FORECLOSURE ACQUISITION BINDER Christian Chase - Foreclosure Agent at Chase Real Estate 630-527-0095 Office 630-484-5534 Mobile christian.chase@mychaseagent.com www.ChaseForeclosure.com
Property Address:
812 Horseshoe
City:
Joliet
Zip:
60435
After Rehab Value (ARV):
137,000
Purchase Price:
78,989
Rehab Estimate:
14,800
Rental Estimate:
1,200
INVESTMENT STRATEGY FOR SUBJECT PROPERTY Rehab and Sell Rehab and Rent
ATTACHED DOCUMENTATION Pro Forma Rehab & Sell Pro Forma Rehab & Rent Comparative Market Appraisal
NOTES:
Flip or Cash Flow Rental. Top Location in Joliet!
Print Form
Mortgage payment (interest only) Taxes Insurance Association Dues Utilities Monthly carrying costs
PROFIT CALCULATION Selling price: Less: Purchase price Less: Rehab Less: Carrying costs Less: Commission Less: Closing costs on purchase Less: Closing costs on sell Profit: Rate of return on money invested
$363.68 $242.17 $33.33 $0.00 $50.00 $689.18
INPUTS: Appraised value Selling price Purchase Price Annual Taxes Monthly Association Dues Rehab Homeowner's Insurance Closing costs on purchase Interest rate during rehab Loan amount during rehab (85% loan) Points paid on loan
$137,000.00 -$78,989.00 -$14,800.00 -$3,445.90 -$4,110.00 -$3,000.00 -$2,000.00 $30,655.10 92.6%
Summary: Down payment (85% loan) Rehab Closing costs on purchase Carrying costs Total dollars required:
FOR DEMONSTRATION PURPOSES ONLY - RESULTS NOT GUARANTEED
$137,000.00 $137,000.00 $78,989.00 $2,906.00 $0.00 $14,800.00 $400.00 $3,000.00 6.50% 67,140.65 0.00
$11,848.35 $14,800.00 $3,000.00 $3,445.90 $33,094.25
Interest only payment Taxes Insurance Association Dues Total Payment less: Rent Cash Flow
Rehab Period $363.68 $242.17 $33.33 $0.00 $639.18
APPRECIATION CALCULATION Appreciation Percentage Initial Appraised Value
3.00% $137,000.00
End of Yr 1 Value End of Yr 2 Value End of Yr 3 Value
$141,110.00 $145,343.30 $149,703.60
PROFIT CALCULATION Cash Inflow Selling Price Yr. 3 3 Years of Cash Flow Subtotal of Inflows Cash Outflow Less: Commission on Sale Less: Closing Costs on Sale Less: 3 Yrs of Repairs Less: Carrying Costs Less: Back-end Rehab Subtotal of Outflows Gross Inflow Less: Current Loan Gross Profit Less: Money in Property Less: Deposit Returned Profit:
Rental Period $556.56 $242.17 $33.33 $0.00 $832.06 $1,200.00 $367.94
Interest rate during rehab Interest rate during rental period Loan amount during rehab (85% loan) Loan amount during rental period Points paid on loan
Money tied up: Appraised value: Cash out % New loan amount Minus original loan
$149,703.60 $13,245.84 $162,949.44 -$4,491.11 -$3,000.00 -$1,800.00 -$2,496.18 -$4,000.00 -$15,787.29 $147,162.15 -$102,750.00 $44,412.15 $516.10 -$1,200.00 $43,728.25
INPUTS Appraised value Selling price Purchase Price Annual Taxes Monthly association dues Rehab Homeowner's Insurance Section 8 Rent
(90 days to sell)
Points on refi Closing costs on refi Cash out Upfront money Money in property during rental period
$137,000.00 $137,000.00 $78,989.00 $2,906.00 $0.00 $14,800.00 $400.00 $1,200.00 6.50% 6.50% $67,140.65 $102,750.00
