Suzy Roberts

Q Properties LLC in Playa Del Rey, CA

Overview: 3 Bedroom / 2.5 Bathroom / 2046 Sq Ft / Built in 1956 / Baldwin Hills Estates - Los Angeles, CArnrnFound: I found my deal by networking in a real estate class. I met someone whose Mother-In-Law had a listing on the MLS and he said they were still accepting offers. The listing was pre-foreclosure, it was under contract with another buyer, but that deal fell through and they accepted my offer. Listed $875K, reduced to $850K, I offered $825K and it was accepted. I used my rockstar agent, it was a 10 day close, no contingencies.rnrnFunding: I have a PML (my parents) who invested on a portion of the deal. I was referred to a HML through a local FortuneBuilders Mastery investor. The HML funded 70% ARV and 100% repairs. $770K. It was a very smooth process and would use them again.rnrnRepairs: I found my contractor through another Mastery investor. My contractor had already been on several site visits with me over the period of one year prior to us landing this deal. (We had lots of practice!) The property was dated and had not been maintain, it was occupied but they were moving out as soon as it was sold. I did small layout changes, removed 2 walls and updated the entire property. NEW: landscaping, fence, windows, electrical, some plumbing, HVAC, appliances, kitchen, all bathrooms, flooring, interior and exterior paint. $120K / 5 months.rnrnSelling: I used my rockstar agent to list the property. It was listed on the MLS on a Wednesday, we had 2 private showings on Thursday, we had an open house on Saturday (50 pp) and Sunday (75pp). We received a total of 4 offers, all over ask, we countered Last and Final with all offers, they all increased their offers. We accepted an offer that was not the highest but had a 25 day escrow, and only a loan contingency. We closed on time, $61K above list. Listed at $1,099,000 Sold for: $1,160,000