Charlotte Flip Success: Profits Soar on Sardony Lane with Garrett Moretz

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $218,000
Cash invested: $12,000
Sale price: $280,000

Partner Driven, in collaboration with Garrett Moretz, successfully completed a fix-and-flip on Sardony Lane, Charlotte, NC 28213. We purchased the home on 12/27/2023 for $218,000, invested $12,000 in renovations, and sold it for $280,000 on 3/8/2024. This deal showcased our efficient renovation strategy and commitment to delivering profitable outcomes. The partnership with Garrett Moretz exemplified our ability to maximize property value through strategic investments and collaborative efforts.

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

Partner Driven was interested in the Sardony Lane deal in Charlotte, NC, due to its high profit potential with a purchase price of $218,000 and a sale price of $280,000. The property required only $12,000 in renovations, presenting a low-risk, high-reward opportunity. Charlotte's strong market further enhanced its appeal. Partnering with Garrett Moretz provided valuable local insights, making this an attractive and strategic investment for Partner Driven.

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

We found the Sardony Lane deal through our partner, Garrett Moretz, who identified the opportunity and brought it directly to us. Garrett's local market knowledge was crucial in securing the property for $218,000. Together, we negotiated favorable terms with the seller, leveraging our combined expertise to ensure a beneficial deal. This collaboration exemplifies the importance of strong partnerships and local insights in identifying and negotiating profitable real estate opportunities.

How did you finance this deal?

Partner Driven financed the Sardony Lane deal using its own capital, covering the $218,000 purchase price and $12,000 in renovation costs. This approach allowed us to move quickly and efficiently, ensuring the project stayed on track. Our financial support demonstrated our commitment to providing the necessary resources for successful real estate investments, enabling a smooth and profitable transaction in collaboration with our partner, Garrett Moretz.

How did you add value to the deal?

Partner Driven added value to the Sardony Lane deal by investing $12,000 in targeted renovations that modernized the property and enhanced its market appeal. Our efficient project management ensured the renovations were completed on time and within budget. Additionally, our strategic marketing efforts highlighted the property's new features, attracting buyers quickly. These efforts significantly increased the property's value, leading to a successful sale at $280,000.

What was the outcome?

The outcome of the Sardony Lane deal in Charlotte, NC, was highly successful. Partner Driven and Garrett Moretz purchased the property for $218,000, invested $12,000 in renovations, and sold it for $280,000. This transaction demonstrated our effective renovation strategy and project management skills, resulting in a substantial profit. The deal highlighted the strength of our partnership with Garrett and our commitment to delivering outstanding results through strategic investments.

Lessons learned? Challenges?

We initially budgeted $5,000 for repairs, but a leaking upstairs toilet above the kitchen required additional work. We had to redo the sheetrock and remediate the water issue, increasing renovation costs to $12,000. Despite this challenge, we worked quickly to complete the repairs and still made a profit. This experience highlighted the importance of flexibility and quick response to unexpected issues in real estate investments.