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Fix & Flip in Los Osos, CA
Dated: March 22 2022
As both a Realtor and investor, I love all facets of the real estate journey. I love prospecting for new properties. I love to help homeowners solve problems by coming up with creative funding and deal structures. I love working with title and escrow to get everything buttoned up and clear so that there is no confusion. And I love love love to flip and sell properties!
In a past life, I was a producer on multiple home removations TV shows. My main job was to source materials for the designers and handle the logistics of getting everything to the job site on time and under budget (and usually on camera!). I was exposed to lots of different types of products, companies, and creative problem solving strategies and I have brought all of that experience into my real estate career.
I purchased a property off-market from a person in my extended social network in Los Osos. Our deal was creative problem solving at its best as we had to resolve many potential obstacles in one deal:
- How could we help get cash out of the home so that she had it available to pay down some liabilities and have it available for a down payment on a new property?
- How could we ensure she had plenty of time to look for a new place, pack her belongings, and smoothly transition her family into a new home without having to meet an escrow deadline or be encumbered by market urgency?
- How could we help her avoid having to do costly repairs and renovations to make the property ready for market?
The answer(s) we came up with allowed us to purchase the property with a large cash payment funded through a hard money loan. The balance of the offer price would be paid when I ultimately sold the property after the flip. I covered all closing costs, repairs and renovations so she didn't have to - and I offered her a "lease back" option that made it possible for her to keep a monthly payment similar to her mortgage and have a no-pressure transition into a new place.
She ultimate found a new home within 60 days, took her time moving, and then handed over the keys. This was also a big advantage for my team as we were able to spend those 60 days ordering materials and prepping for the flip so that as soon as got the greenlight - we were able to GO GO GO.
We completed renovations in a little over six weeks, including a full kitchen and two bath remodels. We did a full interior paint and a large amount of floor renovation. We ultimately put the property on the market and had competitive bids, entering escrow one week after listing for well over asking price.
We loved this experience and loved being able to help so many homeowners involved - including our original sellers and the new happy buyers! We learned a lot of lessons along the way - but most important of them all - that with a little creativity, we can make a deal happen that solves a lot of problems.
Born and raised in the SF Bay Area, a student in Orange County, a long-time resident of Los Angeles and then a transplant to the Central Coast - I am a passionate ambassador for the beautiful st....
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