Raymond St Revamp: Partnering for Big Results in Richland!

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $28,000
Cash invested: $47,000
Sale price: $110,000

Contributors:
Peter Vekselman

Partner Driven, alongside our partner Billy Medlen, acquired a home on Raymond St, Richland, MO, for $28,000 on 02/20/2024. After investing $47,000 in thoughtful renovations, we transformed the property, enhancing both its functionality and appeal. Sold on 11/22/2024 for $110,000, this project highlights our strategic approach to revitalizing homes and delivering exceptional returns for our partners.

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

This Raymond St property caught our attention due to its affordable purchase price and potential for a high return after renovations. Located in a promising area of Richland, MO, the home was a blank slate for value-driven improvements. Partnering with Billy Medlen, we saw the opportunity to create a win-win situation by transforming the property and delivering a strong profit.

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

The Raymond St deal came through local market research and networking. After identifying the property’s potential, we negotiated a competitive purchase price of $28,000 by highlighting its renovation needs. Our team’s expertise in evaluating similar homes ensured the seller agreed on a fair price, making this a seamless acquisition for Partner Driven and our partner, Billy Medlen.

How did you finance this deal?

Partner Driven financed this project through our collaborative funding model. By partnering with Billy Medlen, we provided the necessary capital to purchase the property and fund $47,000 in renovations. This joint effort enabled us to maximize the property’s potential without financial strain, proving the strength of our partnership-driven approach to real estate investing.

How did you add value to the deal?

We transformed the Raymond St property by investing $47,000 in strategic renovations. These upgrades revitalized the home, boosting its curb appeal and market value. Partner Driven’s efficient project management ensured on-time, cost-effective improvements. Coupled with tailored marketing efforts, these enhancements attracted buyers and significantly increased the property’s profitability.

What was the outcome?

The Raymond St project was a resounding success. Purchased for $28,000 and sold for $110,000 on 11/22/2024, this deal showcased our ability to maximize returns. The $47,000 renovation investment paid off with a strong sale, demonstrating the power of strategic improvements and collaboration with our partner, Billy Medlen.

Lessons learned? Challenges?

One challenge was managing extensive renovations on a modestly priced home, requiring disciplined budgeting and planning. Staying on track with timelines was crucial to avoid unnecessary holding costs. The experience reinforced the importance of working with reliable partners like Billy Medlen and focusing on targeted improvements that maximize a property’s appeal and profitability.