53 Chicago Residential Investment Property 2

[Lauren Flynn]

Investment Info:

Single-family residence buy & hold investment in Clarendon Hills.

Purchase price: $320,000
Cash invested: $56,000

This is our second property, in our neighborhood. We have Excellent LONG term tenants. We completed the interior renovation in 4 weeks, and rented it within 10 days after finishing the rehab work.

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

safe, high demand for renters, local to where we live.

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

MLS

How did you finance this deal?

Secure backed line of credit

How did you add value to the deal?

New kitchen, bathrooms, all new paint, drywall basement ceiling, new appliances including washer and dryer.

What was the outcome?

GREAT tenants, quickly rented.

Lessons learned? Challenges?

we will not be able to cash out refinance as much out as we hoped. we will refinance now 11/21 and then again after feb in 2022.