FIX AND FLIP LOAN
Chicago, IL
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The Numbers Behind the Flip*
Project Duration
November 2020 - April 2022
Loan Amount
$373,129
Purchase Price
$290,000
Construction Budget
$153,000
Client Contribution
$69,871
Total Project Cost
$443,000
ARV
$555,000
Resale Price
$699,000
*At the time of initial funding
In November 2020, Barnett REI Finance backed a $373,129 loan for a classic Chicago bungalow in need of a full transformation. The investor purchased the property for $290,000 with a $153,000 construction budget to renovate it. The property experienced a full gut rehab and an addition of a brand-new second floor to maximize the space and modernize the home. Though the project faced hurdles, stretching its original November 2021 payoff to April 2022, it sold for $699,000 far above the $555,000 ARV. This case demonstrates how bold renovations can deliver great returns when paired with a creative vision and the right financing partner.
Profitability & Lessons Learned
Inside the Deal
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4837 N Lowell
