Our 2nd Project ...the worst so far!

Brande Project #2

On our 2nd project, we knew we were in for it. Considering it took another 100+ offers to get this property, and the listing agent pretty much lagged around even though he had our "all cash" offer for at least 30 days before. We knew what we were getting ourselves into. However, the house is located in a nice pocket neighborhood in Anaheim, near a nice park, corner lot, 1900 sq. ft, 5 bedroom 2 bath home. This house was a major fixer. It had an outdoor kitchen, outdoor bathroom, and at one point, there were 18 household members and 8 parked cars on the driveway according to neighbors. We were lucky to attain a private investor on this deal to preserve some profit margin, however our contractor underbid both our timeline (2+ weeks over) and labor budget ( 50% over the bid). To make a long story short, THIS PROJECT WAS A TEST!!!. Do we have the guts and the nerves to deal with this type of dilemma? We took the "it happens and it happens to the best of us" attitude, which we know should serve us well in future deals, but there's no way that we will make the same mistake twice so we'll evaluate and remedy the misstep from our game plan. After 2+ weeks of having a busted timeline (the budget is another story), working on the house until close to midnight painting, cleaning, which pretty much feels like ironing a shirt that was sitting in a hamper for weeks, we forced an open house and sold the property to another ALL CASH buyer that came to the first open house. We had priced the property higher due to our busted budget and received an all cash bid of $430k, which is approximately 99% of our asking price. The deal closed in 2 weeks and we profited!!!
Purchase Price: $303,500
Rehab Costs: $60,000
Re-Sale Price: $430,000
This house turned beautiful...just look at the pics and see for yourself, she's a beauty. We know from this point forward that we should be able to withstand any project we have in the future...

Purchase Date January 20, 2009, Close of Resale April 10, 2009. TOTAL PROJECT TIME: 2 Months and 2 Weeks.

Below is the BEFORE AND AFTER photos of BRANDE PROJECT #2