FIX AND FLIP COMPLETED, GREAT NUMBERS, CHECK IT OUT!

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FIX AND FLIP COMPLETED, GREAT NUMBERS, CHECK IT OUT!

Marcin ChojnackiPro Member
Roselle, IL · Member since 2015 · 165 posts · 143 votes

Palos Hills IL

Purchase Price: $177,351

Renovations: $53,000

Sales Price: $315,000 (305,500 net to seller).

PROFIT: OVER $60,000!

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Dustin Verley
Wholesaler · Newark, DE · Member since 2015 · 303 posts · 80 votes
10y

@Marcin Chojnacki

Any before photos?

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  • Marcin ChojnackiPro Member
    OP
    Roselle, IL · Member since 2015 · 165 posts · 143 votes
    10y

    @Arael Avinu we pick materials and decide on overall design. At each project a detailed material list is given to the contractors prior to start. We also give them drawing for layouts, light placements, and kitchens. The idea is to be as minimally involved while keeping progress on track and expenses within budget. Most questions and  clarifications are handled with photos/calls/or texts. 

    1Reply
  • Marcin ChojnackiPro Member
    OP
    Roselle, IL · Member since 2015 · 165 posts · 143 votes
    10y

    @Nathan Waterswe use a company that charges $240-$250 per window installed and capped. Send me a message and I'll give you their contact. I know of some people that get them done for less, they'll pick up the window at menards for $100 and pay someone $80-100 to install.....Yes there are plenty of companies that charge $750-$1,200 per window (same quality). We are currently buying a condo where the association is forcing us to use their "qualified and vetted" installer. The price for 5 windows and a sliding door is over $8,000!!!

    1Reply
  • Bony Mathew
    Investor · Charlotte, NC · Member since 2016 · 52 posts · 8 votes
    10y
    Wow this is amazing. Great work!
    0Reply
  • Kimberly Keesler
    Investor · San Francisco, CA · Member since 2016 · 29 posts · 8 votes
    10y

    Amazing! It looks incredible!  and only 2 months?  wow!

    0Reply
  • Rhondalette W.
    Dallas, TX · Member since 2014 · 517 posts · 106 votes
    10y

    The kitchen looks amazing! Nice profit.

    0Reply
  • Marcin ChojnackiPro Member
    OP
    Roselle, IL · Member since 2015 · 165 posts · 143 votes
    10y

    Thanks guys, much appreciated.

    0Reply
  • Terrell Hurston
    Los Angeles , CA · Member since 2015 · 9 posts · 2 votes
    10y
    That is motivation right there.... Great job
    0Reply
  • Bill Paesano
    Entreprenuer/Investor · Rochester, NH · Member since 2015 · 32 posts · 3 votes
    10y

    Came out awesome. That kitchen is fantastic.

    0Reply
  • Chris Krivanek
    Omaha, NE · Member since 2016 · 29 posts · 11 votes
    10y

    Looks nice man. 

    Now for my nit picky side... The black tile in the shower looks cool, but I would never want that in my own house, as water spots would always suck.  Another thing that looks great when you put it down, but turns crappy and faded pretty quick, is the red mulch.  As a remodeler, I have to think more long term for my clients. 

    1Reply
  • Ariel Goldenberg
    Investor · San Rafael, CA · Member since 2016 · 52 posts · 9 votes
    10y

    Great job!

    0Reply
  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    10y

    You mentioned reno took 2 months but didn't mention acquisition date and disposition date where the profit was realized.

    On your before pictures the date stamp is from July 2015 about 1 year ago. How long was the actual holding period on this property? The longer the hold period before profit is realized the more the return is spread out over time and reduced in some cases.

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  • Marcin ChojnackiPro Member
    OP
    Roselle, IL · Member since 2015 · 165 posts · 143 votes
    10y

    @Joel Owens the old photos are photos of the property when it was listed on the MLS. They are not photos I took. The property was closed on until end of January 2016. The total hold time was about 4.5 months.

