6th St E Triumph: Big Profits with Adbi Nur in St. Paul!

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $135,000
Cash invested: $62,000
Sale price: $265,000

Partner Driven, in collaboration with Adbi Nur, successfully completed a fix-and-flip on 6th St E, St Paul, MN 55106. We bought the property for $135,000 on 11/06/2023, invested $62,000 in repairs, fully updated and finished the basement, and sold it for $265,000 on 03/22/2024. This deal showcased our commitment to strategic renovations and efficient project execution.

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

We were interested in the 6th St E deal in St Paul, MN, due to several factors: High Profit Potential: The property offered a significant profit margin, with a purchase price of $135,000 and a sale price of $265,000. Strategic Renovation: The need for updates and finishing the basement presented a clear opportunity to add value. Quick Turnaround: The fix-and-flip strategy allowed for a rapid transaction. Partnership with Adbi Nur:

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

We found the 6th St E deal through our partner, Adbi Nur, who identified the opportunity. The seller needed to sell quickly due to personal reasons, which allowed us to negotiate favorable terms. Adbi's local market knowledge was instrumental in securing the property for $135,000. Our combined expertise and strategic approach ensured a successful fix-and-flip transaction for Partner Driven.

How did you finance this deal?

We financed the 6th St E deal using Partner Driven's capital, covering the $135,000 purchase price and $62,000 in repair costs. This approach allowed us to proceed efficiently and without delays. Our financial backing ensured the project's smooth execution, enabling us to complete the renovations and sell the property for $265,000. Partner Driven's commitment to providing the necessary resources was key to the successful outcome of this investment.

How did you add value to the deal?

We added value to the 6th St E deal by implementing strategic renovations and updates. We invested $62,000 in repairs, which included fully updating the property, finishing the basement, and installing egress windows for safety and added appeal. These improvements significantly enhanced the property's market value. Additionally, our efficient project management and marketing strategies ensured the property attracted buyers quickly.

What was the outcome?

The outcome of the 6th St E deal in St. Paul, MN, was highly successful. We purchased the property for $135,000, invested $62,000 in repairs including updates, finishing the basement, and adding egress windows, and sold it for $265,000 on 03/22/2024. Interestingly, the real estate agent's mom bought the property, which we thought was cool.

Lessons learned? Challenges?

The 6th St E deal taught us important lessons and presented challenges. We discovered that St. Paul, MN, requires an additional county inspection when buying or selling, emphasizing the need for local regulatory knowledge. Strategic renovations, like finishing the basement and adding egress windows, greatly increased the property's value. Selling to the real estate agent's mom was a unique and pleasant outcome. Challenges included navigating the extra inspection and managing $62,000 in repairs.