1st flip completed 2nd and 3rd under renovations!

2 Replies

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%

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