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:
Timber Hill
City:
Aurora - Naperville Schools
Zip:
60504
After Rehab Value (ARV):
142,000
Purchase Price:
92,989
Rehab Estimate:
10,800
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:
Flip or Rent - Cash Flow over $400 per month after cash-out refi!!!
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
$428.14 $300.33 $33.33 $0.00 $50.00 $811.81
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
$142,000.00 -$92,989.00 -$10,800.00 -$4,059.03 -$4,260.00 -$3,000.00 -$2,000.00 $24,891.97 60.6%
Summary: Down payment (75% loan) Rehab Closing costs on purchase Carrying costs Total dollars required:
FOR DEMONSTRATION PURPOSES ONLY - RESULTS NOT GUARANTEED
$142,000.00 $142,000.00 $92,989.00 $3,604.00 $0.00 $10,800.00 $400.00 $3,000.00 6.50% 79,040.65 0.00
$23,247.25 $10,800.00 $3,000.00 $4,059.03 $41,106.28
Interest only payment Taxes Insurance Association Dues Total Payment less: Rent Cash Flow
Rehab Period $428.14 $300.33 $33.33 $0.00 $761.81
APPRECIATION CALCULATION Appreciation Percentage Initial Appraised Value
3.00% $142,000.00
End of Yr 1 Value End of Yr 2 Value End of Yr 3 Value
$146,260.00 $150,647.80 $155,167.23
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 $615.33 $300.33 $33.33 $0.00 $949.00 $1,372.00 $423.00
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
$155,167.23 $15,228.12 $170,395.35 -$4,655.02 -$3,000.00 -$1,800.00 -$2,846.99 -$4,000.00 -$16,302.01 $154,093.35 -$113,600.00 $40,493.35 -$8,545.93 -$1,372.00 $30,575.41
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
$142,000.00 $142,000.00 $92,989.00 $3,604.00 $0.00 $10,800.00 $400.00 $1,372.00 6.50% 6.50% $79,040.65 $113,600.00
$142,000.00 80% $113,600.00 -$79,040.65 $34,559.35 1 -$2,000.00 $32,560.35 $41,106.28 $8,545.93
* Investor retains tax write offs for mortgage interest and depreciation, property taxes FOR DEMONSTRATION PURPOSES ONLY - RESULTS NOT GUARANTEED
Comparative Market Analysis Property At: 3054 TIMBER HILL LN 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: 3054 Street Name: TIMBER HILL Street Suffix: LN City: Aurora State: Illinois Zip Code: 60504 Total # Of Rooms: 6 Bedrooms: 3 Bathrooms: 1 Lot Size: Less Than .25 Acre Approx Sq Ft: 1020 Type of House: 1 Story Living Room Size: 17X12 Master Bedroom Size: 17X11 Garage Type: Detached, 2 Car Garage Parking: On-Site Age: 26-50 Years Exterior Building Type: Aluminum/Vinyl/Steel Siding Elementary Sch Dist: 204 High Sch Dist: 204
Prepared By: Christian Chase Chase Real Estate, LLC
Comparables Subject Property
Comp #1
3054 TIMBER HILL LN Aurora, Illinois 60504
840 BLOOMFIELD LN Aurora, Illinois 60504
1525 SYCAMORE LN Aurora, Illinois 60504
2270 S Crescent LN Aurora, Illinois 60504
MLS #:
07417349
07038683
07290616
Status:
CLSD
CLSD
CLSD
$114, 900
$139, 900
$145, 000
$117, 500 (F)
$126, 000 (F)
$127, 000
