All Forum Posts by: Daniel Koenig

I am astonished at how inexpensive manufactured homes are in San Diego, CA.

Why is this?

Why don't people invest in these?

Wouldn't it be easy to rent out a manufactured home for an easy profit?

I work in renovation sales: primarily kitchen and bathroom renovations, so I meet with many individuals who are looking to put their home up for sale in the near future.

From my understanding, there is no such thing as a 100% ROI for remodeling. If a client purchases an entire kitchen remodel for $25,000, it does NOT increase the value of their home $25,000. Correct me if I'm wrong.

I also work with many individuals who just bought a house and don't like the renovation the previous owner made.

In other words, as a hypothetical, The Andersons put $25,000 into a kitchen renovation and sell their home to The Smiths.  The Smiths purchase the house and then upgrade their countertops for $10,000.  I see this situation all the time.  The Andersons spent money to sell a home to a buyer who will spend money on the same purchase.

Wouldn't sellers and buyers alike be better off by renovating AFTER homes are sold?  

This inefficiency I observe makes me want to get into the real estate agency business and specialize in purchasing "as-is" homes, and remodeling/renovating AFTER the new owners own the home and can choose what THEY want for THEIR new home.  

I definitely can not handle the project alone.  I am very much a newbie.  I meant to ask for potential partners/investors in my original post, but the "rules of posting on the forum" said I could not ask for that :/

Hello fellow die hards!

I am in the home remodeling business (sales) in San Diego, CA.  In this business, I often speak with homeowners who share their intentions to sell their home with me......before notifying anyone else.  It always has me thinking "Well, what if...."

 I ran into the best potential deal I have ever come across.   It is a 3-bed 2-bath, over 1900 square feet home with a pool.  The 'Zestimate" on Zillow is around $650k.  

The house is a mess and outdated.  The home definitely needs some renovation, which was the owner's plan in order to make the house more attractive.  However, after my lengthy discussion with the owners, it became apparent that they could not afford any renovations.  They are putting multiple children through college.  They are about to become empty nesters.

With their financial need, I really feel as though the house could be bought for a deal (cash offer?).  Anyone have any tips on how to approach this?