Overview
Harding – Before Video
https://drive.google.com/open?id=16kARooB8BRbAvEYwjq0gaG1uXLjRzmuGOQ
Mid Project (not ours but gives you the “feel”)
https://drive.google.com/open?id=1qYflkp4sFzEnpBtjCYAEIyy5IKQ5oKkFTg
A Finished House
https://drive.google.com/open?id=1TaAKP98R740Vv9BeDBzcBCENW1RDbCF4dA
1909 N Keystone Ave Chicago 60639
- This is a project in which we took a 3-unit bill spread over four floors renovated each unit and converted it into a condo.
- When done this building will have 3 condos. The condos on the ground floor and the first floor are 2 bedrooms 1 bathroom on approximately 800 square feet. The condo on third and fourth floor are going to be three bedrooms two and a half bathrooms on approximately 1300.
- The project includes a full demo of the entire inside of the house, fully gutting it, and rebuilding each floor to the spec with new walls new kitchen new bathrooms new piping new electricity.
- The upper unit it includes removing an old staircase that was dangerous, and build a new one at the back of the house with balconies
- This building comes with a two car garage at the back of the lot. It is still undetermined how we will sell two car garage two three units but we thought it would be better to have a two car garage then none in Chicago
Plan for 1909 N Keystone Ave Chicago 60639
Update
Project has about 1 month delay and $17,500 (6%) over budget.
Explanation
When roof was demoed and opened it was apparent that the roof doesn’t have proper support beam. Which required additional drawings and plan approval by the city before progressing – approx. $12,500 additional expenses.
On some projects the city of Chicago requires to replace the sewer pipe from the house to the street – $5000. There is no way to tell in advance on a property if the city will require or not.
Before Photo
Current – Photos
4446 N Keokuk Ave Chicago 60630
FlipOnBoarding-N KeokukUpdate
Project on track with some delays, approx. 1 month, due to lender’s slow release of funds.
Before Photos
Current Photos
4644 N Harding, Chicago, IL 60625
Purchase date | 1/15/2017 | |
Listed for | $165,000 | |
Purchase price | $145,000 | |
Closing costs | $3,300 | |
Estimated Renovation & holding | $183,600 | |
Property Taxes, Ins, Staging, Utilities | $9,500 | |
Est. All-in | $341,400 | |
Target Selling date | 1/15/2018 | |
Target selling price | $520,000 | |
Sales commission | $31,200 | |
Sales expenses | $10,400 | |
Projected Profit | $137,000 | |
Project ROI | 40% | |
Profit Sharing | ||
Investor(s) | 50% | $68,500 |
Local team | 25% | $34,250 |
Simply Do It (Facilitator) | 25% | $34,250 |
Investor’s Return On Investment (ROI) | 20.06% | |
Duration (months) | 12 | |
Annualized ROI | 20.06% |
Update
Project has about 1 month delay and $2,000 over budget and it is estimated to be completed in about 1.5-2 months.