Chicago Illinois Fix and Flip Funded
Kevin L. found an adorable cottage home in a highly-desirable Chicago, IL neighborhood. Homes in this area sell for an excellent profit and Kevin luckily stumbled across this deal with a very motivated seller. He needed lightning-fast funding to take advantage of this low property purchase price. Kevin searched for a good hard money lender and he finally saw Do Hard Money’s website. He knew he found the perfect lender for his deal and contacted us. We determined his deal to be very profitable and even funded 100% of the property purchase price and 100% of the rehab costs. We also covered 3% of the closing costs.
Kevin went straight to work rehabbing this home. He planned on a complete transformation and successfully executed his vision of the perfect home. First, Kevin re-stained all of the hard wood floors to a darker color to give each room a more classic look. Next, Kevin performed an incredible kitchen upgrade. He then replaced the tile with a modern brick style and added granite counter tops. He also added new, matching cabinets and stainless steel appliances. Kevin updated the lighting fixtures in the kitchen to give the entire room a dazzling luminescence. He also upgraded the bathrooms with new vanities and mirrors. Finally, Kevin gave the interior a new paint job and added a new door to the exterior.
As a result of this phenomenal rehab, Kevin is looking at an overall estimated profit of $43,639. For a closer look at the details* of Kevin’s deal, check out the table below!
|Loan Details||Cost||% Funded|
|Total Funding Needed for Deal||$266,089|
|Do Hard Money Loan Amount||$227,400|
|Seller Paid Costs||$3,518|
|After Repair Value (ARV)||$325,000|
|Estimated Net Profit||$43,639|
*Minor loan details not included.
We are so happy to fund Kevin’s lucrative Illinois deal. Though some deals require cash-to-close, Kevin’s deal is the perfect example of a profitable property requiring cash at the closing table. There are many options to qualify your deal for 100% financing. First, you can find a property so profitable that 70% of the ARV covers all the loan costs. Second, you can find a great deal and use gap financing to cover the cash-to-close. Alternatively, you can also use a 3rd party lender to cover any cash requirements outside of the loan.
There are many excellent investment opportunities out there qualifying for 100% financing. Do Hard Money can help you find these properties and open the door to financial freedom through investment success! Click on this link to schedule an appointment with our investment associates. If you can’t wait to get started, call us now at 801-948-9774. You can connect immediately with one of our real estate investment experts who can walk you through your next profitable deal. Schedule your appointment today!
Have a property in mind? You can also get pre-qualified today by filling in the fields in the yellow ‘Get Prequalified’ box on the upper right. Then, click ‘GET PREQUALIFIED’ for fast funding right at your fingertips. Apply today and get started on the road to lucrative investments!