Have Questions? – Post in the comments section below
Here are other similar projects before, during, and after to get a “feel” about this flip:
Harding – Before Video
Mid Project (not ours but gives you the “feel”)
A Finished House
- Contract status: Under contract
- Listing price: $280,000
- Purchase price: $265,000
- Rehab: $200,000
- Purchase + Rehab + Holding (total all-in): $490,000
- Renovation duration: approx. 8-9 months
- Project duration (closing to closing): 10-12 months
- Projected selling price: $640,000
- Projected net profit to investor(s) (before taxes; after profit share): $68,000
- As always, this flip is first come, first serve.
- All flips are eligible to be converted to long-term rentals; contact SDI for more details.
- These are projections, not guarantees
- Contract date: Jan 12 2018
- Answer needed from interested investor(s): ASAP
- Submit non-refundable deposit: TBD
- Fund project account: TBD
- Purchase-closing: Feb. 15 2018 (not final)
- Planned listing date: 10-12 months from purchase
Investment Experience Needed
Simply Do It’s flip system is setup so the investor doesn’t need to have past experience or quit their job!
Simply Do It has trusted and vetted teams on the ground to do all the heavy lifting so you can stay informed and updated but passive.
Your Next Steps:
- Post your questions below in the comment section at the bottom (or email email@example.com)
- Let us know if you are interested to participate.
- Let us know which financing option (see below) is most relevant for you and approx. how much you have available.
There are several options to purchase this flip:
- One investor – all cash.
- One investor – using conventional plus mortgage.
- Small group (up to 4 investors) – requires the group to work together to raise the full amount required.
- Private crowdfunding – large group with multiple investors. Minimum amount: $35,000
- Joint venture of a private equity fund.
- For options 3 through 5 – funds can be invested in the form of cash and retirement funds.
|Financing Option||Title Vesting|
|1||One investor – all cash.||Investor|
|2||One investor – using conventional plus mortgage.||Investor|
|3||Small group (up to 4 investors) – requires the group to work together to raise the full amount required.||
LLC or a Trust
|4||Private crowdfunding – large group with multiple investors. Minimum amount: $35,000||
LLC or a Trust
|5||Joint venture of a private equity fund.||
- Simply Do It is partnered with a passive Private Equity (“PE”) firm.
- To the funds needed for the project, the Private Equity brings 85%.
- You, the investor, bring 15% of the funds plus set-up fee: $77,000
- There are no mortgage payments, or any other payments until the project is completed.
- Profit will distribute as follows:
- Preferred Return (7%) on PE capital amount
- Total capital amount paid by PE
- Total Preferred Return (7%) on investor’s capital amount
- Total capital amount paid by investor
- Of remaining net proceeds, fifty percent (50%) to PE and fifty percent (50%) to us (Investor, Simply Do It, and the Local Team – see profit sharing below: 60% / 25% / 15%)
Projected Profit Analysis
|Private Equity’s Contribution||85%||$402,475|
|Setup fees to SDI & local team||$5,000|
|Total from investor (you)||$76,025|
|Net Selling Price||$601,600|
|1st Tier Distribution (with PE)|
|Preferred return to PE||7%||$28,173|
|Return of PE’s investment||$402,475|
|Preferred return to Investor||7%||$4,972|
|Return of Investor’s investment||$71,025|
|Net before Split with PE||$94,955|
|Split with PE||50%||$47,478|
|Profit Sharing with SDI & Local Team||$52,449|
|Simply Do It (Facilitator)||25.00%||$13,112|
Simply Do It has a conventional lender that can lend for the purchase and renovation.
- Simply Do It has many investors who want to participate in such a flip.
- Some of those investors have limited funds to participate alone.
- Simply Do It can put together up to four investors for this flip.
- If this is a relevant option for you, let us know you are interested and how much you would like to invest.
- You do not need to ask your friends to join, unless you want.
Private crowdfunding is a way to enable more investors with a lower investment amount on one deal.
Funding goal: $490,000
- If this is a relevant option for you, let us know you are interested and how much you would like to invest – based on the matrix.
- Minimum amount: $35,000
Funding Costs Matrix
|Investment Amount||Setup Fee||Total Needed|
Scope Of Work
This is a general plan of the work:
- This house has 3 floors: Basement, main and 2nd floor. Currently, only the main and 2nd floors are used as living spaces.
Full second floor or dormers to the second floor will be added to make it available for 3 bedrooms and 2 bathrooms including a Master suite.
- After the renovation, there will be three fully livable floors: Basement, main, 2nd floor .
- All interior walls, roof, and the rear exterior wall will be demoed. This will leave room for a large addition on the back of the house plus extending and re-configuring the top floor.
- Brand new underground plumbing, supply and drain side plumbing, updated electrical with two hundred amp service, and a split system HVAC upgrade.
- House will also get new windows and siding.
- New cabinets in the bathroom and kitchen, to match the high-end finishes in the neighborhood.
- When complete, the house will be 5 bedrooms, three and a half baths including a master on-suite bathroom. The entire first floor will be opened up to a spacious layout. An impressive wood staircase will be constructed.
- The first floor will have space for a living room and dining room along with a large eat-in kitchen.
- In addition, a bedroom in the basement, with additional living space, will be created.
|Garage||2 car||2 car|
Read more about Albany Park
it’s in a hot neighborhood raped by Horner Park in Albany Park. Very sought-after area in Albany Park.
Financial Analysis (Cash)
|Estimated Renovation & Holding||$200,000|
|Prop Taxes, Insurance & Staging||$6,500|
|Target Selling date||2/16/2019|
|Target selling price||$640,000|
Profit Sharing (Cash)
|Simply Do It (Facilitator)||25%||$30,775|
|Investor’s Return On Investment (ROI)||15.44%|
|Address||Sold On||Year Built||SQFT||Beds||Baths||Sale Price||$/Sq. Ft|
|335 N Albany Ave , Chicago, IL 60618||N/A||1906||3,000||4||3.5||$ 644,998||$215.00|
|Ref||Address||Sold On||Year Built||SQFT||Beds||Baths||Sale Price||$/Sq. Ft|
|1||4247 N Richmond St||2,850||5||4.0||$ 617,000||$216.49|
|2||4508 N Troy St||4,050||7||3.5||$ 650,000||$160.49|
|3||4229 N Albany Ave||2,459||4||3.5||$ 661,500||$269.01|
|4||4306 N Albany Ave||2,750||4||3.5||$ 669,000||$243.27|
|5||4443 N Albany Ave||3,200||4||3.5||$ 670,000||$209.38|
|6||4250 N Francisco Ave||3,700||4||3.5||$ 708,000||$191.35|