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No doubt everyone’s seen the popular reality TV shows on flipping homes. The San Diego real estate market has and continues to be a great one for flipping, but like every good investment program you have to know what you’re doing to avoid costly mistakes.
The Dalzell Group began working with our investors back in 2008/2009 when the market hit bottom. We had several personal clients who we’d helped buy and sell their personal homes come to us looking for a way to safely invest in Encinitas real estate and other coastal markets. By pooling their funds we’ve been able to successfully buy distressed homes, rehab them and sell for top dollar in a recovering market – to the tune of selling 22 rehabbed homes last year.
One of the most rewarding parts of the job is knowing that we are making our local communities better. We’ve had dozens of neighbors enthusiastically thank us for buying these old rundown Encinitas homes and bringing them back to their former glory – and they know that we have immediately raised the values in their neighborhood. A lot of times we’re even adding square feet or a second story so there’s significant added value to be had.
This Encinitas home is one that we’re very excited about. It was a home that never hit the MLS where the original owner contacted us knowing that we could pay cash and close quickly – giving him the equity he needed.
The biggest selling feature is its great location west of I-5 and just a couple minutes walk to Swami’s beach. Single level Encinitas homes for sale on large lots are also very much in demand. Of course it took some vision for its potential when we first looked at the property. Inside and out the home was in disrepair – you could hardly see the backyard, and it was littered with debris, scrap metal and overgrown weeds. The previous owner was a self-proclaimed hoarder with floor to ceiling clutter, narrow hallways and low ceilings. It basically needed to be gutted. But the floor plan was pretty open and we saw ways of opening it up even more.
Right now we’re finishing up the permit process with the city including moving the garage to open up the backyard. It won’t be long before the construction is complete and we already have a waiting list of potential buyers for what will be a gem of a property!
Jim and his wife Jo, have lived in Carmel Valley since 1987 and first got into the real estate business in 1992 after a successful career in the construction industry in South Africa. Kevin Dalzell joined the Dalzell Group Real Estate team in 2002 after playing professional rugby in Europe (represented the U.S. in two Rugby World Cups) and is now living with his wife, Nina, in Solana Beach. Ryan Dalzell coordinates the team’s marketing program, and he joined the group in 2004 after working as a flight instructor. Ryan lives in Carmel Valley with his wife Julie and their 3 children. Amber Worsham recently joined the team as the new Marketing Manager & Transaction Coordinator. With over five years of experience in marketing real estate in Coastal North County, Amber provides us with extensive expertise in the print, internet and direct marketing aspects of the business.