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:
600 Hemmingsen
City:
Plano
Zip:
60545
After Rehab Value (ARV):
155,000
Purchase Price:
102,989
Rehab Estimate:
4,800
Rental Estimate:
1,372
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:
Single Family Home with Basement - Great Flip
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
$474.18 $457.33 $33.33 $32.00 $0.00 $996.85
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
$155,000.00 -$102,989.00 -$4,800.00 -$4,984.23 -$4,650.00 -$3,000.00 -$2,000.00 $32,576.77 115.4%
Summary: Down payment (85% loan) Rehab Closing costs on purchase Carrying costs Total dollars required:
FOR DEMONSTRATION PURPOSES ONLY - RESULTS NOT GUARANTEED
$155,000.00 $155,000.00 $102,989.00 $5,488.00 $32.00 $4,800.00 $400.00 $3,000.00 6.50% 87,540.65 0.00
$15,448.35 $4,800.00 $3,000.00 $4,984.23 $28,232.58
Interest only payment Taxes Insurance Association Dues Total Payment less: Rent Cash Flow
Rehab Period $474.18 $457.33 $33.33 $2.67 $967.51
APPRECIATION CALCULATION Appreciation Percentage Initial Appraised Value
3.00% $155,000.00
End of Yr 1 Value End of Yr 2 Value End of Yr 3 Value
$159,650.00 $164,439.50 $169,372.69
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 $629.69 $457.33 $33.33 $32.00 $1,152.36 $1,372.00 $219.64
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
$169,372.69 $7,907.16 $177,279.85 -$5,081.18 -$3,000.00 -$1,800.00 -$3,457.07 -$4,000.00 -$17,338.25 $159,941.59 -$116,250.00 $43,691.59 -$1,522.23 -$1,372.00 $40,797.36
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
$155,000.00 $155,000.00 $102,989.00 $5,488.00 $32.00 $4,800.00 $400.00 $1,372.00 6.50% 6.50% $87,540.65 $116,250.00
$155,000.00 75% $116,250.00 -$87,540.65 $28,709.35 1 -$2,000.00 $26,710.35 $28,232.58 $1,522.23
* Investor retains tax write offs for mortgage interest and depreciation, property taxes FOR DEMONSTRATION PURPOSES ONLY - RESULTS NOT GUARANTEED
Comparative Market Analysis Property At: 600 HEMMINGSEN ST 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: 600 Street Name: HEMMINGSEN Street Suffix: ST City: Plano State: Illinois Zip Code: 60545 Total # Of Rooms: 7 Bedrooms: 3 Bathrooms: 2.1 Subdivision: LAKEWOOD SPRINGS Lot Size: Less Than .25 Acre Type of House: 2 Stories Dining Room: Combined w/ FamRm Living Room Size: 14X11 Master Bedroom Size: 14X13 Model: DOVER Basement: Full Garage Type: 2 Car Garage Parking: Off Street Age: 1-5 Years Exterior Building Type: Aluminum/Vinyl/Steel Siding, Brick Elementary Sch Dist: 88 High Sch Dist: 88
Prepared By: Christian Chase Chase Real Estate, LLC
Comparables Subject Property
Comp #1
600 HEMMINGSEN ST Plano, Illinois 60545
3122 Alyssa ST Plano, Illinois 60545
3634 BAILEY ST Plano, Illinois 60545
323 ALEXIS ST Plano, Illinois 60545
MLS #:
07179469
07320631
07399668
Status:
CLSD
CLSD
CLSD
$175, 000
$164, 900
$150, 000
$150, 000 (S)
$170, 000 (F)
$147, 500 (F)
11/30/2009
11/24/2009
04/30/2010
10
11
7
3
3
3
Address:
List Price: Sold Price: Closed Date: Total # Of Rooms: 7 Bedrooms - Above Grade: 3 Total Full/Half Baths: 2.1
Adjustment Comp #2
Adjustment Comp #3
