Quick Flip Success: From Purchase to Profit on White Tail Ridge!

[Julie Muse]

Investment Info:

Single-family residence wholesale investment.

Purchase price: $215,000
Sale price: $248,000

Contributors:
Peter Vekselman

Partner Driven, in collaboration with Tony Skaggs, purchased a property on White Tail Ridge Rd, Pikeville, TN, for $215,000 on 6/27/2024. With no renovations required, we leveraged the quick turnaround opportunity and sold it the same day for $248,000. This deal highlighted our ability to identify market-ready properties and move swiftly to generate a solid profit in a short time frame.

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

Partner Driven was drawn to this deal on White Tail Ridge Rd due to its prime location and immediate resale potential. The property required no renovations, allowing for a quick turnaround with minimal investment. The opportunity to maximize returns with a same-day sale made it a compelling investment.

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

This property was sourced through our extensive partner network, and we quickly recognized its market potential. Negotiations centered around securing a favorable purchase price, which we achieved through swift decision-making and leveraging our experience in evaluating properties for fast resales.

How did you finance this deal?

Partner Driven financed this deal through a strategic partnership with Tony Skaggs. We utilized our capital to cover the purchase cost, ensuring a smooth and expedited transaction. This approach allowed us to move quickly and take advantage of the immediate resale opportunity.

How did you add value to the deal?

Partner Driven financed this deal through a strategic partnership with Tony Skaggs. We utilized our capital to cover the purchase cost, ensuring a smooth and expedited transaction. This approach allowed us to move quickly and take advantage of the immediate resale opportunity.

What was the outcome?

The outcome of this deal was highly successful. Partner Driven and Tony Skaggs purchased the property for $215,000 and sold it the same day for $248,000, securing a strong profit. This swift transaction demonstrated the effectiveness of our quick turnaround strategy in generating returns with minimal investment.

Lessons learned? Challenges?

The key lesson from this deal is the importance of acting quickly when a high-potential, market-ready property becomes available. While there were no major challenges, the deal emphasized the value of thorough market analysis and timing to maximize profits without the need for renovations.