All Forum Posts by: Chase Barrett

Hi All, 

We have been doing great in our market and we are looking to add investors to our portfolio. We currently have 2 full time investors and 2 part-time (occasional) investors. We have proven systems for acquiring our properties and are buying at huge discounts to market rate. Our designs are highly desirable and most of our properties sell prior to completion and for over our initial asking. We are not traditional "flippers". We do comprehensive remodels often with large additions or new construction. Below are the numbers on the last 3 deals we sold. If this sounds like something you want to learn more about, please send me a message.

Island View Neighborhood

2,333sf. 3 bed, 2 bath house. 

PP: $865,000

Rehab: $275,000

Sales Price: $1,525,000

Commissions, Closing and Holding Costs: $107,000

Total Profit: $278,000 (50/50 split with investor)

Total holding time: 9 months

Skyline Neighborhood

2,042sf. 3 bed, 3 bath house.

PP: $735,000

Rehab: $158,000

Sales Price: $1,150,000

Commissions, Closing and Holding Costs: $62,000

Total Profit: $198,000 (50/50 split with investor)

Total Holding time: 4 months 

Heights Neighborhood

1,575sf 3 bed, 3 bath house

PP: $865,000

Rehab: $150,000

Sales Price: $1,250,000

Commissions, Closing and Holding Costs: $115,000

Total Profit: $120,000 (30% split to investor. We held a hard money loan on this and therefore took more of the profit split)

Total Holding Time: 7 months 

@Cornelius Charles

Thanks. We do work on smaller properties as well, approx $1M. 

@Cornelius Charles

Awesome! I have two deals available for funding right now. Check out my post detailing them here: https://www.biggerpockets.com/forums/517/topics/304638-montecito-ca-investment---15m-profit

@Cornelius Charles. Thanks for the reply! Is this a hard money lender you are working with or a private investor? 

We are experienced investors and are looking for partners in the Santa Barbara and Ventura areas. We have many deals ranging from $600K to $5M and are seeking financial partners to take these deals down. We have made our partners a very good ROI and hope to expand. Message me if you're in the area and interested. Thanks! Chase

Hello, 

My wife and I are experienced contractors/investors in the Santa Barbara/Ventura areas. We are currently working two deals (one is under contract, the other is being negotiated) for estate properties in Montecito. The benefit to both of these deals is that they come with approved plans and permits cutting out at least a year of government red tape. We are looking for investment partners for one or both of these properties. I have included basics about each deal below. Here is a bit about us:

We have been flipping since 2008 and have been full time since 2010. Our portfolio includes more than 75 properties ranging from cosmetic touch-ups to complete new construction. We have a design aesthetic that is very desirable (constantly updating with each project and the trends) and has sold most of our projects pre-market and for over-asking. We are not "flippers" we are builders. Our goal is not to get in and out quick and slap some lipstick on the pig. We pride ourselves on delivering an exceptional product to the market in an efficient manor. Since the beginning of 2015, we have sold more than $6,000,000 in assets and currently have 6 assets under management with a market value of approximately $8,000,000. 

Montecito Project 'A' - demo 85% of existing structure, rebuild, relandscape with approved plans. 

Acquisition price: $2.25M

Construction costs: $1.5M

Commissions, Carrying and Closing Costs: $274K

Time to Complete: 14 months

Disposition Price: $5M

Projected Profit: $976,000 (26% ROI)

Montecito Project 'B' - complete new construction with approved plans and water allocation.

Acquisition price: $2.3M

Construction costs: $2.5M

Commissions, Carrying and Closing Costs: $375K

Time to Complete: 16 months

Disposition Price: $7M

Projected Profit: $1,825,000 (38% ROI)

I can be reached at (480) 323-6974

Thanks, 

Chase Barrett

We have been flipping for about 8 years. Loving life and what we do! We moved to CA about a year and a half ago and have really been focusing on increasing our price points and building lasting relationships with investors, etc. All of that work has led us to this point. We are working on a major luxury estate deal and need to pitch the project to a group of investors. Our main investor is involved but the group has expanded for this project because of size and cash required. I am wondering if anyone has walked this path before and could provide any pointers. What materials did you use in your presentation? What material did you cover? What did you feel wasn't important to include? What would you improve if you did it again?

Thanks so much Guys and Gals!

Chase and Rio from Santa Barbara