Swift Success: Profitable Flip at Waters Edge with Mike Hardin!

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $131,000
Cash invested: $2,000
Sale price: $189,900

Contributors:
Peter Vekselman

Partner Driven, in collaboration with Mike Hardin, successfully completed a quick flip at Waters Edge #A, McHenry, IL 60050. We purchased the home on 11/2/2023 for $131,000, invested $2,000 in minor renovations, and sold it for $189,900 on 11/27/2023. This deal showcased our efficient strategy and ability to deliver profitable outcomes swiftly. The partnership with Mike Hardin 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 Waters Edge #A deal in McHenry, IL, due to its high profit potential and quick turnaround. With a purchase price of $131,000 and a sale price of $189,900, the property promised substantial returns with minimal investment. The $2,000 renovation budget presented a low-risk opportunity. Partnering with Mike Hardin 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 Waters Edge #A deal through our partner, Mike Hardin, who identified the opportunity and brought it directly to us. Leveraging Mike's local market knowledge, we secured the property for $131,000. 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 Waters Edge #A deal using its own capital, covering the $131,000 purchase price and $2,000 in minor 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, Mike Hardin.

How did you add value to the deal?

Partner Driven added value to the Waters Edge #A deal by investing $2,000 in minor renovations that enhanced the property's appeal and market readiness. Our efficient project management ensured these updates were completed swiftly and within budget. Additionally, our strategic marketing efforts highlighted the property's best features, attracting buyers quickly. These efforts significantly boosted the property's value, leading to a successful sale at $189,900.

What was the outcome?

The outcome of the Waters Edge #A deal in McHenry, IL, was highly successful. Partner Driven and Mike Hardin purchased the property for $131,000, invested $2,000 in minor renovations, and sold it for $189,900 on 11/27/2023. This transaction showcased our efficient strategy and project management skills, resulting in a substantial profit. The deal highlighted the strength of our partnership with Mike and our commitment to delivering outstanding results through strategic investments.

Lessons learned? Challenges?

The Waters Edge #A deal taught us valuable lessons and presented challenges. We learned that even minimal investment, such as a property clean-out and cleaning, can yield substantial profits. The main challenge was ensuring the property was market-ready swiftly. Despite this, we successfully sold it quickly for a significant profit. This experience reinforced the value of strategic planning, efficient execution, and the potential of low-cost improvements in real estate investments.