Deal diary: 1 bed 1 bath in Lincoln Park

[Yuval Tene]

Hello everyone,

My name is Yuval and I want to share my most recent investment deal with you.

My husband and I purchased a beat-down 1 bedroom condo in Lincoln Park, Chicago.

He did almost all of the work himself, so we were able to cut down on at least 30% of the remodeling cost this way.

Purchase price $140,000

Closing cost $3,000

Gut rehab + holding cost $27,000

$170,000 cash all in

I obtained my real estate license during the buying process and rented the unit for $1,940 a month.

After signing the lease, we cash-out refinance at ARV of $200,000 at 3.85% rate. Which gave us $140,000 of our money back.

Monthly PITI is $1,280 which leaves us with $660 cash flow and roughly 26% cash-on-cash return (as of now, with me managing the place and my husband maintaining it).

Here are some pics of before and after (:

On to the next one!

Yuval,