The seller obtained permits on this property from the City of Malibu which took 18 months. He also has full plans – architectural, structural and landscaping which took almost a year to complete. As you know, plans and permits are the hard part. This Malibu rehab is a perfect project for an end user or developer. Malibu is a beautiful and serene community. The property has real unobstructed ocean views and no PCH noise even though it is only a minute up from PCH.
A well-known LA architect worked on the design and remodel for it to be updated to an open floor plan and a master bedroom with a very large walk-in closet and ocean view. Once completed, as soon as you walk in the house you will be able to see the backyard and the ocean. The kitchen is adjoined to the family room, dining room and shares this beautiful view. The family room opens up to the backyard so that it embodies the true Californian lifestyle of outdoor living.
Regardless if you are a seasoned real estate investor, a savvy house-flipper or an entrepreneur in need of your first real estate loan, my lender partner can help you finance your vision.
They offer asset-based financing that rivals hard money. And because time is money, their loan processing is fast and streamlined so you’re on your way to realizing your vision quickly. These loans are perfect for short-term, long-term or fix-and-flip transactions.
Their flexible investment property and small commercial loans are available for:
30-year Investor Loans with No Balloon.
Consider locking in the historically low rates with no balloon payments.
The loan is designed for investors seeking a simple financing solution for purchase or refinances, with the flexibility to remain in the loan for up to 30 years.
This loan eliminates the balloon payment associated with private money loans, along with the rate hikes of adjustable-rate mortgages.
Because the FlexPerm loan is asset-based, it’s perfect for independent, buy-and-hold real estate investors and small business owners who are tough to qualify.
Great for qualifying W-2, self-employed investors and small business owners.
Based on the property value and its revenue-generating potential.
Best alternative to hard money loans.
Available as a 3-year-fixed or 30-year-fixed loan, each amortized over 30 years.
Loans for Fix-and-Flip Investors.
Fast and flexible fix-and-flip loans for real estate investors
Renovations can be hard work. Arranging the right financing solution should be simple and quick.
In as little as nine days, you can obtain up to $2 million in funding for your investment acquisition.
Their ARV loan is designed for independent real estate investors who are often tough to qualify. Based on the property’s “as repaired value” (ARV), it’s the best short-term, interest-only solution for acquiring and improving property value for fix-and-flip investors.
• Allows borrowers to finance improvements.
• Great for borrowers who need a quick close.
• An interest-only 1-year term provides lower monthly payments.
• A higher LTV than hard money lenders.
• Available for Investor 1-4 properties (SFR, condo and 2-4 units).
Even if you have a bankruptcy, you can still get financed after 24 months after the discharge date.
Quick and Easy Qualification for Investors and Small Business Owners With Credit Issues
Investing in residential and commercial properties is a long-term commitment so why should your options be limited? If you’re looking for an easy and quick qualification for your investment property loan, and you have credit issues and high equity, I can help.
Whether it’s a purchase or refinance, this loan offers easy credit requirements for your residential investment and small commercial properties.
• Great for borrowers with a recent bankruptcy or notice of default.
• No seasoning of ownership required.
• Derogatory mortgage history is OK.
• Available as a 3-year-fixed or 30-year-fixed loan, each amortized over 30 years.
This is a nice opportunity to develop a large lot in Northeast Los Angeles (NELA).
This is a hot area, with a large amount of development going on by investors and builders.
It will be delivered vacant, which is always our first concern.
There is value in this project, whichever strategy you initiate. We have been told that you can build up to five (!) units on this large lot, but do you own due diligence with the city.
Take a look at the numbers: – existing single-family home, 3 beds and 1 bath, is 1314 sf – great lot size! 8242 sf –Delivered vacant! – closing date is August 30 – EMD is $10,000 – Purchase Price is $765,000
Why is Residential Construction is Ripe for On-Demand Disruption?
With a record year for the on-demand industry in 2019, the big prediction for 2020 is that on-demand companies will expand to new industries.
This is happening now in residential construction. A common issue with residential construction is going over budget, not meeting deadlines and plainly losing (wasting) money primarily due to lack of communication.
