Headquartered in San Diego, California, Black Chip Housing, LLC is a homebuilding company currently focused on the purchase, rehabilitation and sale of "like new" renovated homes. The Company has assembled a team of seasoned personnel with extensive homebuilding and home renovation experience and has millions of dollars of capital allocated for the purchase of homes on an all cash basis.
STRATEGY AND OPERATIONS
The Company targets single family homes 20 to 40 years of age and is focused on the first time and move up buyers seeking a newly renovated home. A part of Black Chip's strategy is to seek homes that other buyers are unable to purchase because of a construction issue that the Company can resolve with its construction expertise.
With a business model focused on risk reduction, Black Chip prepares a thorough neighborhood (niche) market analysis and using the Company's costing model, we determine the property’s rehabilitation improvement budget prior to purchase.
By utilizing the “residual approach” in the purchase of its homes, all costs and the Company's required profit contribution are subtracted from the Company's “as built” valuation model to determine the desired purchase price.
Black Chip presently operates throughout San Diego County, California, a Standard Metropolitan Area (SMA) with approximately 3.2 million people.
In today's market environment and in the future with few new homes being produced in San Diego County, because of land constraints and costs, the Company believes that its "like new" renovated homes will compete very favorably.
The San Diego County market now has an opportunity with the resumption of job growth to begin appreciating in value once again.