MOST RECENT FLIP SOLD IN 10 DAYS!

[Marcin Chojnacki]

Most recent deal under contract! Will be listing a Joliet and Wheeling property soon. Rehab them right, price them right, and sell them fast!

On to the next one :)

Streamwood IL Property.

Numbers:

Purchase Price: $88,000

Closing Costs (Purchase): $1,200

Holding: $600 (Bank gave an additional $2,000 tax credit at purchase closing..shhhh). 

Rehab: $39,000

Commissions: $4,350

Closing Costs (Sell SIde, EST): $2,500

BREAK EVEN: $135,650

SOLD FOR $174,000 NET ($179k with a 5k credit).

PROFIT: $38,350

[Marcin Chojnacki]

@Shannon K. I'm not 100% sure what the floors are called. It's a laminate tongue and groove type flooring. It's a floating floor (no nails or glue, cheaper for install labor). As long as you leave expansion gaps (as recommended by manufacturer) by the walls it never has issues with buckling or coming apart. We don't go too dark (no chocolate) as then every spec of dust is visible. We also make sure that there are grooves on the joints where the floorboards meet (this gives a greater impression of real hardwood, beveled edges in other words). These were purchased at floor n decor (tile and flooring store in Chicago land area). Home Depot lately has affordable decent quality flooring. 

Hope that helps.