So after years of owning rentals I finally took the plunge! I, with my brother and a couple close friends, have been investing in buy and hold rentals in illinois for about 5 years. Of course, like any investor we wanted to try our hand at flipping houses. The reason for this was two fold. 1) apartment prices have gotten outrageous and we only try and buy outstanding deals. 2) we all want to get into larger multi families (20+ units) and feel this would be a great way to build up some cash to finance those goals. Below are a few pictures of the finished product. Feel free to ask any questions and I will try and answer to the best of my ability!
purchase price 50k
rehab budget 60k
actual rehab cost 66k
total time 6 months
total profit $9,280
total return 8%
Looks great. What market is this in?
Thanks, and it was in Woodstock, the other two we are currently working on are in Hampshire and Marengo.
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