I acquired my first investment property in 1982. It was an old Craftsman-style house that I didn't see as a mere project for flipping. Instead, I viewed it as an opportunity for restoration. I was meticulous and thorough in my approach, recognizing the quality and value beneath the dated finishes and necessary repairs. I undertook comprehensive renovations, from updating the plumbing and electrical systems to revitalizing the landscaping. These weren't simple upgrades; they were ground-up renovations. I meticulously refinished the hardwood floors, re-plastered the walls, added modern amenities such as washer-dryer units and updated the appliances, plumbing, and electrical systems. My focus was on maintaining the same quality and care in the renovations that the properties were originally built with.
In a Hollywood neighborhood that, at the time, was not as well-kept, I took it upon myself to work with my community to invest in our neighborhood and improve the community's curb appeal. I landscaped neighbors' lawns for free to create a more attractive environment. I engaged with my fellow community members, fostering a sense of pride and collective responsibility for the neighborhood's upkeep. As my first property took shape, it was clear that this wasn't just an investment; it was a mission to restore the intrinsic value of these homes. Buoyed by my initial success, I continued to purchase and restore homes in the same neighborhood, expanding my portfolio. In the early days, I rented out my properties, initially to community members and acquaintances. My move to Los Angeles had begun with a mere $10,000 in my pocket, but I was determined to build my career and life from the ground up.
I always recognized the significance of a Realtor®, not just as an agent but as a valuable partner in the real estate industry. My next project was the acquisition of a Spanish-style courtyard property built in the 1930s. The charm of this 6-unit building was truly captivating, thanks to its original Art Deco tiles in the bathrooms and kitchens, a feature that other developers were not investing in. I decided to own it permanently because I was so enamored with its character. Living on-site at this building, I cherished my experience as a landlord because of my profound affection for the property. I undertook another ground-up restoration, from earthquake protection to electrical system updates. I revitalized every detail, including restoring the original 1930s tiles, furnishing each unit with washer-dryer units, dishwashers, central HVAC, and private garages, and installing a gate around the property to enhance privacy.
This unique blend of investing and real estate eventually led me to the other side of the professional relationship. I have been a principal investor, selecting, buying, restoring, and selling multi-family properties, turning remarkable profits, but I couldn't have accomplished this without the guidance of my close friend - my Realtor® - who played a pivotal role in finding properties with value and potential, and selling them to the right buyers for a profit after restoration.
JOHN CHRISTOFFERSON, REALTOR®
DRE: 02211909
Copyright © 2024 John Christofferson, Realtor® - All Rights Reserved.
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