Gary IN Flip Success: Profits with Doug May on E 35th Place

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $40,400
Cash invested: $12,300
Sale price: $69,500

Partner Driven, with partner Doug May, completed a fix-and-flip on E 35th Place, Gary, IN 46409. We bought the home on 1/8/2024 for $40,400, invested $12,300 in renovations, and sold it for $69,500. These strategic updates enhanced the property's appeal and value. This deal highlights Partner Driven's commitment to profitable outcomes through effective partnerships and strategic investments.

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

We were interested in the E 35th Place deal in Gary, IN, due to several key factors: Low Purchase Price: The home was acquired for just $40,400, minimizing initial investment risk. High ROI Potential: With $12,300 in renovations and a sale price of $69,500, the deal promised a solid return on investment. Strategic Location: Gary, IN, is a market with growth potential. Partnership with Doug May:

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

We found the E 35th Place deal through our partner, Doug May, who identified the opportunity and brought it directly to us. The property was available at a low purchase price of $40,400, which Doug negotiated effectively, leveraging his local market knowledge. Our combined expertise and strategic approach ensured we secured the property under favorable terms, setting the stage for a successful fix-and-flip transaction.

How did you finance this deal?

We financed the E 35th Place deal using Partner Driven's capital, covering the $40,400 purchase price and $12,300 in renovation costs. This approach allowed us to move quickly and efficiently, ensuring the project stayed on track and was completed without delays. Our financial support highlighted our commitment to providing the necessary resources for successful real estate investments.

How did you add value to the deal?

We added value to the E 35th Place deal by investing $12,300 in strategic renovations. These updates included essential repairs and improvements to enhance the property's appeal and functionality. By focusing on key areas, we increased the market value and attractiveness of the home. Our effective project management and marketing strategies ensured a quick sale, maximizing the property's value and resulting in a profitable outcome.

What was the outcome?

The outcome of the E 35th Place deal in Gary, IN, was highly successful. We purchased the property for $40,400, invested $12,300 in strategic renovations, and sold it for $69,500. This quick and profitable transaction demonstrated our effective fix-and-flip strategy. Partnering with Doug May, we maximized the property's value and achieved a significant return on investment, highlighting the strength of our collaborative approach.

Lessons learned? Challenges?

The E 35th Place deal taught us important lessons and presented challenges. Initially, we listed the property for $99,000, but it wasn't selling due to its location. Rather than letting it sit on the market, we accepted a lower offer, understanding that sometimes time is more important than waiting for the perfect offer. This experience highlighted the need for flexibility and responsiveness to market conditions. It reinforced the importance of balancing profit expectations with market trends.