Watering Place Win: Quick Profits in Knoxville with Seth Choate

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $350,000
Cash invested: $1,500
Sale price: $417,000

Contributors:
Peter Vekselman

Partner Driven, in collaboration with Seth Choate, successfully completed a quick flip on Watering Place, Knoxville, TN. We purchased the home on 11/16/2023 for $350,000, invested $1,500 in minor renovations, and sold it for $417,000 on 02/13/2024. This deal highlighted our efficient strategy and ability to deliver profitable outcomes with minimal investment. The partnership with Seth Choate exemplified our collaborative approach to real estate success.

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

Partner Driven was interested in the Watering Place deal in Knoxville, TN, due to its high profit potential with a purchase price of $350,000 and a sale price of $417,000. The property required only $1,500 in minor renovations, making it a low-risk, high-reward investment. Knoxville's strong market added to its appeal. Partnering with Seth Choate 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 Watering Place deal through our partner, Seth Choate, who identified the opportunity and brought it directly to us. Seth's local market expertise was crucial in securing the property for $350,000. Together, we negotiated favorable terms with the seller, ensuring a beneficial deal. This collaboration underscores 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 Watering Place deal using its own capital, covering the $350,000 purchase price and $1,500 in minor renovation costs. This approach allowed us to proceed 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, Seth Choate.

How did you add value to the deal?

Partner Driven added value to the Watering Place deal by investing $1,500 in minor renovations that enhanced the property's appeal and market readiness. Our efficient project management ensured these updates were completed quickly and within budget. Additionally, our strategic marketing efforts highlighted the property's new features, attracting buyers swiftly. These efforts significantly increased the property's value, leading to a successful sale at $417,000.

What was the outcome?

The outcome of the Watering Place deal in Knoxville, TN, was highly successful. Partner Driven and Seth Choate purchased the property for $350,000, invested $1,500 in minor renovations, and sold it for $417,000 on 02/13/2024. This transaction showcased our efficient strategy and project management skills, resulting in a substantial profit. The deal highlighted the strength of our partnership with Seth and our commitment to delivering outstanding results through strategic investments.

Lessons learned? Challenges?

On this deal, we didn't do a complete renovation. Instead, we had someone clean and do light landscaping before putting it back on the market. Sometimes, minimal updates can yield the same profit as full renovations. This experience taught us to analyze each deal carefully for maximum profitability and to recognize when minimal investment can achieve substantial returns.