We live in a 3/2.5 luxury townhome in W Seattle right now and just bought another home with a ready to go ADU in W Seattle (under list price) with traditional financing.

I remember the first day one of my neighbors a contractor told me if I was going to demolish the house and I though that was ridiculous since the house was certainly livable and in decent shape, I budgeted about 80,000 on repairs and a sale price of about 800,000 still the cheapest on the block and about 250,000 in profit, so I stated the rehab and after about 150,000 on expenses and 11 months I was over 70,000 of my budget and about 6 months behind I put the house on the market and had no offers NONE, ZERO, I started reducing the price and nothing, after a year on the market I decided to hold an auction and the highest bid was 340,000 for a house that now cost me about 600,000, that was a shock so I remember my neighboor question about building a new house on the lot and now it wasn’t so ridiculous, I did my homework and I though it might work the problem now is 150,000 in new everything the house had but I figure I could dismantle the house and keep most of the materials for other projects, I took a luxury builder and he told me he couldn’t build much there because the lot wasn’t wide enough, back to selling the house, in the meantime a hurricane went thru and flooded the garage and part of the house another 20,000 to my loss, finally I got an offer for 490,000 and after holding costs commissions and taxes I lost about 140,000 so much for luxury profits.

L Luxury Vinyl Plank Flooring (20.06 sq. ft. / case)Flooring for the other rental:$2.79 / sq. ft.

Since number 2 alone is worth at least $22 million, because it's a prime location and is currently rented by a worldclass luxury goods brand, I think this deal is so cheap. 

Once I get a yes from the Seller, I then prepare the contacts in the luxury of my own home (where i can make all the mistakes I want and correct them before anyone judges me).

I am a real estate agent in Ibiza and i sale luxury Properties from 1 Million to 30 Million. 

A home serves as a human need, a car is a luxury.

Most sellers want to get out completely and thus would not likely have the luxury of doing a subject to with you.

You have to target a list that hasn't had this luxury of choice, this will make the acquisition part easier.

@Don Konipol You've chimed in on so... many conversations for me @Will Barnard on the southern California market, and luxury flips I've learned a lot from you!