Strategic Renovation Yields Success: Turlock Triumph!

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $200,000
Cash invested: $30,000
Sale price: $270,000

Contributors:
Peter Vekselman

Partner Driven, in collaboration with Seth Choate, purchased a property on W Olive Ave, Turlock, CA, for $200,000 on 09/06/2022. We invested $30,000 in strategic renovations, enhancing the property's appeal and market value. The renovations were completed efficiently, and we successfully sold the home for $270,000 on 01/10/2023. This deal showcased our ability to deliver solid returns through smart investments and effective project management.

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

Partner Driven saw the potential in this Turlock property due to its solid structure and favorable location. Despite needing updates, the property presented an excellent opportunity to add value through targeted renovations. The market demand in the area also indicated a promising return on investment, making it an attractive deal for Partner Driven and our partner, Seth Choate.

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

This deal was identified through our extensive network and diligent market research. Partner Driven's strategic approach allowed us to connect with the seller directly, facilitating a smooth negotiation process. We leveraged our expertise to secure the property at a competitive price, ensuring there was enough margin to make necessary renovations and achieve a profitable sale.

How did you finance this deal?

Partner Driven financed this deal through a combination of internal capital and resources provided by our partner, Seth Choate. By pooling our resources, we minimized financial risk and maximized our capacity to complete the necessary renovations. This collaborative approach is a cornerstone of Partner Driven's strategy, allowing us to finance and execute deals efficiently.

How did you add value to the deal?

We added significant value by investing $30,000 in renovations, focusing on modernizing the property's interior and enhancing its curb appeal. Our team meticulously managed the project, ensuring that all improvements were completed on time and within budget. The renovations transformed the property, making it more attractive to potential buyers and increasing its market value substantially.

What was the outcome?

The outcome of the W Olive Ave deal was highly successful. After purchasing the property for $200,000 and investing $30,000 in renovations, we sold it for $270,000 on 01/10/2023. This transaction demonstrated Partner Driven's ability to generate a strong return on investment through strategic renovations and effective market positioning.

Lessons learned? Challenges?

The primary lesson from this project was the importance of thorough planning and execution in renovation projects. While we faced some challenges with unexpected repair needs, our proactive approach and strong project management ensured these were addressed without significant delays. This deal reinforced the value of detailed planning and adaptability in achieving successful outcomes.