FIX AND FLIP LOAN
Chicago, IL
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The Numbers Behind the Flip
Project Duration
December 2021 - January 2023
Loan Amount
$136,000
Purchase Price
$83,000
Construction Budget
$70,000
Client Contribution
$48,000
Total Project Cost
$153,000
ARV*
$250,000
Resale Price
$259,000
*ARV at the time of initial funding
In December 2021, Barnett REI Finance provided a $136,000 loan for a Chicago fix and flip purchased at $83,000. The construction budget was $70,000. Originally set to mature in June 2022, the project faced delays and wasn’t completed until January 2023. The prolonged timeline tested the project, but flexible funding enabled the borrower to complete improvements and position the property for resale.
Profitability & Lessons Learned
Inside the Deal
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11128 Emerald
