My brother and I are under contract now to sell our flipped property with the Chase team. We bought a foreclosed house for $112k, rehab SOW said $26k, ARV $180.
With their preferred HML on the first deal we had to put down 20% of the rehab + purchase. Rehab ended up being $38k, which at the time they said we'd get back on the sale since we actually appraised for $195k. Rehab was maybe 8 weeks long with one of their local crews.
We closed 8/15 and should sell 3/15 sadly for $182k. We'll make a little bit of money after the 7 months of holding costs, rehab, staging, etc. but only $3-4k which is bad on $52k all into it. We got hit on rehab and didn't sell for what they thought.
Overall, Chase was easy to work with as was the rehab team and HML. The only negative was what we get on the listing agent side - really just get the MLS listing, no other marketing/ sales work and def no negotiation. Just some emails telling us to accept the poor offer.
I think we'll roll this into the next one with them and try again.