Adjustment
2.1
2.1
2.1
Subdivision: LAKEWOOD SPRINGS
Lakewood Springs
Lakewood Springs
Lakewood Springs
Lot Size: Less Than .25 Acre
Less Than .25 Acre
.25-.49 Acre
Less Than .25 Acre
2351
2585
2632
2 Stories
2 Stories
2 Stories
Approx Sq Ft: Type of House: 2 Stories
Separate
Separate
Combined w/ LivRm
Living Room Size: 14X11
Dining Room: Combined w/ FamRm
14X13
14X13
13X22
Master Bedroom Size: 14X13
13X17
13X17
13X17
Jeffersonb
Jefferson
Kensington
Full
Full
Full, Unfinished
Attached, 2 Car Garage, Garage Door Opener(s) (Auto), Transmitter(s)
Attached, 3 Car Garage, Garage Door Opener(s) (Auto), Transmitter(s)
Attached, 2 Car Garage
Parking: Off Street
Off Street
Off Street
Off Street
Age: 1-5 Years
Unknown
1-5 Years
1-5 Years
Aluminum/Vinyl/Steel Siding
Aluminum/Vinyl/Steel Siding
Aluminum/Vinyl/Steel Siding
Elementary Sch Dist: 88
115
115
88
High Sch Dist: 88
115
115
88
S
F
F
Model: DOVER Basement: Full Garage Type: 2 Car Garage
Exterior Building Type:
Aluminum/Vinyl/Steel Siding, Brick
Short Sale/Foreclosed/Court Approved: Total Adjustments:
Adjusted Price:
Prepared By: Christian Chase Chase Real Estate, LLC
$0
$0
$0
$150000
$170000
$147500
Comparables (continued) Subject Property
Comp #4
600 HEMMINGSEN ST Plano, Illinois 60545
3910 HOFFMAN ST Plano, Illinois 60545
642 Deames ST Plano, Illinois 60545
307 Schmidt ST Plano, Illinois 60545
MLS #:
07456844
07383145
07205747
Status:
CTG
CTG
ACTV
$173, 900
$179, 900
$175, 000
10
7
12
3
3
3
Address:
List Price:
Adjustment Comp #5
Adjustment Comp #6
Adjustment
Sold Price: Closed Date: Total # Of Rooms: 7 Bedrooms - Above Grade: 3 Total Full/Half Baths: 2.1
2.1
2.1
2.1
Subdivision: LAKEWOOD SPRINGS
Lakewood Springs
Lakewood Springs
Lakewood Springs
Lot Size: Less Than .25 Acre
Less Than .25 Acre
.25-.49 Acre
Less Than .25 Acre
2374
1624
2713
2 Stories
2 Stories
2 Stories
Approx Sq Ft: Type of House: 2 Stories
Separate
Separate
Separate
Living Room Size: 14X11
Dining Room: Combined w/ FamRm
14X13
16X12
15X15
Master Bedroom Size: 14X13
17X13
14X12
19X14
Model: DOVER
Essex
Basement: Full
Full
Partial
Partial, Crawl
Attached, 2 Car Garage
Attached, 2 Car Garage
Attached, 2.5 Car Garage, Garage Door Opener(s) (Auto), Transmitter(s)
Parking: Off Street
Off Street
Off Street, Visitor Parking, On-Site
Off Street
Age: 1-5 Years
1-5 Years
1-5 Years
1-5 Years
Aluminum/Vinyl/Steel Siding
Aluminum/Vinyl/Steel Siding
Aluminum/Vinyl/Steel Siding, Brick
Elementary Sch Dist: 88
88
88
88
High Sch Dist: 88
88
88
88
Garage Type: 2 Car Garage
Aluminum/Vinyl/Steel Exterior Building Type: Siding, Brick
Short Sale/Foreclosed/Court Approved: Total Adjustments:
Adjusted Price:
Prepared By: Christian Chase Chase Real Estate, LLC
$0
$0
$0
$173900
$179900
$175000
Key
MLS #
Status
Address
Price
Beds
Baths
1)
07179469
CLSD
3122 Alyssa ST
$150,000
3
2.1
2)
07320631
CLSD
3634 BAILEY ST
$170,000
3
2.1
3)
07399668
CLSD
323 ALEXIS ST
$147,500
3
2.1
4)
07456844
CTG
3910 HOFFMAN ST
$173,900
3
2.1
5)
07383145
CTG
642 Deames ST
$179,900
3
2.1
6)
07205747
ACTV
307 Schmidt ST
$175,000
3
2.1
Prepared By: Christian Chase Chase Real Estate, LLC