$137,000.00 75% $102,750.00 -$67,140.65 $35,609.35 1 -$2,000.00 $33,610.35 $33,094.25 -$516.10
* Investor retains tax write offs for mortgage interest and depreciation, property taxes FOR DEMONSTRATION PURPOSES ONLY - RESULTS NOT GUARANTEED
Comparative Market Analysis Property At: 812 HORSESHOE DR Prepared For: Chase Investor
Prepared By: Christian Chase Chase Real Estate, LLC
Office Phone: (630) 527-0095 Direct Line: (630) 527-0095 Personal Fax Number: (630) 701-1030 Email: christian.chase@mychaseagent.com
Prepared By: Christian Chase Chase Real Estate, LLC
Subject Property
Street Number: 812 Street Name: HORSESHOE Street Suffix: DR City: Joliet State: Illinois Zip Code: 60435 List Price: 78900 Total # Of Rooms: 6 Bedrooms: 3 Bathrooms: 2 Lot Size: .25-.49 Acre Type of House: Split Level Living Room Size: 19X12 Master Bedroom Size: 13X11 Garage Type: 2 Car Garage Parking: Off Street Age: 51-100 Years Exterior Building Type: Brick, Frame Elementary Sch Dist: 86 High Sch Dist: 204
Prepared By: Christian Chase Chase Real Estate, LLC
Short/All Photos (Thumbnail) - Client 1409 Frederick Street, Joliet 60435
LP: $119,900
SP: $118,000
PROPERTY INFORMATION Type: DE Status: CLSD MLS #: 07472180 Area: 499 Bdrms: 3 Year Built: 1956 Baths: 1 Taxes: $3,268 Rms: 5 Approx SF: Fplcs: 0 Master Bath: No Type: 1.5 Story Basement: Yes Park Type: Garage #Cars: 1 Lot Dimensions: 40X132 Subdivision: Directions: THEODORE OR INGALLS TO FREDERICK STREET (EAST OF 30)
COMPLETELY UPDATED INSIDE AND OUT! 1.5 STORY HOME - 3 BEDROOMS W/ FULL BASEMENT AND 1.5 CAR GARAGE. COMPLETELY NEW KITCHEN W/ NEW CABINETS AND CERAMIC FLOOR, KITCHEN APPLIANCES, NEW BATHROOM, WINDOWS, VINYL SIDING, FURNACE / CENTRAL AC, AND FRONT PORCH. FRESH PAINT AND NEW CARPET THROUGHOUT! UPDATED PLUMBING AND ELECTRIC. NEW ROOF JULY 04. GREAT OPPORTUNITY FOR 1ST TIME BUYER. AT THIS PRICE, WHY RENT? Christian Chase Chase Real Estate, LLC (630) 527-0095 1315 Macom Drive, Unit #001 Naperville, IL 60564 christian.chase@mychaseagent.com
Prepared By: Christian Chase Chase Real Estate, LLC
Short/All Photos (Thumbnail) - Client 1222 ROOSEVELT Avenue, Joliet 60435
LP: $119,000
SP:
PROPERTY INFORMATION Type: DE Status: CTG MLS #: 07498551 Area: 499 Bdrms: 2 Year Built: 1947 Baths: 1 Taxes: $3,174 Rms: 7 Approx SF: 1000 Fplcs: 1 Master Bath: No Type: 1 Story Basement: Yes Park Type: Garage #Cars: 1 Lot Dimensions: 50 X 130 Subdivision: Briargate Directions: BLACK TO MIDLAND TO ROOSEVELT
BUYER BONUS PROGRAM AVAILABLE Don't let the outside fool you. It's bigger than it looks and really cute inside. New carpet, new six panel doors, new windows, updated bath. Big family room with fireplace overlooks large fenced yard. Large eat in kitchen. There is a partially finished basement with a large rec room, great for entertaining. Plenty of parking. Garage is 2 cars wide. Great starter home. Can close quick. Christian Chase Chase Real Estate, LLC (630) 527-0095 1315 Macom Drive, Unit #001 Naperville, IL 60564 christian.chase@mychaseagent.com
Prepared By: Christian Chase Chase Real Estate, LLC
