1008 Braemar

Before Rehab

1008 Braemar-19
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Rehab Update

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Projected ROI: 20% Annualized  
Managing Partner: Tony Banawa
Ground Partners: Profit From Rentals
Contact details:
justin@profitfromrentals.com; (602) 421-0995 
willem@profitfromrentals.com; (619) 402-0208



AddressProperty typePurchase PriceRehab costARVDate of PurchaseProjected timeline for
refinance or sale
1008 Braemar, Flossmoor, IL 60422Single Family Residential$52,000$45,000$160,00002/29/20164.1 months


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


Purchase Price: $48,000
ARV: $160,000
Sold $165,000
Purchase Date Closed: 03/02/2016

EAC is not involved in the profits on this deal, an investor get’s share of profit’s on this deal. Deal closed and sold for $165k…$5k more than expected. EAC will be funded back this week.


Braemar may close this Friday but the village wants another set of permits so we are working out the details.


Expected to close in 1 to 3 weeks.


New Cash Buyer @165k. Closing 3rd week July.


Working on getting full price offer with no commissions needing to pay out. Initially trying to sell for $150k. They marketed it through Maverick’s clients and they were charging 6% commissions. Appraiser came in 10k short so that is $20k loss right there if sell it that way. With having to pay EAC $36k, wouldn’t make sense on their end. Currently remarketing it without having to pay commissions for full price eliminating that extra $20 loss on commissions and appraisal. Still ahead of schedule, just don’t want to give it away.


Braemar is completed … We are doing appraisal / inspections next Week.


1008 Braemer, Flossmore, IL 80% construction Complete In contract 5/10 to sell once leased for 160K


Braemar is finishing up in the next two weeks. We contracted last night for $160k(Justin)


We are a few weeks away from finishing Braemar… It will close in June; I just confirmed the sales price to an investor at $160k. We projected a $150k sales price so this one is going to perform better than anticipated if everything works out with the buyer. I have a backup offer at $160k as well with a local Dr. (Eli).


Braemar is 70% completed and moving along nicely.


Braemar is entering the interior carpentry phase … This means that demo, framing, and rough mechanicals are completed … A GC has been signed up to start the last phase next week. The last phase takes 45 days to complete plus 2 weeks of inspection / punch list items.


Joe did a spot check on construction progress at Braemar on 3/25.  Pictures were taken from the outside as no one was there.  Basic framing looks to be complete.  The bathroom has been enlarged and framing complete.  The kitchen counters and cabinets have been removed and new counters and cabinets have been ordered.  The major expense items are plumbing and electrical and Justin needs to confirm what items on the SOW need to be carried out and whether the plumbing/electrical and other items actually need to be performed.


Constructions started, last week, just the framing. Joe will visit the property for a quick spot check and will take pictures. 


We have 30K investors in a Single Family Flip. Property Closed on March 2nd last week. Its currently at 3 and 1 1/2 rehab-remodeled kitchen, bathrooms, pipes and electrical must likely to be replaced and its a nice little B Class property.

If our plans to perform a complete rehab within 6 weeks, however, construction will not begin until early April. The reason is that we really have to wait 90 days from property close and rehab will be completed by then, and to have an appraisal reflect the ARV with that new value.


Date of Purchase