The ADA sells for $435K

EPIC Impact Investors is excited about the successful sale of its ADA investment!

The investment was EPIC's first private money deal. Several of our investors, all black, participated in raising $140K in capital to fund the acquisition of a traditional two-unit, eight-bedroom, three-bathroom Chicago property for rehab.

The unit was purchased in March 2021 and closed in July 2022 for $435K. All of the investors have been paid back their principal plus 10% interest.

https://www.redfin.com/IL/Chicago/8204-S-Ada-St-60620/home/13906572

The developer ran into issues sourcing materials due to shortages and the cost of materials skyrocketing due to COVID. Plus, supply chain and logistic problems resulted in increased lead times.

But we got it done.

A Black family purchased the home and will be occupying both units. And this is why I'm so committed to providing financing for the black community.

There are so many instances where Black developers cannot get the capital they need to acquire, start, or even finish their development projects. Then, you've got investors coming in from out of state who have no genuine interest in our communities.

The ADA investment was an opportunity for Black investors to invest in a Black developer to acquire and rehab a home in the Black community sold to a black family. And the ultimate accomplishment here is the creation of Black wealth and another step to closing the wealth gap.

This project was a labor of love, and I'm grateful to all the investors who invested in this deal.

However, we've got more work to do and want you to be a part of it.

If you have the capital to invest and are interested in passive real estate investing, invest with us at EPIC Impact here and become a part of our mission. You'll earn double-digit returns while making a positive impact on the community.

If you're a real estate investor who needs a hard money loan for a rehab, renovation, or property acquisition, you can apply here to get your project funded.