Chicago General Contractor looking for more work

[Jonathan Klemm]

Investment Info:

Single-family residence fix & flip investment in Chicago.

Purchase price: $320,000
Cash invested: $320,000

Contributors:
Prashanth Mahakali

New construction single-family development. We purchased a double lot which included this one 2 years ago and finally broke ground on construction. This will be a high-end single-family residence in Bucktown.

What made you interested in investing in this type of deal?

We wanted to do build something from the ground up so we understook all aspects of residental construction.

How did you find this deal and how did you negotiate it?

MLS and standard negotiation

How did you finance this deal?

20% down conventional and then refi'd out to own lot free and clear

How did you add value to the deal?

Rehabbed the structure and built a new building on the lot

Lessons learned? Challenges?

You don't know what you don't know. Talk to as many people as you can about your deals.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Prashanth Mahakali