    The longer the hold period on flips the lower the return is ALWAYS. Taxes, insurance, utilities eat at it. I don't think there's ever a case where this is not true. 

    Also a realized return of $60,000 is still a realized return of $60,000 (regardless of how long your investment took... When you calculate profit you should include all holding costs)....However the longer the hold period the lower your annualized return becomes. 

    0Reply
  • Nino AlfanoPro Member
    Contractor · Lemont, IL · Member since 2015 · 335 posts · 76 votes
    10y
    Looks great! Nice design! Would love that window company name as well Marcin Chojnacki
    0Reply
  • John Mathewson
    Developer · Hobart, IN · Member since 2014 · 773 posts · 225 votes
    10y

    @Marcin Chojnacki  Great numbers! IL seems to have some pretty good numbers coming out right now. Nice to see another local investor doing beautiful work in the area.

    0Reply
  • Marcin ChojnackiPro Member
    OP
    Roselle, IL · Member since 2015 · 165 posts · 143 votes
    10y

    @Nino Alfanosend me a message, will be happy to provide info. 

    @John Mathewsonyes Illinois has good numbers. Competitive but doable. I'm sure you know ;)

    0Reply
  • Nate ShieldsPro Member
    Lender · Fort Collins, CO · Member since 2015 · 304 posts · 148 votes
    10y

    Looks awesome Marcin. Job well done!

    [email protected]970-690-0644
    0Reply
  • Timothy Foster
    Chicago, IL · Member since 2016 · 25 posts · 3 votes
    10y

    Nice job @Marcin Chojnacki , I saw some of your other listings, hopefully, we will be able to do business together one day!  Keep up the good work!

    Timothy

    0Reply
  • Gayla Kemp
    Investor · Edmond, OK · Member since 2014 · 31 posts · 5 votes
    10y

    Looks good.  

    0Reply
  • Chiagozie Fawole
    Syracuse, NY · Member since 2015 · 100 posts · 87 votes
    10y

    it's gorgeous :)

    0Reply
  • Joy Williams
    Rental Property Investor · Chicago, IL · Member since 2016 · 30 posts · 12 votes
    10y

    Great job @Marcin Chojnacki!  Quality work. I'd love to have the name of your window company as well. Those prices are better than I've found. 

    0Reply
  • Daniel Walus
    Investor · Chicago, IL · Member since 2014 · 6 posts · 2 votes
    10y

    Great job! Good to know properties in that style, in that area can sell for premium price. I can tell you went above and beyond with the rehab quality. How was Palos hills building department to work with getting permits? 

    0Reply
  • Bob Hiltner
    Seattle, WA · Member since 2016 · 1 post · 0 votes
    10y

    Net to seller is a high percentage.  Are you an agent with your own buyer here? Open house?

    0Reply
  • Jonathan Bendickson
    Colorado Springs, CO · Member since 2015 · 23 posts · 5 votes
    10y

    Looks amazing! Both the house and the numbers, congrats.

    0Reply
  • Danny Carter
    Investor · Los Angeles, CA · Member since 2016 · 100 posts · 23 votes
    10y

    @Marcin Chojnacki Incredible job. I'm looking to complete my first flip this year and seeing your work and victory in the end is very inspiring. The home looks beautiful. 

    Marcin, as you complete many flips per year, is there a particular time of year you would advise me to not have a house on the market in? 

    It seems like the colder months would be much slower, but I'm not sure if that's perception or reality. 

    0Reply
  • Marcin ChojnackiPro Member
    OP
    Roselle, IL · Member since 2015 · 165 posts · 143 votes
    10y

    @Nate Shields Thanks! Much appreciated!

    @Timothy Foster Always open to ideas. Keep in touch. I will post projects regularly on here (didn't update BP much in the past).

    @Joy Williams shoot me a message. 

    0Reply
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