Roselle, IL · Member since 2015 · 165 posts · 143 votes
JOLIET IL
Purchase Price: $52,101
Rehab: $33,000
List Price: $134,900
SOLD IN 1 DAY FOR $135,900!!!!
Full rehab, client decided to cut some costs on granite (against our advice). Salt and pepper granite is not a hot commodity. Regardless, property was sold in one day and the return on this one is HUGE! :)
Severna Park, MD · Member since 2013 · 7k+ posts · 7k+ votes
10y
And that house in Maryland in the 21146 zip code would have been $ 475,000 done . But if the house were burned to the ground just the lot would fetch $ 195,000.
Nice job , I wish the purchase numbers here were that low .
Roselle, IL · Member since 2015 · 165 posts · 143 votes
10y
@Percy N. Here are a few. Exterior didn't need much as it's association run. It wasn't in THAT bad of shape overall. Rehab came out to be 33k due to the size (1700 sq ft. with 3 bathrooms) and a decent amount of drywall work. The only mechanicals that were done was a new furnace install.
Roselle, IL · Member since 2015 · 165 posts · 143 votes
10y
@Matthew Paul We have areas like that around here as well. The plus side is that there are also numerous of other good suburbs where the purchase prices are under 100k. We have a lot of areas to pick our battles in :)
@Matthew Paul We have areas like that around here as well. The plus side is that there are also numerous of other good suburbs where the purchase prices are under 100k. We have a lot of areas to pick our battles in :)
Under 100K in my county puts you in or right next to a war zone .
Rental Property Investor · Joliet, IL · Member since 2014 · 163 posts · 85 votes
10y
Small world, the guy who bought it works out at my gym, I was just talking to him yesterday about it. The rehab looked great and I love the materials chosen.
@Sam L. It is a very small world! I hope your colleague will be happy in his new home. Great value for the size!
@Matthew Paul Our war zone properties can be purchased for 10-20k! Huge difference. Out of curiosity what return are you netting on a 500k resale?
Since you make your money on the buy , its relative . But the competition for rehab properties in a my area is fierce . not much meat on the bone when you are done .
Beautiful and modern choice of finishes! Charcoal greys are in style for colors! Choice of finishes can make all the difference in getting TOP DOLLAR!
I buy in top-notch school districts where elderly people have now gone to assisted-living. The house is generally well taken care of and just needs the "modernization" and move-in-ready appeal to busy couples with kids. Profits are big on these kinds of deals.
Great job and thanks for the before and after photos!