Maximizing Returns in the Big Easy: A New Orleans Success!

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $150,000
Cash invested: $20,000
Sale price: $260,000

Contributors:
Peter Vekselman

Partner Driven, in collaboration with Jason Arguelles, bought a property on Elysian Fields Ave, New Orleans, LA, on 10/26/2023 for $150,000. We invested $20,000 in renovations, modernizing the home and increasing its appeal. On 07/30/2024, we successfully sold it for $260,000, showcasing our efficient renovation strategy and maximizing returns through a profitable partnership.

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

The Elysian Fields Ave property was an attractive opportunity due to its promising location in New Orleans and potential for a strong return on investment. The property’s value could be significantly increased with relatively minimal renovation, making it an ideal project for Partner Driven to take on and deliver strong results.

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

We found the Elysian Fields Ave property through a direct seller connection, leveraging our network to secure a favorable purchase price. The negotiation process involved understanding the seller’s needs and highlighting the benefit of a quick and smooth transaction, ensuring a win-win scenario for both parties involved.

How did you finance this deal?

As with many of our deals, Partner Driven financed the Elysian Fields Ave property through our established financial resources, which allow us to close deals efficiently and move forward with renovations quickly. Partner Jason Arguelles was also instrumental in collaborating to make the transaction seamless from start to finish.

How did you add value to the deal?

We added value to this property by investing $20,000 in key renovations, focusing on improving curb appeal, modernizing the interiors, and ensuring the home met market demands. These updates boosted the home’s attractiveness, driving buyer interest and ultimately increasing its market value.

What was the outcome?

The result of this project was a successful sale at $260,000, generating a significant return on our investment. This deal was an excellent example of how Partner Driven’s renovation strategies, combined with market expertise, can yield substantial profits in a relatively short period.

Lessons learned? Challenges?

One challenge we encountered was navigating New Orleans' unique market demands, but the strategic improvements we made were tailored to those needs. The success of this project reinforced the importance of focusing on the specific features that buyers in each market value most to maximize returns.