Realtor's perspective on finding a good fix and flip property
1.
2. • Introductions
• How to Find and Evaluate a Good Fix and
Flip Property.
• How to develop a successful relationship
with your realtor?
• Q & A
• Thank You
3. • Location , Location,
Location
Corner lot, busy
intersection, near
commercial, apartments
• Know your Schools
API (Academic
Performance Index)
Scores based on 1000
points. i.e Cupertino 900+
• What drives people to
the community?
Is it schools, charming
downtown, community
spirit, larger lots?
• Know the style of
the neighborhood
and community.
Are you planning a
contemporary style home
in a Mediterranean or
traditional neighborhood?
4. • Tear Down – New construction potential to be
best home on the block or are there other newly
built homes within a ¼ mile radius? Time involved
in building; what will the market be like when
project is completed?
• Remodel – Quick turnaround and better
opportunity to time hot market or does project
extend beyond completion date because of many
unknowns that require more work and expense.
• Vacant Land – How much additional costs
involved vs. tear down or remodel, plus time?
5. 2431 Plummer Ave., San Jose
$674,000.00 Sold
02/08/2012
2431 Plummer Ave., San Jose
Work in progress!
6. 1931 Cabana Drive, San Jose
Sold - $820,000.00 – 3/31/2012
1931 Cabana Drive, San Jose
Sold - $1,650,000 – 8/23/2012
7. 2517 Gerald Way
Sold $767,000.00 – 08/30/2011
2517 Gerald Way
Sold $1,183,000.00 -05/17/2012
8. 2575 Richland Ave
Willow Glen
Sold - $757,000.00 5/31/2012
2575 Richland Ave
Willow Glen
Sold - $1,165,000 – 09/10/2012
9. 21216 Bank Mill Road,
Saratoga
Sold $885,000 – 12/21/2005
21216 Bank Mill Road,
Saratoga
Work in Progress! Approx
$4M
12. 2498 Westgate, Willow Glen
Purchased for $1,3M in 2007; sold for
$1,835,000 in 2009. Originally on market for
$2,975,000.00
1715 Willow Street , Willow Glen
Purchased for $500,000 in 2005; sold for
$1.600,000 in 2007. Originally on market for
$2,095,000.
13. • Check recent sales for
past 3-6 months within
the same neighborhood
and or comparable.
Usually within a ¼ – ½
mile radius
• Compare apples to
apples.. Lot size is
important as well as age
of home.
• Know the neighborhood
and style. What type of
materials are preferred.
• Evaluate floor plan – Will
it appeal to a majority of
buyers or is it too
specific.
• Size of home and
available yard. Again,
know your neighborhood.
Important in Willow Glen,
maybe not in Mountain
View
• Select neighborhoods
that are customized
versus tract style
housing.
• Marketability – When will
18. What is the Value Add?
• Project Management Skills
• Resources – Contacts within City/County Planning,
Stagers, Designers, Networks with other Agents, trade
recommendations such as contractors, painters,
landscapers, etc.
• Team Player –Communication from all parties.
• Provides necessary information to client/investor
such as comps, school scores, neighborhood pros
and cons.
• Honesty – Is this truly a good project with projected
ROI.
• Marketing – MLS, On-Line, Internet and Real Estate
Sites.
19. Use your Realtor as a resource
Understand the market ..
Is it competitive?
Will there be multiple offers?
Has the property been on the market a while?
Can you negotiate?
20. Long Escrows!
How will market activity be when the project is
complete and predicting exit value?
22. Ruby Foote
Coldwell Banker
1712 Meridian Avenue
San Jose, CA 95125
408-823-3234
Ruby.foote@cbnorcal.com
http://rubyfoote.com
Amy Paris
4 Square Development Co., Inc
1155 Memorex Drive
Santa Clara, CA 95050
408-390-0343
info@4squaredevelpment.com
http://4squaredevelpment.com
