FIX AND FLIP LOAN
Palatine, IL
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The Numbers Behind the Flip*
Project Duration
June 2022 - January 2023
Loan Amount
$234,956
Purchase Price
$257,500
Construction Budget
$68,828
Client Contribution
$91,372
Total Project Cost
$326,328
ARV*
$405,000
Resale Price
$365,000
*At the time of initial funding
In June 2022, Barnett REI Finance funded a fix and flip project in Palatine, IL. The project was originally structured to pay off in December 2022, but it ran longer than expected and ultimately paid off in January 2023. The extended timeline impacted the sales price to be less than the original projected ARV. The resale price was $365,000. The project reflects how market shifts and timing can influence outcomes and why adaptability is often just as valuable as speed.
Profitability & Lessons Learned
Inside the Deal
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328 N Bissell