Short/All Photos (Thumbnail) - Client 1008 CLEMENT Street, Joliet 60435
LP: $130,000
SP: $124,000
PROPERTY INFORMATION Type: DE Status: CLSD MLS #: 07121946 Area: 499 Bdrms: 2 Year Built: 1929 Baths: 1 Taxes: $2,679 Rms: 4 Approx SF: Fplcs: Master Bath: No Type: 1 Story Basement: Yes Park Type: Garage #Cars: 3 Lot Dimensions: 50X134 Subdivision: Directions: INGALLS EAST OF RAYNOR TO CLEMENT SOUTH TO HOME
JUST MOVE INTO THIS IMMACULATE HOME. EVERYTHING HAS BEEN UPDATED FOR YOU. EAT IN KITCHEN WITH LOADS OF OAK CABINETS FOR STORAGE AND PANTRY CLOSET. BOTH BEDROOMS FEATURE WALK-IN CLOSETS. FULL DRY BASEMENT W/SEALED CONCRETE FLOORS ADDS TO THE LIVING SPACE OF THIS HOME. NEWER FURNACE AND ROOF IS UNDER TWO YEARS OLD! LARGE PAVER BRICK PATIO FOR THOSE SUMMERTIME GET TOGETHERS. WON'T LAST! Christian Chase Chase Real Estate, LLC (630) 527-0095 1315 Macom Drive, Unit #001 Naperville, IL 60564 christian.chase@mychaseagent.com
Prepared By: Christian Chase Chase Real Estate, LLC
Short/All Photos (Thumbnail) - Client 1009 Campbell Street, Joliet 60435
LP: $133,500
SP: $125,000
PROPERTY INFORMATION Type: DE Status: CLSD MLS #: 07365236 Area: 499 Bdrms: 3 Year Built: 1954 Baths: 1 Taxes: $1,120.26 Rms: 5 Approx SF: Fplcs: Master Bath: No Type: 1 Story Basement: Yes Park Type: Garage #Cars: 4 Lot Dimensions: 61 X 140 Subdivision: Directions: Raynor or Midland to Campbell St.
OWNER WANTS IT SOLD! MAKE US AN OFFER!!! 3 bedroom/1 bth, one owner home on tree lined St. in Cathedral Area*3RD BDRM COULD B FMR*New double glazed wndws*New blk wndws in bsmnt*New furnace in 2000*Water Htr 2004*New cement driveway 2006*4 CAR GRG WITH NEW GARAGE ROOF*NEW UPDATED ELECTRIC* Bring us an offer*Seller Motivated* Christian Chase Chase Real Estate, LLC (630) 527-0095 1315 Macom Drive, Unit #001 Naperville, IL 60564 christian.chase@mychaseagent.com
Prepared By: Christian Chase Chase Real Estate, LLC
Short/All Photos (Thumbnail) - Client 1013 Vine Street, Joliet 60435
LP: $134,900
SP: $125,000
PROPERTY INFORMATION Type: DE Status: CLSD MLS #: 07390618 Area: 499 Bdrms: 3 Year Built: UNK Baths: 2 Taxes: $1,835.66 Rms: 8 Approx SF: Fplcs: Master Bath: No Type: 1.5 Story Basement: Yes Park Type: Garage #Cars: 2 Lot Dimensions: 100X128.63 Subdivision: Directions: Ingalls E of Raynor to Vine S to home
This lovely brick bungalow has been in the same family since it was built 80+ years ago! Vintage appeal combines with updates and upgrades-original unpainted woodwork & doors, brass doorknobs, hardwood floors, leaded glass window...brand new roof, pretty maple kitchen w/42' cabinets, newer windows & more! Central air, upgraded electric, 9 yr old 2.5 car garage w/overhead doors front and back. 3/4 bath up. Double lot! Christian Chase Chase Real Estate, LLC (630) 527-0095 1315 Macom Drive, Unit #001 Naperville, IL 60564 christian.chase@mychaseagent.com
Prepared By: Christian Chase Chase Real Estate, LLC
Short/All Photos (Thumbnail) - Client 814 BARTHELME Avenue, Joliet 60435
LP: $139,900
SP: $135,000
