Speedy NEWS

Speedy Group’s Los Angeles real estate listing: Santa Clarita (4bed/2bath) currently undergoing renovation!

 

Speedy Group’s Los Angeles real estate property is located in Santa Clarita.

This property has a house plan of 4 bedrooms, 2 bathrooms.

It is within commuting distance to Santa Monica and downtown. (30-40 minutes by car without traffic.) It seems like a nice place to live, with good public safety and a good school district. I bought it without being able to see it because of the COVID pandemic, but it turned out there were various issues with it.

Immediately after the purchase, a squatter trying to sublease the property was discovered!

I immediately went to the courthouse to ask for an eviction order, but it was closed due to the COVID pandemic. This spring, when I thought the proceedings would finally begin, there was a line of people waiting that was a year long. However, my trusted real estate agent friend was really stirred up and managed to secure an early eviction order!

Then, when I looked inside the house, I found that the interior had taken quite a beating.

The floor and some walls were damaged. In the kitchen, the leaking sink and the plumbing had to be fixed. Most of the cabinets were gone (possibly sold?), so after taking them down and throwing them away, I had to do drying work, then spray a fungicide to prevent mold growth, and take out the trash.

However, once again, my amazing real estate agent friend was able to negotiate with the insurance company about the damages and expected lost rental income during the period before the eviction, and the insurance covered it. I can’t thank them enough!

With that seed money, I began renovations. (This is where I am at now.)

Replace all the floors, paint all the walls, get all new appliances, completely renovate the kitchen, and do all the bathrooms.

The goal isn’t to do a little cosmetic work to make it rentable, or use a cheap vinyl floor that tenants can live comfortably with, but to install a high-end, fully waterproof laminate floor.

Replace the door handles with L-shaped handles. Upgrade the appearance by using the latest appliances. Change bathroom and kitchen outlets to GFCI for safety. Remove the island making the kitchen too cramped. Completely repaint the dark and unfriendly garage.

Floor: French oak (more popular than grey oak)

Cabinets: White at the top, Midnight in NY at the bottom

Countertop: Marble-like white quartz

Handles and faucets: Black (black rather than gold for something you won’t get tired of)

Fireplace: white base, dark brown for wooden parts

Base moulding: 5″ simple type

To maintain the real estate value for a long time, the bathroom vanity and kitchen should be a little more luxurious. All of that was done by my awesome friend. I’m so impressed!

I plan to show it as a rental house when the renovation is finished.

Real estate prices in Los Angeles are going up fast during the COVID recovery.

I’m thinking of renting for about $3,500 (about ¥380,000) a month.

https://www.redfin.com/…/24223-Lema-Dr-91355/home/6044820