Larsen Real Estate

First Dana Point Flip

10/23/2013
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Back in August, we closed on our first flip in South Orange County.  It is a 2 bed 2 bath condo on Santa Clara Ave on the bluff overlooking the Dana Point harbor.  It was an REO and we purchased it for $468k.  It was pretty dated, but has some killer views from the complex.  Here are a couple before and afters:

photo 7photo 2 (2) photo 17 photo 1 (3) photo 3 (5)

After $35,000 of work, a couple of water leaks into the angry lady’s unit below, and lots of grief from the HOA, I listed it today for $589,000.

Come and get it!

-Bill


Auction.com: Friend or Foe?

11/21/2012
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Hello Investor world!
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Let’s start off by talking about Auction.com: They have grown at an incredible rate within the last few years and now are a big player in the Trustee and Reo aucton market place. In my opinion, however, their platform suffers from many flaws and continues to annoy experienced investors across the country. Professional investors all over are having their time and money waisted by the inefficiency of their platform, communication and requirements.
We are seeing many Beneficiaries beginning to use auction.com as the trustee, which is a big mistake…the institution just does not have the experience nor do they seem to want to streamline their procedures to make things more efficient and accommodating to the professional investor.
We are still waiting for our deposit on a property we were the successful 3rd party purchaser on where the Reserve was not met…it took 13 days just to see if the bank was going to accept or deny, and now it’s been over 2o days.
well, thanks all for litening to us vent about the nonsense with Auction.com, hopefully there will be some changes soon. Modeling the site after Ebay is not the right way to do it.

Stay tuned for next post regarding big hedge fund players trying to buy up every foreclosure they come across.
Happy Thanksgiving


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About author

I am William. I do commercial real estate. I do not make money. I think a lot. I spell poorly.

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