Today we’d like to introduce you to Tom Tarrant.
Tom, please share your story with us. How did you get to where you are today?
I was born in Houston, Texas and moved to San Diego in the 80’s to go to college after vacationing here in high school to surf. We have been in the remodeling and residential rehabilitation space since 2003. Coming from a real estate and construction family, House Flipping was a natural path for me. 15 years ago I bought my first fixer-upper property in Clairemont and remodeled it for resale as a speculative venture. Green Button Homes was founded in 2011 as a small family owned real estate investing company which specializes in the redevelopment of San Diego residential properties. After years of doing most of the work myself, I finally scaled up by hiring team members and have increased our volume. In 2017 we bought over 50 homes here in San Diego County direct from homeowners to fix and flip. I don’t do any of the work personally anymore but it’s very rewarding to make such an impact on a neighborhood and be a part of transforming our local community one house at a time
Has it been a smooth road?
There have been multiple challenges in both the real estate market as everyone knows as well as continual construction related part of our business. One thing I have learned over the years is to remain flexible and be able to adapt to changing conditions. Having good team members and taking the time to do things right have always been paramount for us. Scaling a business to buy multiple homes a month also requires a lot of capital so it’s a continual effort to line up private money to allow our growth. Flipping houses is not like you see on TV. There are a lot of issues that pop up along the way but being a general contractor I am usually able to address them without breaking the budget. We are in a healthy market cycle now with low inventory. Most of the foreclosures have dried up so it becomes harder to find fixer-uppers that meet our criteria.
We’d love to hear more about your business.
Green Button Homes was founded in 2011 although we have been in the business since 2003. I am a general contractor and flip houses here in San Diego County. We go all the way from Oceanside down to Imperial Beach. Most of our business is from residential fix and flip but I have also done new construction and major room addition home remodels. While most of the homes we remodel do not have any architectural significance, I have had the opportunity to make a big difference locally with respect to historic preservation of a few of our precious assets. In 2012 we restored a 1908 Victorian home in Grant Hill, San Diego I dubbed the Panted Lady. Working closely with the City of San Diego Historical Resources and Save Our Heritage Foundation we brought this great old San Diego house back to life.
I have bought 100’s of homes here in San Diego. Most of the homes we buy are in close to original condition and are from sellers looking for an easy way to get a fair price without paying realtors and having a bunch of people through their house. We have built a reputation of following through and being that trustworthy cash buyer that provides a hassle-free option when selling your house in San Diego. Being a general contractor we are different that other investors who might not know what they are looking at when they walk through your house and have to get bids on the remodeling. Since we always buy As-Is our clients never have to worry about fixing things or even getting termite tenting before the sale. I am always proud to be able to provide a solution and help people by creating a win-win solution for both of us.
Our projects always get a lot of attention because I am known for going the extra mile and taking the time to do things right and maybe over improving a bit, whereas most house flippers do the bare minimum. Being in the trades I am able to stretch my budget a little farther which allows me to use nicer finishes in their homes.
Is our city a good place to do what you do?
The San Diego real estate market is about 3/4 of the way through a great cycle. We have seen price appreciation since 2011 and several recent years with 5-6% growth. The downside is that some buyers get priced out of the market but the City has several new ballot measures to address the real lack of affordable housing. One recent passed measures to relax the building codes and allow granny flats in their backyard or over their garage. Granny flats are part of the “smart growth” plan here in San Diego to add more dwelling units without any new land and is hailed as the easiest way to add more inventory.
With all this said it is not as easy to build or develop real estate anywhere in California as it is in other more business friendly states. You will easily spend $40,000 in permits before even starting to build a new home here. San Diego Cash Homebuyer companies like Green Button Homes find it increasingly difficult to find fixer-upper properties. It seems these days there are fewer people looking to sell and move up. Most of our clients are cashing out and leaving the state for other retirement locations with lower taxes.
I would suggest anyone looking to get started in real estate investing to seek out an experienced mentor to guide them through the process. With the price of a fixer upper in San Diego being so high, there are plenty of ways to have your project turn into a disaster without having the construction experience. Big risks can sometimes produce big rewards but it’s not always smooth sailing like you see on TV.
Contact Info:
- Address: Green Button Homes
1042 N El Camino Real B115
Encinitas, Ca 92024 - Website: www.greenbuttonhomes.com
- Phone: (619) 438-0234
- Email: tom@greenbuttonhomes.com
- Facebook: https://www.facebook.com/greenbuttonhomesLLC/
- Twitter: https://twitter.com/tomtarrant
- Other: https://www.houzz.com/pro/tom-tarrant/green-button-homes
Image Credit:
All images courtesy Green Button Homes
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