17800 Yale Ln

The “house on Yale Lane” was the first project in which we acted as the general contractor. We also had an opportunity to purchase the house under a “contract for deed” and therefore, we did not have to outlay any cash up front. We agreed to buy the house from a wholesaler, but we would not technically close on the house (use our cash) until we closed the rehab deal. In the meantime, we agreed to accrue 8% interest while we worked on the deal.

The house needed a new roof, new kitchen, new bathroom, all new flooring, fixtures, doors, paint, and plumbing. Walking the house after our rehab, the money was well spent and the house showed really well. After only a few days on the market, we received a full price offer at the top of the market in Country Club Hills.

400 Park Ave Unit 102

We have never spent so much time navigating an HOA than we did with this property. In fact, the condo unit actually had 2 HOA’s. Flipping a condo is a beast because we have to deal with all kinds of rules and regulations… and fees.

But, this project was worth it because it was a quick flip and huge transformation without a large budget. When we first obtained this property and opened the doors, we were disappointed to find out all the kitchen cabinets had been ripped out of the unit. We were hoping to be able to salvage some of the cabinets, but we ended up having to redo the entire kitchen.

This project required a new kitchen, new floors, new paint and fixtures. We also ran into an issue with the main door to the condo that required some creative problem solving. The rehab took about 4 weeks to complete and another couple weeks of paperwork. The condo was on the market for a few weeks over the holiday season and eventually sold for just under our full asking price.

Success Story - 14908 Oak St

We purchased this house as a tax certificate and knew it had been vacant for a while. Our intention was to do a minimal rehab and sell the property quickly for a small profit. In fact, we even entertained selling the house as a “wholesale” before we even started our rehab. When the wholesale option fell apart, we started our rehab which attracted attention to the house and someone ended up stealing the garage door and siding for scrap material.

After this rough start, we also ran into a problem with the gas service. Since the house had been vacant for so long, we had to wait in a multi-week line to get a gas meter installed from the main line. Until the gas was turned on, we couldn’t turn the water on and verify the plumbing in the house. After waiting for the gas and water to get on, we finally finished the rehab and listed the house. We were concerned for the security of the house due to the neighborhood and our prior experience with the garage so we used a security company called DAWGS to put heavy duty security on the house. Another lesson - this security system scares potential buyers.

We had over 30 showings for this house and finally found a buyer just before the holidays in 2018. The final product turned out really nice despite all the headaches.