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3706 Jefferson

Before Rehab

1008 Braemar-19
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Details:

Address: 3706 Jefferson Ave, St. Louis , MO 63118
Property type: Class B, Single Family – Flip
Purchase Price: $29,000
Rehab cost: $160,000
ARV: $306,000
Date of Purchase: 04/04/2016
Projected timeline for refinance or sale: 6 – 8 months
Projected ROI: 18% annualized
Ground Partner: Lou Ellis 
Company Name: Ellis Construction
Contact details:  ellisconstruction@hotmail.com; (252) 886-2136

 

Documents:

AddressProperty typePurchase PriceRehab costARVDate of PurchaseProjected timeline for
refinance or sale
3706 Jefferson Ave, St. Louis , MO 63118Class B, Single Family - Flip$29,000$160,000$306,00004/04/20166-8 months
Date of SaleSales PriceCoCAnnualized
ROI
% Difference of Projected
vs Actual ARV
% Difference of Projected
vs Actual Rehab
% Difference of Projected
vs Actual Timeline
Sources of
Funds
Timeline:

05/2017

Property listed for sale as-is.

03/2017

Initial buyers backed out. Property is seeing a lot of interest since located in hot area. EAC will sell as-is.

02/2017

Property partially framed, but damaged due to storm. EAC will sell as-is.

01/2017

Property partially framed, but damaged due to storm. EAC will sell as-is.

07/26/2016

Finishing framing within a week and then ready for mechanicals.

06/21/2016

Going well, all the framing is done. I ask Lou for pictures and he will send those along. I do believe that trades are in there but not exactly sure where we are in the plumbing and electric and HVAC, HVAC is going on first

05/17/2016

This home is in the middle of re-framing. Most of the existing floors have needed extensive repairs, but the crew is about 50% done. Once finished the mechanicals will begin and Lou thinks this one could take approximately 120 days total.

05/03/2016

They are full funded now, they are really going to be an interesting deal. They are in parkwest which is a great up and coming area 

04/04/2016

Date of Purchase

03/29/2016

I met the architect of the next flp that we are starting, we’ll close on that next week and Im actually meeting with Mary and the architect to review that plans either Monday or Tues and got bid on the roof and the gutting, Ill get that going also.
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