tear down and build a New 4 bed 3.5 bath 2,500 sqft single family home. Home was initially purchased as a package deal with 462 Hull Ave, and was pre-sold to a retail buyer before completion

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

Up and coming area on the outskirts of Inner Willow Glen

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

FSBO on Zillow - Purchased from the original developer who got plans approved

How did you finance this deal?

Hard Money & Private Money

How did you add value to the deal?

Project Managed, customized the two homes finish features to cater more to the end buyer. Contemporize the look while keeping cost of construction below $200 Per Square Foot

What was the outcome?

Sold for $350,000 over what the appraiser originally appraised it at when we purchased the project.