Quick Turnaround Success: Profitable Flip on N Orchard Knob Ave with Seth Choate

[Julie Muse]

Investment Info:

Retail wholesale investment.

Purchase price: $135,000
Sale price: $165,000

Contributors:
Peter Vekselman

Partner Driven, in collaboration with Seth Choate, successfully completed a quick flip on N Orchard Knob Ave, Chattanooga, TN. We purchased the property on 04/03/2024 for $135,000 and sold it on 06/14/2024 for $165,000. This deal highlights our efficient turnaround strategy, leveraging market knowledge and partnership to achieve a solid profit within a short timeframe.

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

Partner Driven saw potential in the N Orchard Knob Ave property due to its prime location and below-market purchase price. The relatively low initial investment combined with Chattanooga’s rising real estate market presented an excellent opportunity for a quick, profitable turnaround.

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

We discovered the N Orchard Knob Ave property through direct seller outreach, leveraging local connections and market knowledge. After negotiating, we secured the property for $135,000, which was below market value, ensuring a strong margin for resale.

How did you finance this deal?

This deal was financed through a combination of Partner Driven capital and our partner Seth Choate's resources. Utilizing our collaborative financing model allowed for efficient funding, covering both the purchase price and any necessary costs associated with the resale.

How did you add value to the deal?

We strategically improved the property with minimal investment, focusing on cleaning and minor updates to enhance its market appeal. By targeting key areas that would increase buyer interest without a full renovation, we significantly boosted the property’s value.

What was the outcome?

The outcome was highly successful, with the property purchased for $135,000 and sold for $165,000 within two months. This quick turnaround yielded a solid profit, showcasing our expertise in fast-paced real estate transactions and market timing.

Lessons learned? Challenges?

This deal reinforced the value of minimal yet targeted improvements. We learned that focusing on strategic updates, rather than a full renovation, can maximize returns. The key challenge was balancing speed and value, ensuring quick completion while enhancing appeal.