Updated over 3 years ago on . Most recent reply
Live-In Cosmetic Flip
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $330,000
Cash invested: $3,000
Sale price: $380,000
This was a light cosmetic live-in flip located just outside the city limits of Chicago. I did all of the work myself of cleaning up an overgrown exterior landscape, removing outdated mirrors from the walls, fixing spots on the walls that had gobs of adhesive (to hold up the mirrors), painting, and fixing a ventilation issue near the furnace. I turned around and sold it 11 months later for a $47,000 profit (before capital gains tax)
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I represented myself on the purchase and the sale because I am a licensed realtor. I worked with Blueleaf lending based out of Freeport, IL