Compare Listings

Investor Success

Challenge

Sometimes, closing a purchase transaction is just where the real work begins! In this case Adam’s clients were able to secure the purchase of a 1970’s build condo in Solana Beach, but the home was in original condition and needed a complete overhaul. Adam stepped into partner with the clients in a joint venture to completely transform the space and maximize the profits on a resale.

Solution

Adam had noted where other units in the neighborhood with the same floorplan had converted a loft/attic space into a large 2nd bedroom and bathroom. Herein lay the opportunity for highest and best use. Adam got to work with an architect to layout sleek new design, including a reconfiguration of the kitchen, creation of a new pantry, addition of laundry and even a new split-zone AC system. Adam managed the sub-contractors, dealt with the HOA, and maintained all the accounting for the project.

The Extra Mile

The project not only benefited the individual clients, but launched a wave of rehabilitation projects throughout the neighborhood and increased values for homeowners throughout. Beyond the profitability of the venture, the work put into this project truly was a catalyst for making the neighborhood a better place to live!

Result

The finished product was like nothing the neighborhood had ever seen. The contemporary design and modern functionality truly differentiated the home from any other sales in the complex. When it came time for the appraisal the comps inside the neighborhood were virtually irrelevant. It sold for a record price with a handsome return for the very happy clients.

President, Broker
CalBRE #01363100