Rolling Prairie Renovation Success: Profitable Flip with Ron Rowan!

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $160,000
Cash invested: $25,000
Sale price: $260,000

Contributors:
Peter Vekselman

Partner Driven acquired this N Lofgren Rd property in Rolling Prairie, IN, on 03/29/2024 for $160,000. With a $25,000 renovation investment, we modernized and enhanced the home’s value. Our strategic improvements and targeted marketing paid off, resulting in a successful sale on 10/25/2024 for $260,000. Working with Ron Rowan, we achieved a rewarding outcome on this well-planned investment.

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

Partner Driven was drawn to the N Lofgren Rd property due to its solid potential for value appreciation. The modest purchase price, combined with an ideal renovation budget, presented a prime opportunity to improve the home’s market appeal. Additionally, the property’s location in Rolling Prairie, IN, aligned well with our investment strategy, making this a promising project for collaboration with our partner Ron Rowan.

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

We identified this N Lofgren Rd property through our partner network, and upon evaluation, we recognized its potential. Ron Rowan’s local insights helped us approach the seller with a fair offer of $160,000. By negotiating effectively, we reached a deal that suited both parties, allowing us to focus on planned renovations that would significantly increase the property’s resale value.

How did you finance this deal?

This investment was financed through a combination of Partner Driven capital and support from our partner Ron Rowan. By leveraging our financial resources alongside Ron's contributions, we were able to secure the property quickly and allocate funds efficiently for the $25,000 renovation. This joint approach ensured a seamless process from purchase to renovation and resale.

How did you add value to the deal?

Our $25,000 renovation budget allowed us to make targeted upgrades, modernizing the property and enhancing its appeal to buyers. We focused on high-impact areas such as kitchen and bathroom updates, as well as improving curb appeal. Strategic marketing highlighted these upgrades, making the property stand out in the market and contributing to its sale at $260,000.

What was the outcome?

The Rolling Prairie investment proved highly successful. Partner Driven and Ron Rowan acquired the property for $160,000, invested in thoughtful renovations, and sold it for $260,000 on 10/25/2024. This outcome reflects our effective project management, targeted renovation approach, and strong collaboration with Ron, culminating in a profitable deal for all parties involved.

Lessons learned? Challenges?

Throughout this project, we learned the importance of prioritizing renovations that align with buyer expectations in the area. Balancing the budget to make impactful upgrades while avoiding overspending was key to our success. Partnering with Ron was invaluable, as his local knowledge supported effective decision-making and helped us navigate any market-specific challenges efficiently.