Address:
List Price: Sold Price: Closed Date:
Adjustment Comp #2
Adjustment Comp #3
03/26/2010
11/05/2009
11/19/2009
Total # Of Rooms: 6
6
8
5
Bedrooms - Above Grade: 3
3
3
2
Total Full/Half Baths: 1
1
2
1
Subdivision:
Georgetown
Lot Size: Less Than .25 Acre
Adjustment
Green Hills
Less Than .25 Acre
Less Than .25 Acre
1075
1422
1 Story
RANCH
1 Story
Living Room Size: 17X12
18X14
16X13
10X18
Master Bedroom Size: 17X11
15X11
15X12
11X12
None
Partial, Unfinished
None
Detached, 2 Car Garage
2 Car Garage, 2.5 Car Garage
Attached, 2 Car Garage
Off Street
None/Not Applicable
Off Street
11-25 Years
26-50 Years
11-25 Years
Aluminum/Vinyl/Steel Siding
Aluminum/Vinyl/Steel Siding
Aluminum/Vinyl/Steel Siding
Elementary Sch Dist: 204
204
204
204
High Sch Dist: 204
204
204
204
F
F
N/A
Approx Sq Ft: 1020 Type of House: 1 Story
Less Than .25 Acre
Dining Room:
Model: Basement: Garage Type: Detached, 2 Car Garage Parking: On-Site Age: 26-50 Years Exterior Building Type:
Aluminum/Vinyl/Steel Siding
Short Sale/Foreclosed/Court Approved: Total Adjustments:
Adjusted Price:
Prepared By: Christian Chase Chase Real Estate, LLC
$0
$0
$0
$117500
$126000
$127000
Comparables (continued) Subject Property
Comp #4
3054 TIMBER HILL LN Aurora, Illinois 60504
2645 PRAIRIEVIEW LN Aurora, Illinois 60502
2290 S CRESCENT LN Aurora, Illinois 60504
1198 ARROWWOOD CT Aurora, Illinois 60504
MLS #:
07201037
07407312
07380419
Status:
CLSD
CTG
PEND
List Price:
$169, 900
$128, 000
$134, 900
Sold Price:
$158, 500
Address:
Closed Date:
Adjustment Comp #5
Adjustment Comp #6
Adjustment
11/25/2009
Total # Of Rooms: 6
6
5
6
Bedrooms - Above Grade: 3
2
2
3
Total Full/Half Baths: 1
1
1
2
Butterfield
Green Hills
Green Hills
Less Than .25 Acre
Less Than .25 Acre
.25-.49 Acre
1 Story
1 Story
1 Story
Subdivision: Lot Size: Less Than .25 Acre Approx Sq Ft: 1020 Type of House: 1 Story
Combined w/ LivRm
Combined w/ LivRm
Living Room Size: 17X12
Dining Room:
18X13
18X13
15X15
Master Bedroom Size: 17X11
12X11
12X11
15X13
Model: Basement:
Crawl
None
Attached, 1 Car Garage
Attached, 2 Car Garage, Garage Door Opener(s) (Auto), Transmitter(s)
Attached
Off Street
Off Street
Off Street
11-25 Years
26-50 Years
26-50 Years
Aluminum/Vinyl/Steel Siding
Aluminum/Vinyl/Steel Siding
Aluminum/Vinyl/Steel Siding
Elementary Sch Dist: 204
204
204
204
High Sch Dist: 204
204
204
204
Garage Type: Detached, 2 Car Garage Parking: On-Site Age: 26-50 Years Exterior Building Type:
Aluminum/Vinyl/Steel Siding
Short Sale/Foreclosed/Court Approved:
N/A Total Adjustments:
Adjusted Price:
Prepared By: Christian Chase Chase Real Estate, LLC
$0
$0
$0
$158500
$128000
$134900
Comparables (continued) Subject Property
Comp #7
3054 TIMBER HILL LN Aurora, Illinois 60504
2480 VILLAGE AVE Aurora, Illinois 60504
2242 HIGHFIELD LN Aurora, Illinois 60504
1145 NORWOOD LN Aurora, Illinois 60504
MLS #:
07440076
07415773
07466944
