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2520 Ingersoll

Before Rehab

2520 Ingersoll Before 4
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Rehab Update

Jan 30 2017 (4)
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Details:

Address: 2520 Ingersoll St. Philadelphia, PA 19121
Property type: SFR, Flip
Purchase price: $35,000
Rehab price: $25,000
ARV: $90,000
Date of Purchase: 05/16/2016
Projected timeline for refinance or sale: 4 months
Managing Partner: Antonio Cerqueira
Contact Details: ACerqueira@EACGP.com; 857-756-4798
Ground Partner: ABC Capital Investments, LLC
 

Documents:

PROFORMA

AddressProperty typePurchase PriceRehab costARVDate of PurchaseProjected timeline for
refinance or sale
2520 Ingersoll St. Philadelphia, PA 19121SFR, Flip$35,000$25,000$90,00005/16/20164 months

ACTUAL

Date of SaleSales PriceCoCAnnualized
ROI
% Difference of Projected
vs Actual ARV
% Difference of Projected
vs Actual Rehab
% Difference of Projected
vs Actual Timeline
Source of
Funds

INVESTOR RETURNS

Source of FundsInvestment AmountInterest RateProfitCOCAnnualized ROI
IP1$66,00018%$11,88018%18%
IP2$10,00018%$1,80018%18%
Timeline:

05/2017

Expect to sell by mid June to ABC Capital investor for $150k. Waiting for long-term financing to finalize before moving forward with new rental acquisitions.

04/2017

About the deal: Fix and flip deal in up and coming Philadelphia neighborhood.
Duration: May-September 2016
Completed work: Done
Pictures: https://goo.gl/jjAfBu
Note: Property finished. Listed with a realtor for $175,000 looking to sell to a homeowner but at the same time, our Ground Partner is marketing to their buy and hold investors for $150,000 (they close fast and no realtor commissions). Should sell within 4 weeks. Similar to 2502 Ingersoll, profits will compensate for delay in construction.

03/2017

Met with realtor and confirmed listing price $150,000, which would net $139,000.
Remaining items: Basement cleaning and painting. Living room HVAC reworked, so needs drywall to cover. Outside fence repair. Handrailing and appliances.
Pictures: http://bit.ly/2ojBrlP

02/2017

About the deal: Fix and flip deal in up and coming Philadelphia neighborhood. Duration: May-September 2016 Completed work: Demo, rough plumbing and electric, drywall, compound Remaining work:, tilling, Finish plumbing finish, electric finish, flooring Pictures: https://goo.gl/jjAfBu Note: Progress, the property should be done in about 2 weeks. Kitchen and flooring replaced by higher end, looking for selling to a homeowner. Met the top performing Realtor in the Zip code and he said with current finishing we should sell for about $150,000

01/2017

About the deal: Fix and flip deal in up and coming Philadelphia neighborhood.
Duration: May-September 2016
Completed work: Demo, rough plumbing and electric, some drywall
Remaining work:, compound, tilling, Finish plumbing finish, electric finish, flooring
Pictures: https://goo.gl/jjAfBu (updated today, also a video)
Note: Permits obtained, progress during the last weeks.Rehab expected to be done in 2-3weeks. Strong comps make us optimistic obtaining at least $150,000 if sold to homeowner

12/2016

About the deal: Fix and flip deal in up and coming Philadelphia neighborhood.
Duration: May-September 2016
Completed work: Demo, rough plumbing and electric, some drywall
Remaining work: Finish drywall, compound, tilling, Finish plumbing, electric, flooring
Pictures: https://goo.gl/jjAfBu 
Note: Finally permits aproved on Thursday 15th December and ground partner placing his best crew there starting on Monday

11/2016

About the deal: Fix and flip deal in up and coming Philadelphia neighborhood.
Duration: May-September 2016
Completed work: Demo, rough plumbing and electric, some drywall
Remaining work: Finish drywall, compound, tilling, Finish plumbing, electric, flooring
Pictures: https://goo.gl/jjAfBu
Note: Again with permit problems, do not think this can close until early January

10/2016

About the deal: Fix and flip deal in up and coming Philadelphia neighborhood.
Duration: May-September 2016
Completed work: Demo, rough plumbing and electric, some drywall
Remaining work: Finish drywall, compound, tilling, Finish plumbing, electric, flooring
Pictures: https://goo.gl/jjAfBu
Note: Again with permit problems, do not think this can close until early December

09/20/2016

About the deal: Fix and flip deal in up and coming Philadelphia neighborhood.
Duration: May-September 2016
Completed work: Demo, rough plumbing and electric, some drywall
Remaining work: Finish drywall, compound, tilling, Finish plumbing, electric, flooring
Pictures: https://goo.gl/jjAfBu
Note: Just got permits. Do not think this property will close before mid November

08/30/2016

About the deal: Fix and flip deal in up and coming Philadelphia neighborhood.
Duration: May-September 2016
Completed work: Demo, rough plumbing and electric, some drywall
Remaining work: Finish drywall, compound, tilling, Finish plumbing, electric, flooring
Pictures: https://goo.gl/jjAfBu (updated today)
Note: Waiting for permits inspection

08/09/2016

About the deal: Fix and flip deal in up and coming Philadelphia neighborhood.
Duration: May-September 2016
Already Done: Demo, rough plumbing and electric, some drywall
Update: Ready for inspection
Pictures: https://goo.gl/jjAfBu

07/26/2016

About the deal: Fix and flip deal in up and coming Philadelphia neighborhood.
Duration: May-September 2016
Already Done: Demo, rough plumbing and electric, some drywall
Update: Stairs done
Pictures: https://goo.gl/jjAfBu

07/05/2016

House needs wiring inspected before sheetrock and framing starts

06/29/2016

Demo 2 done, starting framing and sheetrock.

06/22/2016

Rough electric and plumbing completed, now in Demo 2 phase. Everything as planned.

06/14/2016

Demo done, rough plumbing and electric almost done.

06/07/2016

Rehab started, demo finished last Friday and now waiting for permits

05/17/2016

Expected to close later this week