Doubling the Value: Dearborn St Success in Hobart!

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $100,200
Cash invested: $32,000
Sale price: $212,000

Contributors:
Peter Vekselman

Partner Driven, in partnership with Ron Rowan, purchased a home on Dearborn St, Hobart, IN, for $100,200 on 2/21/2024. We invested $32,000 in renovations to modernize and enhance the property. After the upgrades, we successfully sold it for $212,000 on 8/8/2024, showcasing our ability to turn properties into high-value investments and deliver outstanding returns.

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

This property in Hobart, IN, presented a prime opportunity for Partner Driven due to its location and potential for significant value increase. We identified it as a promising deal that could be transformed with the right renovations, allowing for a substantial return on investment with strategic improvements.

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

Our partner, Ron Rowan, found the property through targeted local outreach and direct communication with the seller. We negotiated based on the property's existing condition and potential post-renovation value, successfully securing a favorable deal for both parties at $100,200, enabling us to unlock its hidden value.

How did you finance this deal?

We financed the Dearborn St project using our standard Partner Driven strategy—covering all the necessary capital for the acquisition and renovation. This allowed our partner, Ron Rowan, to focus on executing the deal without worrying about the financial burden, ensuring a smooth and profitable transaction.

How did you add value to the deal?

We added significant value by investing $32,000 in renovations, including essential repairs and upgrades to modernize the property. These enhancements not only improved its market appeal but also raised its value, transforming it into a desirable home that attracted buyers quickly.

What was the outcome?

The outcome was a resounding success. After completing the $32,000 renovation, the property was sold for $212,000 on 8/8/2024. This substantial increase in value demonstrates the effectiveness of our strategy and partnership with Ron Rowan, resulting in a profitable return on investment.

Lessons learned? Challenges?

One challenge we encountered was managing the renovation timeline to meet market demand. However, through efficient project management, we stayed on track and delivered a high-quality property. This experience reaffirmed the importance of balancing speed and quality to maximize profitability.