Value-Add Multifamily Flip

[Don Pearson]

Investment Info:

Small multi-family (2-4 units) fix & flip investment in San Clemente.

COMING SOON!

Fix and Flip multifamily. This project is the quintessential worst house on one of the best streets in downtown San Clemente. 

Sitting squarely within a mixed use and short-term rental zone, this property is just a 10 minute stroll to the pier and less than 1 block to San Clemente's dining, shopping, and entertainment center. Directly in the path of progress. New owner will still have plenty of "meat-on-the-bone" with opportunity to operate as a short-term rental and/or pursue long-term development play.

Can't wait to get this project off the ground! Updates coming soon!!

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

1. I know the market and economic drivers well. Property is directly in path-of-progress.
2. Anticipating 16.50 - 23.26% annualized returns (underwriting of total project cost, hold period, and exit price range).
3. Backstop is achievable positive cashflow post renovation.

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

On Market. Relationship with Listing Agent. Waived our buy-side commission and had Listing Agent represent us.

How did you finance this deal?

Combination 70% Loan - 30 year fixed, and equity (closing costs, down payment, carry, and capital costs).

How did you add value to the deal?

Planning full interior and exterior renovation.

What was the outcome?

TBD

Lessons learned? Challenges?

TBD