The espresso little home which wowed the neighborhood

[Michael Nugent]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $250,000
Cash invested: $40,000
Sale price: $350,000

Great entry level home near CBU. Located on a cul-de-sac, this turn key home is ready for a family who loves to entertain. This home has a very large back yard where you can easily build a swimming pool and a 1/4 basket ball court and still have room for more. Do you have toys and an RV? That's okay because 8637 Stark St has the room. Enjoy this 3 bedrooms, 2 bathrooms home.

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

I know this area well and knew that at the price it was being offer there was some money to be made

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

Western Acquisitions in Corona, Ca

How did you finance this deal?

I borrowed money from one of my RE buddies and offered him to split it all the way down to the middle.

How did you add value to the deal?

We added extensive espresso color wood fencing that was very inexpensive to do and and added lots of curb appeal. We also converted a very very large laundry room into a stackable laundry and 0.75 bathroom. As always, we beautified and staged it to add the WOW factor. My beautiful wife Irma Nugent helped with the staging. She has an eye for this type of thing.

What was the outcome?

We ended up splitting $42,000 (50/50). My buddy put all the money and I managed the project and listed and sold the house.

Lessons learned? Challenges?

Some times it is ok to be BOLD on the colors you use as long as the house welcomes the make up. Staging works!!!!

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

Nope