Updated over 5 years ago on . Most recent reply
Fix and Flip properties in NW Chicago
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $260,000
Cash invested: $125,000
Purchased 2 bank owned homes 3 miles apart for fix and flips.
What made you interested in investing in this type of deal?
Distressed properties with good ARVs in high demand areas
How did you find this deal and how did you negotiate it?
Found them on the MLS and 1 was a hoarder house so we offered to clean up the property and got it under contract for 20,000 less than the highest bidder. The other property was bank owned and we offered cash and to close quickly.
How did you finance this deal?
Cash
How did you add value to the deal?
Complete gut and rehab plus dormers to add sqft.
What was the outcome?
TBD
Lessons learned? Challenges?
TBD
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Maggie Antillon-Mathews