PROPERTY INFORMATION Type: DE Status: CLSD MLS #: 07385914 Area: 499 Bdrms: 3 Year Built: UNK Baths: 1 Taxes: $3,289.18 Rms: 5 Approx SF: Fplcs: Master Bath: No Type: 1 Story Basement: Yes Park Type: Garage #Cars: 1 Lot Dimensions: 60X125X61.54X125 Subdivision: Directions: BLACK RD TO BARTHELME NORTH
ATTENTION FIRST TIME HOME BUYERS! THIS 3 BEDROOM RANCH IS IN MOVE IN CONDITION! THIS HOME FEATURES HARDWOOD FLOORS, CERAMIC TILE FLOORING IN KITCHEN, FRESHLY PAINTED LIVING ROOM, NEW ROOF AND FURNACE IN 2005, NEW CENTRAL AIR UNIT IN 2008. A FULL BASEMENT THAT IS PARTIALLY FINISHED WITH BAR AND REC AREA. ALL APPLIANCES WILL REMAIN. HOME IS IN A GREAT LOCATION! SELLERS CAN ACCOMMODATE A QUICK CLOSE! Christian Chase Chase Real Estate, LLC (630) 527-0095 1315 Macom Drive, Unit #001 Naperville, IL 60564 christian.chase@mychaseagent.com
Prepared By: Christian Chase Chase Real Estate, LLC
Short/All Photos (Thumbnail) - Client 1223 Wilcox Street, Joliet 60435
LP: $146,500
SP: $142,500
PROPERTY INFORMATION Type: DE Status: CLSD MLS #: 07342156 Area: 499 Bdrms: 2 Year Built: UNK Baths: 1 Taxes: $3,116 Rms: 4 Approx SF: Fplcs: Master Bath: No Type: 1 Story Basement: Yes Park Type: Garage #Cars: 1 Lot Dimensions: 60 X 120 Subdivision: Directions: Ingalls E. of Raynor to Wilcox North
Totally updated - Absolutely Perfect- New windows, air & furnace, ceramic flrs, new bathrm, copper plumbing, elec., Whole hse fan, sprinkler system for back yard, hardwood under carpet,patio, spotless basement w/tv-room or 3th bed rm. All brick exterior w/ vinyl soffits & gutters. 1 1/2 car garage. Walk to park. This brick ranch is all you could ask for. Valance & hrdwre in l.r. & sm.bed rm does not stay, no shelve Christian Chase Chase Real Estate, LLC (630) 527-0095 1315 Macom Drive, Unit #001 Naperville, IL 60564 christian.chase@mychaseagent.com
Prepared By: Christian Chase Chase Real Estate, LLC
Comparables Subject Property
Comp #1
812 HORSESHOE DR Joliet, Illinois 60435
1409 Frederick ST Joliet, Illinois 60435
1008 CLEMENT ST Joliet, Illinois 60435
1009 Campbell ST Joliet, Illinois 60435
MLS #:
07472180
07121946
07365236
Status:
CLSD
CLSD
CLSD
$119, 900
$130, 000
$133, 500
$118, 000
$124, 000
$125, 000
05/26/2010
02/26/2010
03/05/2010
Address:
List Price: 78900 Sold Price: Closed Date:
Adjustment Comp #2
Adjustment Comp #3
Adjustment
Total # Of Rooms: 6
5
4
5
Bedrooms - Above Grade: 3
3
2
3
Total Full/Half Baths: 2
1
1
1
.25-.49 Acre
Less Than .25 Acre
Less Than .25 Acre
1.5 Story
1 Story
1 Story
Living Room Size: 19X12
17X10
12X16
18X12
Master Bedroom Size: 13X11
10X13
12X11
12X9
Subdivision: Lot Size: .25-.49 Acre Approx Sq Ft: Type of House: Split Level Dining Room:
Model:
Ranch
Basement:
Garage Type: 2 Car Garage
Parking: Off Street Age: 51-100 Years Exterior Building Type: Brick, Frame Elementary Sch Dist: 86 High Sch Dist: 204 Short Sale/Foreclosed/Court Approved:
Full
Full, Partially Finished
Full, Unfinished
Detached, 1.5 Car Garage
Detached, 1.5 Car Garage, Garage Door Opener(s) (Auto), Transmitter(s)
Detached, 3+ Car Garage
Off Street
Off Street
On-Site
51-100 Years
51-100 Years
51-100 Years
Aluminum/Vinyl/Steel Siding