Most contractors do not use project management software to keep their jobs in-line.
95% of all residential remodel projects end up in frustration. Homeowners go into a project excited about their contractor only to soon be in the dark about what is going on.
Check out: The new on-demand startup “Project Buddy” http://www.projectbuddyservices.com is the 1st of its kind and planning to revolutionize the industry: Creating completely transparent transactions between homeowners and contractors. Simply put, Project Buddy helps organize projects.
“After years of consulting in the construction industry I found that almost every job had a point where the client thought they were being cheated, it was almost always due to a simple lack of communication. Construction remodel projects are very organic and change daily. I started Project Buddy to help both Contractor and client stay up-to-date on a weekly basis.”
Project Buddy, from PGN Design Group, works with a cloud-based construction software that all parties have access to with their smartphone, tablet or computer. Project Buddy finally makes it easy for homeowners to follow the progress of their construction project from anywhere and makes it easy for contractors to keep their clients updated on day-to-day progress of their projects. It works with 5 easy steps.
Upload project information to Project Buddy cloud-based software.
Take daily photos of the project.
Create daily work logs.
Contact all contractors, subs and architects for scheduling purposes.
Create an “end-of-week” report for the project.
So who’s doing the actual work? Numerous “Buddy’s” manage jobs in the areas that they live in. They can work as much or as little as they want. Think of it as the “Uber for Construction Projects“.
The service will operate on weekly contracts so that there is no big commitment from homeowners or Buddy’s. For contractors, there’s no need to hire and train full-time employees only to have the burden of their salaries on the books when it gets slow.
At the end of each week, clients have the ability to either “opt-in” if they like the service or “opt-out” and we’ll see you on the next one!
Project Buddy will have the ability to do one or all of their jobs. The company is poised to disrupt the residential construction industry by helping smaller companies with growth, and larger companies with quality control. The price is $497/week for most projects, cheaper than the cost of a laborer sweeping up the site!
Why Use Them?
Lost Time = Lost Money
Cloud-based Software = Transparency, 24/7 access from any device.
Organize contractor = Get’s the Job Done on time and on-budget!
Weekly contracts = No Big Commitment
One low rate for any size project (single-family or multi-family)
Project Buddy has launched in Los Angeles and the San Francisco Bay area with expansion to other major cities in the U.S. later in the year.
Contractors/Developers – Instead of carrying a payroll employee as a superintendent, we can replace that cost, and we have no problem with working for 1 week..
Real Estate Agents – You know all of the Wholesalers, Flippers and Homeowners doing remodels, refer our service and receive a $497 referral for each.
Architects – You work with homeowners and flippers too, with our service, you can monitor the project remotely and not get left out of the circle. Refer our service and receive a $497 referral for each.
Hard Money Lenders – CLOSE MORE LOANS. We can act as a 3rd party service provider that can be financed and used as a kind of “insurance policy” Lenders can require their borrowers to use Project Buddy, and they’ll always know what’s going on with the project! Two words – Accountability Partner. Protect their loans. Fewer foreclosures will increase bottom-line. No COST to the Lender – You can build it into the loan (its a cost of doing business)
Owner Builders – You want someone to babysit the work-site, and you don’t want the job?
We’ll help week-to-week until you don’t need us anymore! You can see all the progress on your smartphone or preferred device, and read the notes left by the Buddy. Perfect Communication!
Book us for one job, for one week and you will quickly see how easy and smooth your job/s will run.
Here’s a duplex in L.A. near USC! The property is zoned LAR2, and is currently rented at below market rents, which is one reason we obtained the large discount from list price. The tenants can be relocated with the proper allowance, so take that into account when doing the math.
It’s a very nice street on the north end of South L.A., and has potential to be a great long-term income property once fixed and rented.
Here are the details: – existing two units 1/1 up and 2/1 down- 2168 square feet- lot size 5480 sf- EMD is $10,000- closing date is July 23- tenants paying just $500 each ($1000 total)
– Purchase Price is $450,000 (it’s currently listed for $510,000)-
Remodel cost guesstimate $80,000-ARV around $630,000