Project HMB

 This came to us from a wholesaler. Large home on a large lot with pacific ocean views. Complete renovation including permit processing time too about 10.5 months.

Rehab Details

Financing Details 

As most of our projects are done, we fund part (70%) of the purchase with Hard Money. Remainder of the purchase and the cost of rehab is covered by our internal cash and out private investors. Our private investors lend against promissory note for a very good return.

Rehab Details

This was original house with original, dated finishes. House sits on a double lot (14 thousand sq ft), which is rare in that area and the house is also almost double of the average size house in that are.5 bedrooms, 4.5 bathrooms, large living, family, kitchen, laundry and dining rooms and a pool. 4293 sq ft, 14k sq ft lot, including unpermitted one room and half bath downstairs. Got the unpermitted room and bathroom permitted, split a large hallway bathroom to two full size bathrooms and connected one of those to a bedroom. Put a new roof, added a large roof top deck and 3 patio decks to capture the ocean views. Cleaned the long time unused pool and completely renovated the entire house (new kitchen, bathrooms, floors, roof, fireplace, many windows, painting inside-out and many more). New hardwood Floors, porcelain tiles, motion sensor lights & faucets, dimmers, remote operated fireplace, under cabinet lights, frame-less shower glass, the list goes on……… 

Finding the Buyer

Based on past experience, decided to list with a local agent. Broker tour and two open houses scheduled. A preemptive offer came in before open house, 100k over asking to a smooth 30 days close.

Retrospections and lessons learned

1. Like the MVP project, this too was far from our base. Have decided to keep the project as local as possible.

2. Adding 3 patio decks took the most amount of investment. Need to carefully create the scope of work.

Shout Outs & Testimonials

Thanks to Team Apace, our Hard Money and Private lenders. They all have been a great part of the success of this project.

Before & After Photos

Please check our HMB  Progress History Page  :   HMB- Progress History

Yajnesh Rai, Owner, Realtor

 BRE 01924991