Spruce Street Success: Profitable Flip in Modesto with Seth Choate!

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $200,450
Cash invested: $16,000
Sale price: $319,000

Contributors:
Peter Vekselman

Partner Driven, in collaboration with Seth Choate, successfully completed a deal on Spruce Street, Modesto, CA. We purchased the home on 11/24/2021 for $200,450, invested $16,000 in renovations, and sold it for $319,000 on 7/8/2022. This profitable transaction showcased our efficient investment strategy and the strength of our partnership with Seth Choate. The deal exemplifies our ability to deliver outstanding results through strategic investments.

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

The Spruce Street deal in Modesto, CA, attracted Partner Driven due to its significant profit potential. Purchased for $200,450 with a resale value of $319,000 after $16,000 in renovations, the property offered excellent returns. The strategic location and growing Modesto market further enhanced its appeal, making it a prime investment opportunity.

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

Our partner, Seth Choate, identified the Spruce Street deal and brought it to our attention. Utilizing Seth's local expertise, we secured the property for $200,450. We negotiated favorable terms with the seller, ensuring a beneficial agreement. This collaboration highlights the importance of strong partnerships and local market knowledge in successfully identifying and negotiating lucrative real estate deals.

How did you finance this deal?

Partner Driven financed the Spruce Street acquisition using its own capital, covering both the $200,450 purchase price and the $16,000 renovation costs. This strategy allowed for swift action, keeping the project on schedule. Our financial backing underscored our dedication to providing essential resources for successful real estate ventures, facilitating a seamless and profitable transaction with our partner, Seth Choate.

How did you add value to the deal?

By investing $16,000 in renovations, Partner Driven significantly enhanced the value of the Spruce Street property. These improvements modernized the home, boosted curb appeal, and increased market value. Our project management ensured timely and budget-conscious completion. Strategic marketing efforts showcased the updates, quickly attracting buyers and maximizing the property's selling price to $319,000.

What was the outcome?

The Spruce Street deal in Modesto, CA, was a notable success. Partner Driven and Seth Choate purchased the property for $200,450, invested $16,000 in renovations, and sold it for $319,000 on 7/8/2022. This deal highlighted our effective renovation strategies and project management, resulting in a significant profit and emphasizing our strong partnership with Seth.

Lessons learned? Challenges?

The Spruce Street project provided important lessons and posed several challenges. Managing the $16,000 renovation budget required precise oversight to ensure on-time completion. Coordinating contractors and adhering to the schedule were significant hurdles. The successful sale at $319,000 underscored the value of strategic planning, effective management, and robust partnerships in achieving high profitability in real estate investments.