Rick Road Flip: Major Profits in Reading with MH Property Solutions!

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $525,500
Cash invested: $40,000
Sale price: $658,000

Contributors:
Peter Vekselman

Partner Driven, in collaboration with MH Property Solutions, successfully completed a fix-and-flip on Rick Rd, Reading, PA 19607. We purchased the home on 1/16/2023 for $525,500, invested $40,000 in renovations, and sold it for $658,000 on 6/7/2023. This deal showcased our effective renovation strategy and commitment to delivering profitable outcomes. The partnership with MH Property Solutions exemplified our collaborative approach to maximizing property value through strategic investments.

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

Partner Driven was interested in the Rick Rd deal in Reading, PA, due to its high profit potential. With a purchase price of $525,500 and a sale price of $658,000, the property promised substantial returns. The $40,000 renovation budget presented a clear opportunity to add value. Reading's growing market further enhanced its appeal. Partnering with MH Property Solutions 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 Rick Rd deal through our partner, MH Property Solutions, who identified the opportunity and brought it directly to us. Leveraging their local market expertise, we secured the property for $525,500. 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 Rick Rd deal using its own capital, covering the $525,500 purchase price and $40,000 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, MH Property Solutions.

How did you add value to the deal?

Partner Driven added value to the Rick Rd deal by investing $40,000 in targeted renovations. These updates modernized the property, improved its curb appeal and significantly increased its market value. 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 boosted the property's value, leading to a successful sale at $658,00.

What was the outcome?

The outcome of the Rick Rd deal in Reading, PA, was highly successful. Partner Driven and MH Property Solutions purchased the property for $525,500, invested $40,000 in renovations, and sold it for $658,000 on 6/7/2023. This transaction showcased our effective renovation strategy and project management skills, resulting in a substantial profit. The strength of our partnership with MH Property Solutions and our commitment to delivering outstanding results through strategic investment.

Lessons learned? Challenges?

The Rick Rd deal taught us valuable lessons and presented challenges. Managing the $40,000 renovation budget required careful oversight to ensure timely completion. Coordinating contractors and staying on schedule were key challenges. Despite these, the successful sale at $658,000 highlighted the importance of strategic planning, effective project management, and strong partnerships in maximizing profitability in real estate investments with Partner Driven.