Quick Turnaround Success: Profitable Flip in Houston!

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $93,000
Cash invested: $18,000
Sale price: $145,000

Contributors:
Peter Vekselman

Partner Driven, in collaboration with Lawrence Cosper, purchased a home on W Knoll St, Houston, TX, for $93,000 on 2/18/2022. We invested $18,000 in renovations to modernize the property and increase its appeal. These efforts paid off when we successfully sold the home for $145,000 on 3/11/2022. This deal highlights our commitment to strategic investments and effective project management, leading to a profitable outcome.

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

Partner Driven was drawn to this deal due to its prime location in Houston and the property's potential for a profitable flip. The low purchase price of $93,000, combined with the possibility of adding value through targeted renovations, made it an attractive investment opportunity. Our experience in similar projects and the strong market demand in the area further solidified our interest in this property.

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

Partner Driven found this deal through direct outreach and networking with local sellers in Houston. Our partner, Lawrence Cosper, identified the property as an off-market opportunity, allowing us to negotiate directly with the seller. We leveraged our expertise in property evaluation and market analysis to secure the deal at a favorable price of $93,000, ensuring both parties were satisfied with the terms and conditions.

How did you finance this deal?

Partner Driven financed this deal through a combination of private capital and strategic investment funds. By leveraging our established network of investors and financial partners, we were able to secure the necessary funds to purchase the property at $93,000. This approach allowed us to act quickly and efficiently, ensuring that the deal was closed without delays and providing our partner, Lawrence Cosper, with the resources needed for the renovation and resale process.

How did you add value to the deal?

Partner Driven added value to the W Knoll St deal by investing $18,000 in targeted renovations. We updated key areas like the kitchen and bathrooms, improved the property's curb appeal, and addressed any necessary repairs to ensure the home was move-in ready. Our efficient project management and strategic marketing highlighted these enhancements, attracting buyers quickly and maximizing the property's market value, leading to a successful sale at $145,000.

What was the outcome?

The outcome of the W Knoll St deal was a success. Partner Driven and Lawrence Cosper purchased the property for $93,000, invested $18,000 in renovations, and sold it for $145,000 on 3/11/2022. The strategic improvements and efficient project management led to a quick sale, resulting in a solid profit. This deal highlighted our ability to maximize returns through smart investments and effective partnerships.

Lessons learned? Challenges?

Lessons learned from the W Knoll St deal include the importance of precise budgeting and managing unexpected challenges during renovations. Although the project was successful, there were minor delays that required quick adjustments. Ensuring clear communication with contractors and keeping a flexible approach proved crucial. This experience reinforced the value of adaptability and thorough planning in achieving profitable outcomes.