Water Street Revamp: Strategic Renovation Pays Off in Delphi, IN

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $21,000
Cash invested: $25,000
Sale price: $55,500

Contributors:
Peter Vekselman

Partner Driven, in collaboration with Tricia Hart, successfully completed a renovation project on Water Street in Delphi, IN. We purchased the property for $21,000, invested $25,000 in renovations to modernize and enhance its appeal, and sold it for $55,500 on 03/29/2022. This project showcased our ability to add significant value through strategic improvements, resulting in a profitable sale for our partnership.

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

This Water Street property in Delphi, IN, was an attractive investment due to its low purchase price of $21,000 and the potential for significant value addition through targeted renovations. Partner Driven saw an opportunity to transform the property with strategic improvements, enhancing its appeal and market value.

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

Partner Driven found this Water Street deal through a direct-to-seller approach, leveraging our extensive network. After assessing the property’s potential, we negotiated a favorable purchase price of $21,000, ensuring room for profitable renovations and a solid return on investment.

How did you finance this deal?

This Water Street deal was financed through a combination of private funding and resources from our partner, Tricia Hart. By pooling financial resources, we secured the property and funded the $25,000 renovation, ensuring the project was well-capitalized from start to finish.

How did you add value to the deal?

We added significant value to the Water Street property by investing $25,000 in strategic renovations, which included modernizing key areas of the home, improving its curb appeal, and ensuring it was market-ready. These enhancements made the property more attractive to potential buyers, driving up its final sale price.

What was the outcome?

The outcome of the Water Street project was highly successful. After purchasing the property for $21,000 and investing $25,000 in renovations, we sold it for $55,500 on 03/29/2022. This transaction not only delivered a solid profit but also showcased the effectiveness of our renovation strategy.

Lessons learned? Challenges?

One key lesson from the Water Street project was the importance of careful budgeting for renovations. Despite the challenges of managing a tight budget, we successfully transformed the property and achieved a profitable outcome. This experience reinforced the value of strategic planning and efficient project management.