#REALTY Case Study: 9350 S. Throop St. Chicago, IL 60699

Mission:

Use cash to purchase REO property under market value, renovate, secure renter, sell to buyers at a profit.

Building Description:

9350 S. Throop is a brick single family residence on a double lot on Chicago’s South side.

Building Acquisition:

The building was purchased at auction for $55,000 as is.

Building Rehabilitation and Rental:

Over the course of 2 months the property was completely rehabilitated at a cost of approximately $75,000. The following describes the work done:

All new plumbing, electrical, floors, windows, roof, etc.

The property is being listed for $260,000

Simple Financials:Property cost: $55,000 | Rehab cost $75,000 | Total cost: 130,000 | Appraised value: $260,000

Profit: $130,000 in 2 months