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All Forum Posts by: Rebecca Raskind

Rebecca Raskind has started 5 posts and replied 22 times.

Nice job Will! Great strategy. 

Originally posted by @Rachel S.:
Originally posted by @Rebecca Raskind:

@Jon Schwartz we purchase in Sept and sold in July so about 10/11 months! 

That's an awesome profit. It's a shame you couldn't hang onto it for another couple of months so you could get the long term capital gains tax rate. Was there a reason for this that I'm missing?

Lack of experience if I’m being honest! Didn’t think of that at all. Just wanted it on the market and sold ASAP. :) 

Originally posted by @Will Barnard:

Nicely done, congrats.

Thank you Will! Thank goodness it went well despite everything going on.  

Originally posted by @Bryan Noth:

@Rebecca Raskind Congratulations, that's quite a margin!

 Thank you! So happy with how it turned out. 

Originally posted by @John D.:

Awesome, I'd love to see photos, we've done some mid-century projects.

 Thanks! We did a more contemporary mid-century with Palm Springs inspired style. You can see photos and video at midcenturyresort.com :) 

Thanks everyone. You can see photos and our marketing video at www.midcenturyresort.com :)

@Jon Schwartz we purchase in Sept and sold in July so about 10/11 months! 

Investment Info:

Single-family residence fix & flip investment in Los Angeles.

Purchase price: $1,040,000
Cash invested: $350,000
Sale price: $1,940,000

Contributors:
Samira Mahjoub Tapia

Turned a mid-century property in Ladera Heights into a stylish Palm-Springs inspired retreat. Ended up having to complete the 9 month renovation during Covid but ended up with a successful sale!

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

We had done one other successful flip property and were looking to continue. I liked the neighborhood, the lot size, and the fact that the house was technically mid-century but did not have a ton of character so we were able to really put our own spin on it.

How did you find this deal and how did you negotiate it?

Another investor brought this deal already under contract to an agent who had been looking for investment properties for me. She sent it to me and ultimately the other investor assigned the contract to me. The negotiation had already been done by the other investor but we were able to get an additional $8000 off in repair credits during escrow.

How did you finance this deal?

Hard money loan and our own cash

How did you add value to the deal?

We completed a full renovation including architecture, structural engineering (vaulting ceilings), adding one bedroom, one bathroom, and an additional 300 square feet to create a 4 bed, 4 bath with a master suite. We incorporated stylish designer finishes and fun elements like a flip-out serve window from the kitchen to the deck. We fully landscaped the yard creating a Palm Springs mid-century inspired courtyard.

What was the outcome?

We sold the property within 2 weeks on the market in multiple offers nearly $100k over asking for a profit of $300k after renovation costs, holding costs and selling costs.

Investment Info:

Single-family residence fix & flip investment in Los Angeles.

Purchase price: $1,040,000
Cash invested: $350,000
Sale price: $1,940,000

Contributors:
Samira Mahjoub Tapia

We purchased a fixer property in Ladera Heights California with a hard money loan. We did a full remodel including architecture and structural engineering creating an ideal floor plan and adding a bedroom, bathroom, and about 300 additional square feet in the master bedroom. We created a Palm Springs inspired mid-century retreat by incorporating stylish finishes and fun elements like a flip-out window from the kitchen to the deck. and completed the renovation and sold the property in multiple offers nearly $100k over asking mid-Covid.