First Fix-and-Flip Triumph with Jeff Dilldine in Linden, MI!

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $125,000
Cash invested: $105,000
Sale price: $425,000

Contributors:
Peter Vekselman

Partner Driven, along with Jeff Dilldine, purchased a home on 09/13/2023 for $125,000 and invested $105,000 in renovations. After extensive improvements, the property sold for $425,000 on 05/30/2024. As Jeff’s first fix-and-flip, this deal showcased the power of teamwork, strategy, and smart renovations, leading to a fantastic outcome.

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

Partner Driven was drawn to this Center Rd property due to its strong potential for appreciation with the right renovations. The location in Linden, MI, and the property's structure offered an excellent opportunity for a significant value boost through a fix-and-flip strategy. With Jeff Dilldine eager to dive into his first project, this deal seemed like a great fit for everyone.

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

This deal was discovered through diligent market research and networking in the Linden, MI area. Partner Driven negotiated the purchase for $125,000, based on the property's need for substantial repairs and upgrades. By presenting a competitive offer and demonstrating confidence in our ability to complete the project, we were able to close the deal successfully.

How did you finance this deal?

The Center Rd property was financed through Partner Driven’s unique investment structure, leveraging our partnership with Jeff Dilldine. We provided the capital needed to purchase the property and cover the $105,000 in renovations. This enabled Jeff to focus on learning the fix-and-flip process while having the financial backing to bring the project to life.

How did you add value to the deal?

Partner Driven added value by overseeing $105,000 worth of renovations that transformed the property. We handled everything from redesigning the layout to modernizing fixtures and improving the curb appeal. This strategic renovation approach significantly increased the home’s market value, allowing us to position it for a high return on investment.

What was the outcome?

The outcome was a resounding success. Jeff Dilldine’s first fix-and-flip turned out to be a major win, as the home sold for $425,000, delivering an excellent profit. The well-executed renovations and strategic project management helped position the property for a quick sale at a substantial markup, demonstrating the power of teamwork and a solid investment plan.

Lessons learned? Challenges?

Jeff's first fix-and-flip presented a learning curve, but the experience highlighted the importance of proper budgeting and project management. The $105,000 renovation budget was a significant commitment, but we managed the project efficiently. The biggest lesson was that with the right partner and plan, even a first-timer can achieve significant success in real estate investing.