Profitable Partnership on Bristol St: A Successful Flip in Scottsboro, AL

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $167,000
Cash invested: $41,000
Sale price: $285,000

Partner Driven teamed up with Preston Moore to purchase a property on Bristol St, Scottsboro, AL 35769. We bought it for $167,000 and invested $41,000 in renovations. After transforming the property, we sold it for $285,000. We split the profits 50/50 with our partner Preston, showcasing our collaborative and profitable approach to real estate investment.

What made you interested in investing in this type of deal?

Our interest in the Bristol St deal in Scottsboro, AL, was driven by its strong profit potential, a reasonable purchase price of $167,000, and a $41,000 renovation budget. Partnering with Preston Moore, we leveraged his local expertise. The growing market in Scottsboro and the property's value-add opportunities aligned perfectly with our investment strategy. This deal showcased our commitment to profitable, collaborative investments.

How did you find this deal and how did you negotiate it?

We discovered the Bristol St deal through our partner, Preston Moore, who identified the opportunity in Scottsboro, AL. Leveraging his local expertise, Preston negotiated the purchase price of $167,000. Our collaborative approach allowed us to secure favorable terms and confidently invest in the property, leading to a successful renovation and sale.

How did you finance this deal?

We financed the Bristol St deal using Partner Driven's capital, covering the $167,000 purchase price and $41,000 renovation costs. At Partner Driven, we provide comprehensive support, including funding, strategic guidance, and project management. This approach ensured the project moved forward without financial delays, enabling us to quickly transform and sell the property, maximizing the return on investment.

How did you add value to the deal?

We added significant value to the Bristol St deal in Scottsboro, AL, through comprehensive renovations. Partner Driven installed a new HVAC system, applied fresh paint, updated fixtures, and added new appliances. Additionally, we addressed all necessary repairs to ensure the home was in excellent condition. These improvements enhanced the property's appeal and market value, showcasing Partner Driven's commitment to quality and maximizing returns.

What was the outcome?

The outcome of the Bristol St deal in Scottsboro, AL, was highly successful. Partner Driven purchased the property for $167,000, invested $41,000 in renovations, and sold it for $285,000. The comprehensive renovations, including a new HVAC system, fresh paint, updated fixtures, and new appliances, significantly increased the property's value. We split the profits 50/50 with our partner, Preston Moore, highlighting the success of our collaborative approach and commitment to maximizing returns.

Lessons learned? Challenges?

The Bristol St deal in Scottsboro, AL, taught us key lessons and presented challenges. The HVAC system failed unexpectedly, adding unforeseen costs.

Lessons Learned:

Thorough Inspections: Always include major systems in the initial scope.
Contingency Budget: Set aside funds for unexpected repairs.
Flexibility: Be ready to adapt plans quickly.
These lessons highlighted the importance of thorough planning and flexibility in Partner Driven's real estate investments.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Tori Hamby
Huntsville
Real Estate Agent
2563215452