Call us: +1 858-255-1012

7718 S Loomis

Before Rehab

20150618_122435
« 1 of 43 »

Details:

Address: 7718 Loomis Blvd, Chicago, Illinois 60620
Property type: 2-Flat
Purchase Price: $32,000
Rehab cost: $86,000
ARV: $195,000
Date of Purchase: 03/03/2016
Projected timeline for refinance or sale: 4.8 Months
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
 

Documents:

AddressProperty typePurchase PriceRehab costARVDate of PurchaseProjected timeline for
refinance or sale
7718 Loomis Blvd, Chicago, Illinois 606202-Flat$32,000$86,000$195,00003/03/20164.8 Months
Date of SaleSales PriceCoCAnnualized
ROI
% Difference of Projected
vs Actual ARV
% Difference of Projected
vs Actual Rehab
% Difference of Projected
vs Actual Timeline
Source of
Funds
01/03/2017$185,00031%40%-5%N/A467%EAC
Timeline:

03/2017

Sold.

10/2016

Closing soon. No exact date but real soon. All rehab is done.

09/20/2016

Is closing in October for 185k. Purchased at 32,000, rehab 86,000, reselling 185k.

08/30/2016

Going on 5 months on this extensive rehab flip. Rehab is said to be pretty much complete. Waiting for Willem to confirm updates.

08/09/2016

Moving along with rehab. GC thinks 2-3 weeks more to completion.

07/26/2016

No new updates on Loomis. Still under rehab.

07/05/2016

Moving along. No longer doing porch upgrade.

06/21/2016

Loomis is moving along. It’s a full gut rehab so it’s a multi month rehab project. It’s under contract at full asking price. Justin’s pushing the GC to get the rehab done next month so we can close in August.

06/07/2016

Loomis is still under rehab

05/17/2016

7718 Loomis Chicago, IL 40% Construction Complete In Verbal Purcahse Contract finalizing paperwork for sale at 185K

05/12/2016

Loomis is moving along nicely now and we have a buyer lined up at $180k(Justin)

05/03/2016

Now at 20% construction

04/19/2016

Loomis is starting to pick up steam, the GC was on vacation last week but now back in action. In the mechanical rough phase right now

04/05/2016

Loomis has just started demo, securitization is done and framing will start next week 

03/22/2016

With regard to the next deals in pipeline, the second deal that I have been approved. Kevin and I went over the spreadsheet and corrected the field that weren’t populated correctly. Saved in PFR files in dropbox under Loomis. Waiting for the deals to get funded to start construction.

09/03/2014

Date of Purchase