All Forum Posts by: Morgan D'Cruz

Hi Jonathan, I am a general contractor based on Orange County and I actually logged onto BP today specifically to look into threads for developers looking to partner with GCs as it is an avenue I am interested in exploring. If you would be opening to chatting feel free to message me directly!

Thanks Greg Steinbrecher !

Evan Bell this property is in the Linda Vista area. West of the 805/163

Sarah Dumm the comps are all in the last 6 months so most were end of school year or summer. William P. Thanks for the feedback and reminding about the taxes- not looking forward to that part

Sarah Dumm Yes I've factored in all costs. My Fiancé is a broker so we are saving on a lot of realtor fees. We're looking at $20k profit which is fairly conservative as we're factoring 7% for back end fees (closing, agent, etc). I grew up in San Diego so I'm familiar with the area and that's why I'm hesitant because I can't identify the fluctuation in price. Through market data I can't see internal or structural issues so considering the homes in this area are older that may be the culprit for the price inconsistency.

My Dad is a contractor so all of the work will be done in house so I'll be able to avoid contractor expenses. It will just be material and time for our foreman who can get all the work done.

New kitchen, new full bath and at least a new vanity in the other bath. New flooring in the family room and kitchen. Landscaping

We're under contract right now for $480 with 2k credit back from seller to cover closing costs.

Hey BPers, I'm looking at doing my first flip in San Diego. The only hesitation I have with this deal is that I THINK it could sell for 580k based on comps but this area is not consistent. There are homes that have original finishes, same sf and location and sell for 550k and others that are moderately updated and sell for between 505k and 600k. There are definitely comps in the area, just lack of consistency. I know there is always some level of risk but I'm trying to at least take on a manageable amount and be realistic about the sales price. Any advice for a first timer? Thanks!

@Moises Carlos Great, thanks for the feedback