Tiny House, Tiny Rooms, BIG Juicy 🏠💦 ARV!

[Mike Quin]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $650,000
Cash invested: $232,000

1631 Babero Ave. San Jose CA - small post WW2 house w/weird layout & freaking tiny rooms

Original: 4 Beds/1 bath, 1100 sqft.

Added 400 sqft, combined 2 tiny bedrooms into one master with master bath. New footprint 1505 sqft.

Full gut job down to the studs, new mechanicals, baths, kitchen.

Project was straight forward, only downsides were the delays due to the city & corona.

Purchased it Sep 2019 for $650k. Sold it for $1,230m.

Message me if you ever need help with a project or questions.

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

We Love buying the ugliest and most torn up houses. We've bought fire damaged, water damaged, tenants refusing to leave, and foundation damaged houses and land. Send us any project and we can buy it.

How did you add value to the deal?

We changed the layout from a 4 bed and 1 bath to 3 bedrooms and 2 baths. We created a master suite that didn't exist. We added 400+ sqft to the house with permits.

What was the outcome?

We received multiple offers all above asking price.

Lessons learned? Challenges?

The city of San Jose is very slow and most cities will be slower for the next couple months or the rest of the year when it comes to permitting.