This is golden real estate - Not difficult to make $200,000 + DAMN ITS GONE

[Jason Meissner]

This location is amazing and you can easily add the square footage to get over 2 million at the sale after the remodel. The home next door just went $300,000 over asking. This is a good example of getting in and out in 8 months with more than $200,000 in profit. If your permitting is straight forward Pasadena is a good place to work.

Building for value add rental prospects could be even better. It is a location where you can get very long term high rents. Design your own value add project. Rent it out standard or to short term to tourists, hospitals near the property and an area where people go to retire. Walk to down town Pasadena and the Rose Bowl. 

I'm uninvolved in any way. This is my area and I like it. 

https://www.zillow.com/homedetails/149-California-Ter-Pasade...

The remodeled house next door went off market in 10 days and sold at $2.7mil and $300,000 over asking price: https://www.zillow.com/homedetails/161-California-Ter-Pasade...

[Rick Albert]

This is a good example of why flippers and builders are focusing on the higher end real estate. The cost of rehab is almost the same, whether it is in Pasadena or Pacoima. Cost of plumbing, drywall, electrical, etc. is the same. The difference is the land and finishes. However the land value is passed on in the overall value and the finishes is only a small percentage higher than Home Depot quality.

Where I am seeing some flippers screw up is the quality of the work is horrible and clients are noticing. I have clients who are interested in buying a flipped property but the investor didn't pull permits and added a bathroom. It has been sitting on the market and now my clients might be thinking of lowballing them. Had they spent a few thousand dollars on permits, then they would have likely gotten closer to their asking price.