FIX AND FLIP LOAN
Chicago, IL
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In December 2023, a Chicago-based investor came to us after purchasing a distressed single-family home for $90,000. With a clear vision and a construction budget of $100,000, he partnered with Barnett REI Finance to bring the project to life. The planned after-repair value (ARV) was $342,000, but with smart renovations and great market timing, the property sold in June 2024 for an impressive $356,000. Right on track with the expected payoff date. This project shows that with flexible financing, investors can maximize value and successfully bring their plans to market.
Profitability & Lessons Learned
Inside the Deal
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The Numbers Behind The Flip*
Loan Amount
$161,500
Purchase Price
$90,000
Construction Budget
$100,000
ARV
$342,000
Project Duration
December 2023 - June 2024
Client Contribution
$28,500
Total Project Cost
$190,000
Resale Price
$356,000
*At the time of initial funding