Status:
CTG
CTG
ACTV
$139, 900
$140, 000
$150, 000
Address:
List Price:
Adjustment Comp #8
Adjustment Comp #9
Adjustment
Sold Price: Closed Date: Total # Of Rooms: 6
8
5
5
Bedrooms - Above Grade: 3
3
2
3
Total Full/Half Baths: 1
2
1
1
Green Hills
Georgetown
Less Than .25 Acre
Less Than .25 Acre
Less Than .25 Acre
1 Story
1 Story
1 Story
Subdivision: Lot Size: Less Than .25 Acre Approx Sq Ft: 1020 Type of House: 1 Story
Separate
Combined w/ LivRm
Combined w/ LivRm
Living Room Size: 17X12
Dining Room:
16X14
18X13
16X16
Master Bedroom Size: 17X11
12X12
12X11
14X12
Attached, 2 Car Garage, 2.5 Car Garage, Garage Door Opener(s) (Auto)
Attached, 2 Car Garage, Garage Door Opener(s) (Auto)
Attached, 2 Car Garage, Garage Door Opener(s) (Auto), Transmitter(s)
None/Not Applicable
Off Street, On-Site
None/Not Applicable
26-50 Years
11-25 Years
26-50 Years
Aluminum/Vinyl/Steel Siding
Aluminum/Vinyl/Steel Siding
Aluminum/Vinyl/Steel Siding, Brick
Elementary Sch Dist: 204
204
204
204
High Sch Dist: 204
204
204
204
Model: Basement:
Full
Garage Type: Detached, 2 Car Garage Parking: On-Site Age: 26-50 Years Exterior Building Type:
Aluminum/Vinyl/Steel Siding
Short Sale/Foreclosed/Court Approved: Total Adjustments:
Adjusted Price:
Prepared By: Christian Chase Chase Real Estate, LLC
$0
$0
$0
$139900
$140000
$150000
Comparables (continued)
Address:
Subject Property
Comp #10
3054 TIMBER HILL LN Aurora, Illinois 60504
2205 BANNISTER LN Aurora, Illinois 60504
MLS #:
07488346
Status:
ACTV
List Price:
Adjustment
$154, 900
Sold Price: Closed Date: Total # Of Rooms: 6
5
Bedrooms - Above Grade: 3
2
Total Full/Half Baths: 1
1
Subdivision:
Green Hills
Lot Size: Less Than .25 Acre
.25-.49 Acre
Approx Sq Ft: 1020 Type of House: 1 Story
1 Story
Dining Room:
Combined w/ LivRm
Living Room Size: 17X12
18X13
Master Bedroom Size: 17X11
13X12
Model: Basement: Attached, 1 Car Garage, Garage Door Opener(s) (Auto), Transmitter(s)
Garage Type: Detached, 2 Car Garage Parking: On-Site
None/Not Applicable
Age: 26-50 Years
11-25 Years
Exterior Building Type: Aluminum/Vinyl/Steel Siding
Aluminum/Vinyl/Steel Siding, Cedar
Elementary Sch Dist: 204
204
High Sch Dist: 204
204
Short Sale/Foreclosed/Court Approved: Total Adjustments:
Adjusted Price:
Prepared By: Christian Chase Chase Real Estate, LLC
$0
$154900
Key
MLS #
Status
Address
Price
Beds
Baths
1)
07417349
CLSD
840 BLOOMFIELD LN
$117,500
3
1
2)
07038683
CLSD
1525 SYCAMORE LN
$126,000
3
2
3)
07290616
CLSD
2270 S Crescent LN
$127,000
2
1
4)
07201037
CLSD
2645 PRAIRIEVIEW LN
$158,500
2
1
5)
07407312
CTG
2290 S CRESCENT LN
$128,000
2
1
6)
07380419
PEND
1198 ARROWWOOD CT
$134,900
3
2
7)
07440076
CTG
2480 VILLAGE AVE
$139,900
3
2
8)
07415773
CTG
2242 HIGHFIELD LN
$140,000
2
1
9)
07466944
ACTV
1145 NORWOOD LN
$150,000
3
1
10)
07488346
ACTV
2205 BANNISTER LN
$154,900
2
1
Prepared By: Christian Chase Chase Real Estate, LLC