Highway 64 Transformation: From Fixer-Upper to $200K Success!

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $85,000
Cash invested: $65,000
Sale price: $200,000

Contributors:
Peter Vekselman

Partner Driven and Seth Choate acquired a property on Highway 64 in Lewisburg, TN, for $85,000 on 07/22/2024. With $65,000 invested in strategic renovations, we transformed the home by modernizing key areas and enhancing its curb appeal. On 11/15/2024, we successfully sold it for $200,000, delivering a remarkable return. This deal highlights the power of well-executed renovations and a strong partnership in achieving impressive profits.

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

The Highway 64 property presented a great opportunity due to its low acquisition cost and potential for substantial value increase. With the right renovations, we saw it as an ideal project to maximize returns in a growing market, especially with our experienced partner, Seth Choate, by our side.

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

Partner Driven identified the property through our direct-to-owner strategy. Our negotiation approach focused on building rapport with the seller, allowing us to secure the property below market value. We quickly saw its potential and finalized a deal with terms favorable for a successful flip.

How did you finance this deal?

We financed this deal with a combination of Partner Driven capital and Seth Choate’s expertise. By providing the necessary funding and covering renovation expenses, we ensured the project stayed on track and within budget, leading to a profitable outcome.

How did you add value to the deal?

Our $65,000 renovation budget was strategically used to modernize the property. Key updates included kitchen and bathroom remodels, new flooring, and enhancing curb appeal. Our project management kept everything on schedule, making the property highly attractive to buyers.

What was the outcome?

The outcome was a successful sale at $200,000 on 11/15/2024. The thoughtful renovation and smart pricing strategy attracted buyers quickly, resulting in a solid return for both Partner Driven and Seth Choate. This deal showcased our ability to create value and profit in a competitive market.

Lessons learned? Challenges?

A key lesson was the importance of balancing renovation costs with market expectations. While we faced minor delays with contractor scheduling, strong project management minimized impact. This experience reinforced the need for efficient budgeting and timely execution to ensure profitability.