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2167 66th Ave

Before Rehab

2167 w 66th ave 1
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Rehab Update

2016-08-08-PHOTO-00000207
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Details:

Projected ROI: 93.5% Annualized
Managing Partner: Antonio Cerqueira
Contact Details: ACerqueira@EACGP.com; 857-756-4798
Ground Partner: ABC Capital
 

Documents:

PROFORMA

AddressProperty typePurchase PriceRehab costARVDate of PurchaseProjected timeline for
refinance or sale
2167 66th Ave., Philadelphia, PA 19138Duplex Flip$35,000$27,000$95,00005/27/20164 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
12/29/2016$103,30064%104%+8.7%-7.4%+75%IP

INVESTOR RETURNS

Source of FundsInvestment AmountInterest RateProfitCOCAnnualized ROI
IP1$50,95018%$5,62811%18%
IP2$10,00018%$1,10511%18%
Timeline:

11/2016

About the deal: Fix and flip deal in Philadelphia
Duration: May-September 2016
Completed work: Unit 1 already renovated Unit 2 renovation finished
Remaining work: Both units already renovated, ABC’s own inspection done, came just with minor things We expect this deal to close in about 4 weeks.
Pictures: https://goo.gl/tXE88J
Note: Both units are rented now. Cash buyer pending to close on property. Several issues delayed his wire. We hope he can close soon

10/2016

About the deal: Fix and flip deal in Philadelphia
Duration: May-September 2016
Completed work: Unit 1 already renovated Unit 2 renovation finished
Remaining work: Both units already renovated, ABC’s own inspection done, came just with minor things We expect this deal to close in about 4 weeks.
Pictures: https://goo.gl/tXE88J
Note: Both units are rented now. Original buyer was unreasonable with inspection, our ground partner found a cash buyer who will close before end of the month

09/20/2016

About the deal: Fix and flip deal in Philadelphia
Duration: May-September 2016
Completed work: Unit 1 already renovated Unit 2 renovation finished
Remaining work: Both units already renovated, ABC’s own inspection done, came just with minor things We expect this deal to close in about 4 weeks.
Pictures: https://goo.gl/tXE88J
Note: We got already an agreement of sale for this property.

08/30/2016

About the deal: Fix and flip deal in Philadelphia
Duration: May-September 2016
Completed work: Unit 1 already renovated Unit 2 renovation finished
Remaining work: Both units already renovated, now we start the inspection period. We expect this deal to close in about 4 weeks.
Pictures: https://goo.gl/tXE88J (updated today)
Note: We got already an agreement of sale for this property.

08/09/2016

About the deal: Fix and flip deal in Philadelphia
Duration: May-September 2016
Already Done: Unit 1 already renovated Unit 2 Rough electric and plumbing almost done
Update: rough plumbing and electric done. Sheet-rock in most of the house, tile laid on the kitchen. Tub in. Roof ordered.
Pictures: https://goo.gl/tXE88J (updated today)
Note: We got already an agreement of sale for this property.

07/26/2016

About the deal: Fix and flip deal in Philadelphia
Duration: May-September 2016
Already Done: Unit 2 already renovated Unit 1 Demo done
Update: Rough electric and plumbing almost done
Pictures: https://goo.gl/tXE88J
Note: We got already an agreement of sale for this property.

07/05/2016

1 unit totally done the other still under renovation

06/27/2016

This property sold for $111,000 to an investor coming from a referral network. After all fees and commissions, we will net $91,700 with an estimated profit of $34,700 which is about $4,000 more than expected. settlement date is 08/24/2016

06/21/2016

Duplex. One unit almost completed. Second unit we planned not to renovate and keep tenant but unfortunately tenant passed away so we are now going to renovate the unit.

06/14/2016

Work has started, it is being handled by the ABC maintenance department

06/07/2016

Just one unit will be renovated. ABC is doing this with their turnover team so it should go fast

05/17/2016

Expected to close next week. I am investing myself money on the deal