Fix and Flip home in Los Angeles
Investment Info:
Single-family residence fix & flip investment in Studio City.
Purchase price: $1,700,000
Cash invested: $450,000
Sale price: $2,919,000
We did a complete remodel and added pool that was permitted.
What made you interested in investing in this type of deal?
The deal was perfect for what we were looking for.
How did you find this deal and how did you negotiate it?
We found the deal on Redfin. I am a real estate broker, so we did the formal way of submitting an offer.
How did you finance this deal?
Hard money loan.
How did you add value to the deal?
We opened the space more to look bigger and added a outdoor pool.
What was the outcome?
A piece of art.
Lessons learned? Challenges?
Always have your holding cost of reserves for up to 6 months to pay for your loan.