Subject: 2833 Amulet St

[Niko Castilleja]

Investment Info:

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

Purchase price: $546,500
Cash invested: $611,500
Sale price: $715,000

I've done to many to list. 132+ deals and adding up every week with teams I've collaborated with. 72+ in San Diego, CA, and 60 in Cleveland, OH, since 2014. I've worked with organizations doing 200+ properties a year in San Diego.

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

The numbers made sense to move forward.

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

An agent brought me this pocket listing. He wanted $60K more for the deal and I was firm with my offer due to the fact that it was a 3/2 but was converted to a 2/2 so we had to reconfigure the floorplan to have a better flow and bring it up to date and take advantage of the natural lighting and the pool. I had him represent me and fight for my offer which he did.

How did you finance this deal?

Private money.

How did you add value to the deal?

New custom kitchen with beautiful quartz countertops, new floors & stainless steel appliances. Large master bedroom w/ full bath. Spacious living room & family room w/ new modern floors & fireplaces in each makes them perfect for entertaining. Bathrooms have new modern tiled floors & showers, sinks, white wood cabinets, & brushed nickel lights/fixtures. Modern touches & new dual pane windows throughout the home. Plus fixed the foundation.

What was the outcome?

Went Pending after 5 days on the market.

Lessons learned? Challenges?

Everything was as expected. We've bought 143+ properties since 01/01/2019

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

This was with a new agent contact. Last year we bought 111 properties and 53 from agents, 49 from wholesalers, and 9 were from direct marketing.