Aluminum/Vinyl/Steel Siding
Aluminum/Vinyl/Steel Siding
86
86
86
204
204
204
N/A
N/A
N/A
Total Adjustments:
Adjusted Price:
Prepared By: Christian Chase Chase Real Estate, LLC
$0
$0
$0
$118000
$124000
$125000
Comparables (continued) Subject Property
Comp #4
812 HORSESHOE DR Joliet, Illinois 60435
1013 Vine ST Joliet, Illinois 60435
814 BARTHELME AVE Joliet, Illinois 60435
1223 Wilcox ST Joliet, Illinois 60435
MLS #:
07390618
07385914
07342156
Status:
CLSD
CLSD
CLSD
$134, 900
$139, 900
$146, 500
$125, 000
$135, 000
$142, 500
03/22/2010
01/14/2010
01/08/2010
Address:
List Price: 78900 Sold Price: Closed Date:
Adjustment Comp #5
Adjustment Comp #6
Adjustment
Total # Of Rooms: 6
8
5
4
Bedrooms - Above Grade: 3
3
3
2
Total Full/Half Baths: 2
2
1
1
.25-.49 Acre
Less Than .25 Acre
Less Than .25 Acre
1.5 Story
1 Story
1 Story
Subdivision: Lot Size: .25-.49 Acre Approx Sq Ft: Type of House: Split Level Dining Room:
Separate
Living Room Size: 19X12
12X12
12X18
15X18
Master Bedroom Size: 13X11
11X10
12X10
12X13
Full, Unfinished
Full, Partially Finished
Detached, 2.5 Car Garage, Garage Door Opener(s) (Auto), Transmitter(s)
Detached, 1.5 Car Garage Detached, 1.5 Car Garage
Off Street
Off Street
Off Street
51-100 Years
26-50 Years
51-100 Years
Brick, Clad Trim
Aluminum/Vinyl/Steel Siding
Brick
86
86
86
204
204
206
N/A
N/A
N/A
Model:
Ranch/wbas
Basement:
Garage Type: 2 Car Garage
Parking: Off Street Age: 51-100 Years Exterior Building Type: Brick, Frame Elementary Sch Dist: 86 High Sch Dist: 204 Short Sale/Foreclosed/Court Approved: Total Adjustments:
Adjusted Price:
Prepared By: Christian Chase Chase Real Estate, LLC
Full, Partially Finished
$0
$0
$0
$125000
$135000
$142500
Comparables (continued)
Address:
Subject Property
Comp #7
812 HORSESHOE DR Joliet, Illinois 60435
1222 ROOSEVELT AVE Joliet, Illinois 60435
MLS #:
07498551
Status:
CTG
List Price: 78900
Adjustment
$119, 000
Sold Price: Closed Date: Total # Of Rooms: 6
7
Bedrooms - Above Grade: 3
2
Total Full/Half Baths: 2
1
Subdivision:
Briargate
Lot Size: .25-.49 Acre
Less Than .25 Acre
Approx Sq Ft:
1000
Type of House: Split Level
1 Story
Dining Room:
Combined w/ LivRm
Living Room Size: 19X12
18X12
Master Bedroom Size: 13X11
10X12
Model: Basement:
Partial, Crawl Detached, 1.5 Car Garage, Garage Door Opener(s) (Auto), Transmitter(s)
Garage Type: 2 Car Garage Parking: Off Street
Off Street
Age: 51-100 Years
51-100 Years
Exterior Building Type: Brick, Frame
Aluminum/Vinyl/Steel Siding
Elementary Sch Dist: 86
86
High Sch Dist: 204
204
Short Sale/Foreclosed/Court Approved: Total Adjustments:
Adjusted Price:
Prepared By: Christian Chase Chase Real Estate, LLC
$0
$119000
Key
MLS #
Status
Address
Price
Beds
Baths
1)
07472180
CLSD
1409 Frederick ST
$118,000
3
1
2)
07121946
CLSD
1008 CLEMENT ST
$124,000
2
1
3)
07365236
CLSD
1009 Campbell ST
$125,000
3
1
4)
07390618
CLSD
1013 Vine ST
$125,000
3
2
5)
07385914
CLSD
814 BARTHELME AVE
$135,000
3
1
6)
07342156
CLSD
1223 Wilcox ST
$142,500
2
1
7)
07498551
CTG
1222 ROOSEVELT AVE
$119,000
2
1
Prepared By: Christian Chase Chase Real Estate, LLC