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2502 Ingersoll

Before Rehab

2502 Ingersoll Before 5
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Rehab Update

Jan 30 2017 (2)
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Details:

Address: 2502 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
2502 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
04/07/2017$155,00044%53%72%207%270%EAC Investors

INVESTOR RETURNS

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

04/2017

Sold 04/07/2017

03/2017

Investor buyer interested in purchasing for $155,000, which would net $141,000. Remaining items: Facade still needs to be finished, plumbing and fence also needs to be finished. Pictures: http://bit.ly/2noJGs8

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, tiling, drywall, stairs, compound Remaining work: Finish plumbing finish, electric finish, flooring Pictures: https://goo.gl/jSXDrq Note: Progress, the property should be done in about 2 weeks. Kitchen and flooring replaced by higher end, looking for selling to 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, tiling, drywall, stairs
Remaining work: compound, Finish plumbing finish, electric finish, flooring
Pictures: https://goo.gl/jSXDrq (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, tiling, drywall, stairs
Remaining work: compound, Finish plumbing, electric, flooring
Pictures: https://goo.gl/jSXDrq (updated today)
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, tiling, drywall, stairs
Remaining work: compound, Finish plumbing, electric, flooring
Pictures: https://goo.gl/jSXDrq
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, tiling, drywall, stairs
Remaining work: compound, Finish plumbing, electric, flooring
Pictures: https://goo.gl/jSXDrq (updated today)
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, tiling, drywall, stairs
Remaining work: compound, Finish plumbing, electric, flooring
Pictures: https://goo.gl/jSXDrq (updated today)
Note: Got permits some of the flooring done. Do not think this property will close before late October

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, tiling, drywall, stairs
Remaining work: compound, Finish plumbing, electric, flooring
Pictures: https://goo.gl/jSXDrq (updated today)

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, tiling, drywall, stairs
Update: Inspection done
Pictures: https://goo.gl/jSXDrq

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, tiling, drywall, stairs
Update: Construction work is temporally stopped due to L&I inspection
Pictures: https://goo.gl/jSXDrq

07/05/2016

Stairs finished, tile finished sheetrock finished. L&I shut job down. needs electric inspection

06/29/2016

Demo 2 done, All tile is laid Sheetrock hung Steps going upstairs are starting to be built, roof almost done

06/22/2016

Rough electric and plumbing completed, now in Demo 2 phase and rooffing. Everything OK

06/14/2016

Demo, rough pluming and electric done.

06/07/2016

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

05/16/2016

Date of Purchase
.