Highlights
- Quick return of capital: target closing and renovation in under 12 months
- Strong track record: past projects have generated 15%-50% returns
- Home values in the area have appreciated by 86% in 10 years
- Experienced LA house flipper who has completed and sold 15+ projects
- Desirable location: close to Silicon Beach tech hub (Google, YouTube, etc.)
- Follow the renovation step-by-step www.instagram.com/amdreamhouse
The property
"Before"
The property at 7810 Boeing Avenue is currently a 1,722 square foot, 3-bedroom, 2-1/2 bath single family home on an approx. 9,290 SF lot with a pool.
"After"
After the renovation, the property at 7810 Boeing Avenue will be a 4-bedroom, 3-1/2 bath approx. 2,000 S.F. single family home on an approx. 9,290 SF lot with renovated pool and outdoor entertaining space.
The plan for the renovation is as follows:
- Addition of 217 square feet to the property making the total square footage 1,939 square feet and turning it into a 4 bed/3.5 bath home.
- Addition of a 152 square foot front porch to increase curb appeal and make the exterior a single family white farmhouse (very desirable by buyers in this neighborhood).
- Replace stucco facade
The flipper
Hi—I'm Megan Blu! I'm a residential designer and developer of premier custom homes. I work primarily in Los Angeles and have flipped over 15 homes in the area. I am a firm believer that rooms shouldn't take themselves too seriously, and I strive to achieve warm, elegant looks with the occasional sense of whimsy. Whether the project is a full scale remodel or ground up new construction, I am involved in every step of the design process (and if you follow my journey on this pilot of American Dreamhouse, you'll get to watch it all unfold!) I work with architects and contractors to ensure that my vision is brought to life. I am a San Francisco native and graduated from the University of Southern…
My vision
Fresh, updated, farmhouse-inspired interiors are extremely desirable for buyers in the area. We'll use certain high end finishes that buyers are used to seeing on their social media feeds to give the home a curated, custom designed feel.
The offering
You've obsessed over fix & flip shows—from the finishes to the furniture, the transformations are mind blowing. But there's never been a way to participate in the process... until now.
This is an opportunity to invest in 7810 Boeing Avenue pre-renovation and participate in the potential profits we realize from the flip. We are offering membership interests in 7810 Boeing Ave LLC to Republic investors.
We have secured a total of $1,138,000 of financing from Goldman Sachs and from a private investor.
Returns
Republic investors will receive approximately 10% of the project profits. Based on an estimated sales price of $1,800,000, we are estimating that the project will realize profits of approximately $164,000.
The location
The Westport Heights neighborhood of Los Angeles can best be described as the suburbs in the middle of the big city. Its gently curving streets, tidy homes, and well manicured lawns create a small town feel. Located on the Westside of Los Angeles north of LAX, south of Playa Vista and west of the 405 freeway, Westchester was largely undiscovered as a hot spot for housing until the post 2008-recession. Westchester’s close proximity to tech hubs in Venice, Playa Vista, Culver City and El Segundo make it an appealing home-buying destination for technology workers.
Los Angeles is the second largest city in the United States and the third most populous city in North America, with more than 13 million people in the metropolitan area.
The market
Neighborhood Transformation: Silicon Beach
Playa Vista was once called "the largest and most valuable undeveloped land parcel in the country" and Westchester has been a huge beneficiary of the development.
Phase One of the development Playa Vista broke ground around 2001 as a mix of affordable and luxury housing, commercial, and office space. Everything was manicured and brand new—the typical urban characteristics such as power lines and telephone poles were neatly buried underground. Millenials, young families and move down buyers alike were instantly drawn to the walkable lifestyle of this master planned community. It had a beautiful new library, clubhouse with pools and gyms, dog parks, sports facilities, parks, and a new elementary…
Track record
Portfolio
Select Projects
I have been involved in the design, development and construction of over 30 houses in Los Angeles. My background in development and design has served as a competitive advantage. Each house I produce is unique with custom touches and attention to detail that generates above-market returns. My ability to productize this "Instagrammable" aesthetic and make it a repeatable, cost-effective process has driven buyers to pay higher prices upon completion.
Chase Avenue
This Westchester house produced a whopping 136% annualized return for the investors. The original house was seriously lacking in curb appeal. The addition of a front porch, new windows and siding and an interior overhaul made for a really stunning "after."
The concept
American Dreamhouse is the first-ever tap-to-invest house flipping show created by Republic Real Estate that documents house flippers from around the country. In this season, we will follow Megan Blu’s vision unfold and track her renovation process for this Los Angeles single family home through short format 30- to 90-second episodes on Instagram that reveal Blu’s vision for the fixer-upper.
Republic Real Estate's production of the Show and the Offering's participation thereon is not an endorsement, recommendation or otherwise advisement of the suitability of the investment opportunity presented.
