Addition and remodel in Sherman Oaks, CA

[Will Barnard]

Investment Info:

Single-family residence fix & flip investment in Sherman Oaks.

Purchase price: $745,000
Cash invested: $360,000
Sale price: $1,350,000

Single Family Development in Sherman Oaks, CA, added approximately 1,000 SF to existing structure.

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

MLS, represented ourselves in the purchase and resale.

How did you finance this deal?

My private investor network.

How did you add value to the deal?

Demolished about half of the existing and added approximately 1,000 SF. Remodeled the existing pool including new drains, new plaster, new tile, new coping, and new equipment.

What was the outcome?

Profitable deal, although it took us much longer than desired due to having too many deals ongoing at once.

Lessons learned? Challenges?

Next time, if our in-house staff is too busy, we will sub out more to decrease holding times.

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

Yes, ourselves and the list agent at purchase.