Quick Flip Success in Hartsville with Minimal Investment!

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $80,000
Cash invested: $6,000
Sale price: $135,000

Contributors:
Peter Vekselman

Partner Driven and Seth Choate purchased a property on Pleasant Valley Rd, Hartsville, TN, for $80,000 on 05/09/2024. After investing $6,000 in strategic renovations, we sold the home for $135,000 on 06/10/2024. This deal showcased our ability to maximize returns with minimal investment, highlighting the strength of our partnership and our commitment to delivering profitable outcomes.

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

We saw potential in this property due to its location and the ability to increase its value with minimal investment. The affordable purchase price and strategic renovation opportunity made it an ideal deal for maximizing profit in a short time frame.

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

We found this deal through our established local network in Hartsville. The seller was motivated to close quickly, and we negotiated a favorable price of $80,000, allowing us to secure the property at a discount and capitalize on its renovation potential.

How did you finance this deal?

We financed the purchase with Partner Driven's resources, combining both equity and capital provided by our partner, Seth Choate. This collaboration allowed us to quickly close the deal and start renovations immediately, streamlining the entire process.

How did you add value to the deal?

We enhanced the property's value by investing $6,000 in targeted renovations, including necessary repairs and updates. These improvements enhanced the property's appeal and marketability, resulting in a significant price increase when we sold it for $135,000.

What was the outcome?

The outcome was a swift and profitable sale. After acquiring the property for $80,000 and putting $6,000 into renovations, we sold it just a month later for $135,000, demonstrating our effective strategy and quick execution.

Lessons learned? Challenges?

This deal reaffirmed the importance of identifying properties where minor improvements can lead to substantial returns. The challenge was ensuring the renovation budget remained minimal, but strategic planning allowed us to stick to the $6,000 budget and still make a significant profit.