PROJECT: N. AMERICAN STREET
Joint Venture Project
916-24 N. American St - Six 4 bedroom homes overlooking Park
Purchase Price: $2,000,000
Closing Costs: $70,000
Renovation Costs: $240,000
Total Project Cost: $2,310,000
I purchased this property from a predominant Developer in Philadelphia. It was a direct-to-Owner transaction and I think he gave us the 'Family Discount'.
$400,000 total equity investment, remainder of funds borrowed from one of our great Commercial Lenders. Of the $400k, I raised $300k from Investors.
Renovated 4 units, one at a time, and sold for an average price of $650,000, more than the TOTAL project cost.
Remaining 2 units are owned Free and Clear of any Debt, and rent for $3,200/mo each.
$1,350,000 in 'Sweat Equity'
Debt Service: $0
POSITIVE CASH FLOW: $4,928 / $59,136
ROI: INFINITE
Let’s Talk!
If you’re interested in having your money work hard for you, even while you’re sleeping, complete the form below so we can discuss ways for you to profit from Passive Real Estate Investments!