Chicago Turnkey

Updated: Jan 7, 2013

Open to Learn More about Chicago

Chicago has one of the world’s largest and most diversified economies, with nearly 4.3 million employees and a gross regional product (GRP) of more than $500 billion. It is an efficient economic powerhouse that is home to more than 400 major corporate headquarters, including 29 Fortune 500 headquarters. Among the most diverse economies in the nation, Chicago is a key player in every sector from risk management innovation to manufacturing to information. Chicago continues to grow: total trade reached $177 billion in 2011 (up from $133 billion in 2007). Chicago is top-ranked for economic potential among major cities across the world, and in 2011, World Business Chicago identified more than 300 new & expanding facilities announced, under development or completed in the metro area, representing a total of more than 18 million square feet (up from 14 million in 2010) and $2.6 billion in economic development activity (up from $2 billion in 2010). In 2011, Inc. Magazine included 212 companies from the Chicago region in its annual list of the 5,000 fastest-growing companies in the U.S., placing Chicago 3rd among metro regions for number of jobs created by ‘Inc. 5000′ companies; the city itself was represented by 84 companies on the list. Chicago Business Growth Profile 2011 (pdf).

640px-2008-06-10_3000x1000_chicago_skyline

Seller provides a 6-month repair guarantee into the contracts. This guarantee will cover any issues related to the rehab and quality of the house. It does not include any issues specific to the tenant or mother nature. Please use the contact form below if you have any questions or would like to see more information and pictures.

Why choose Chicago? Simply put, it is because the cash flow numbers work. The rents relative to the purchase price of the homes are high relative to other areas of the country, and the Chicago metro area continues to experience excellent appreciation in rental prices. Chicago is one of only a few markets with abundant supply of 2-4 multi-family units with good construction, high rents and low acquisition prices.


Peoria Street $155,000

6 Bed/3 Bath Duplex

2246 Sqft

Year: 1945

Occupancy:


Purchase Price: $157,000 Closing Costs: $1500 (approx)

Rental Income: $2200 (Monthly)

Monthly Expenses:

  • Property Mgt: $176
  • Property Insurance: $97
  • Property Taxes: $260
  • AFH Admin Fee: $220

Yield: 11.05% Items such as repairs & vacancy are not included and will affect ROI.



6 Bed/3 Bath Duplex

2392 Sqft

Year: 1903

Occupancy:


Purchase Price: $151,500 Closing Costs: $1500 (approx)

Rental Income: $2000 (Monthly)

Monthly Expenses:

  • Property Mgt: $160
  • Property Insurance: $97
  • Property Taxes: $220
  • AFH Admin Fee: $200

Yield: 10.48% Items such as repairs & vacancy are not included and will affect ROI.



South Emerald Ave $165,000

7 Bed/3 Bath Duplex

3114 Sqft

Year: 1902

Occupancy:


Purchase Price: $166,500 Closing Costs: $1500 (approx)

Rental Income: $2200 (Monthly)

Monthly Expenses:

  • Property Mgt: $176
  • Property Insurance: $97
  • Property Taxes: $242
  • AFH Admin Fee: $220

Yield: 10.55% Items such as repairs & vacancy are not included and will affect ROI.



5 Bed/2 Bath Duplex

2400 Sqft

Year: 1903

Occupancy:


Purchase Price: $151,500 Closing Costs: $1500 (approx)

Rental Income: $2000 (Monthly)

Monthly Expenses:

  • Property Mgt: $160
  • Property Insurance: $97
  • Property Taxes: $185
  • AFH Admin Fee: $200

Yield: 10.75% Items such as repairs & vacancy are not included and will affect ROI.


HOW TO BUY

From start to finish, this process takes about three weeks, including forming your holding company or LLC.

 1. Select a House. Pick a house that appeals to you and fits your budget. Or, if you need help selecting one, please call or contact us. We can provide additional information and pictures. We’re glad to help! Once you have chosen a property, let us know (form below). We will email you a contract and application with and you will need to make a $7000 deposit to reserve the house for you. You have an “option period” (7 day free-look).
2. We Prepare Documents. American Full House will reserve the house. We prepare and email a set of purchase/LLC documents for you to sign and courier back. Based on your application, we open up the LLC bank account with your name. Along with this we have the house professionally inspected to verify it’s condition. We will arrange to have any major repair items (if any) fixed. You will receive an copy of this via email.
3. Make Final Payment. Once the property has passed the independent inspection, you make the balance of the payment and the property is officially yours! The property title and lease is transferred to you/your new LLC and the rents starting coming to you. Every property is purchased with “title insurance” which guarantees that the property of free of any encumbrances, liens, defects, etc.

All properties are subject to availability and are sold on a first-come, first-served basis.  If you cancel the transaction, you will owe only actual expenses such as professional property inspection (approx $400) and the one-time LLC formation fee ($1525). However, the LLC can be used for any future purchases. American Full House is assigned a 2% interest in the LLC; this allows us to run the LLC for you and execute contracts on your behalf (with written permission from you). Cash transactions only; we do not have financing available for foreign buyers.


You may also reach us:

      • +1-512-828-7150 (Office)
      • +1-512-947-9909 (Mobile | SMS | iMessage | WhatsApp | Viber)

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The information presented here is accurate to the best of our knowledge, however occasionally typos, human errors, and others could be present as data is entered in to the spreadsheet. We will verify all items during the closing process. The final closing documents should be used by you to verify accuracy of all information presented
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