Flipped & Hit: A Tough Lesson in Mount Juliet

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $190,000
Cash invested: $183,151
Sale price: $390,000

Contributors:
Peter Vekselman

Partner Driven and Vance Hudgins purchased this property in Mount Juliet, Tennessee on 8/30/2024 for $190,000. We invested $183,151 into renovations—$60,000 of that from unexpected vandalism during construction. Despite selling the home for $390,000 on 4/11/2025, the added costs led to a financial loss on this flip.

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

We saw potential in the home’s layout, size, and neighborhood appeal. On paper, this was a promising flip with enough margin to support a full renovation and a strong resale price.

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

Our trusted partner, Vance Hudgins, sourced this opportunity. We negotiated the purchase at $190,000 based on the property's condition and projected ARV, aiming to deliver a high-impact transformation.

How did you finance this deal?

As always, we provided 100% of the funding—covering both the purchase price and full renovation costs. This allowed Vance to stay focused on managing the project without worrying about capital.

How did you add value to the deal?

The home received major interior and exterior upgrades. Unfortunately, in the middle of the rehab, the property was broken into and severely vandalized, forcing us to spend an unplanned $60,000 to restore the damage.

What was the outcome?

The home sold for $390,000, but due to the unexpected renovation spike, the deal ended in a loss. It was a tough pill to swallow but a valuable experience in risk management.

Lessons learned? Challenges?

This deal reminded us that even the best-laid plans can go sideways. Vandalism completely derailed our original budget, but we saw the project through to the end. It's a testament to the grit and determination behind every flip—win or lose.