FIX AND FLIP LOAN
Chicago, IL
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The Numbers Behind the Flip
Project Duration
August 2021 - February 2023
Loan Amount
$155,635
Purchase Price
$85,500
Construction Budget
$96,100
Client Contribution
$25,965
Total Project Cost
$181,600
ARV*
$265,000
Resale Price
$259,000
*ARV at the time of initial funding
In August 2021, Barnett Capital funded a $155,635 fix and flip loan for a residential property in Chicago, Illinois. The borrower purchased the home for $85,500 and completed $96,100 in renovations, transforming the property with high quality finishes and modern updates. While the craftsmanship and design elevated the home’s appeal, extended timelines and rising carry costs impacted profitability. The project concluded in February 2023 with a final resale price of $259,000, slightly under the original after repair value (ARV) of $265,000. This Chicago fix and flip illustrates how even well executed renovations can be challenged by holding costs. It is also a reminder of the importance of both speed and strategy in real estate investing.
Profitability & Lessons Learned
Inside the Deal
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7806 S Paulina