New Construction Project Completed in Encino, CA.

[Will Barnard]

Investment Info:

Single-family residence fix & flip investment in Encino.

Purchase price: $850,000
Cash invested: $1,400,000

Welcome to this newly constructed contemporary masterpiece w/ amazing curb appeal located South of the blvd in Encino. This home offers 4 BR + 4.5 BA, approx. 2,930 sq. ft. of living space. This home is one of a kind!

Purchased as a small single family outdated home, most of it torn down and developed into this new contemporary home. With approximately $550,000 into construction and $850k acquisition, the total capital costs are $1.4M. Listed for sale at $1.829M.

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

I have been doing this for years now and I love it!

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

Owner contacted me direct as he was interested in another project I had started in Valley Village, CA and we ended up trading homes with some additional capital paid from him to me to make it worth the trade.

How did you finance this deal?

My Private Investor Network.

How did you add value to the deal?

Demolished most of the home, developed architectural and structural plans to build a new contemporary 2,930SF home with 4 beds & 4.5 baths.

What was the outcome?

It is currently on the market for sale at a list price of $1,829,000 (reduced price from $1,895,000).

Lessons learned? Challenges?

We had several delays in doing this project, some out of our control and some our own fault. Going the extra time will certainly eat into our profit margin on this deal which was the largest mistake.

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

Yes, ourselves.