Big Win on Buck Mountain Rd with Michael Hughett!

[Julie Muse]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $172,500
Cash invested: $33,774
Sale price: $285,000

Contributors:
Peter Vekselman

Partner Driven and Michael Hughett teamed up to purchase this home in Goodview, Virginia on 01/22/2025 for $172,500. We invested $33,774 in targeted renovations and successfully sold it on 04/28/2025 for $285,000, turning this into a solid and rewarding flip!

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

The property's location and strong resale potential caught our attention. With plenty of buyer demand in the area and a home that just needed the right updates, it fit perfectly within our strategy.

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

Michael Hughett brought this opportunity forward after identifying it as an ideal candidate for a mid-range flip. Together, we negotiated a fair price of $172,500 to leave room for improvements and a profitable exit.

How did you finance this deal?

We fully funded the project, covering both the purchase price and the $33,774 in renovation costs. This allowed Michael to stay focused on the renovation process while we handled the capital.

How did you add value to the deal?

Renovations focused on modernizing key areas like the kitchen, bathrooms, and exterior, which gave the property a fresh new look. These improvements helped boost the home’s market appeal and maximize the resale value.

What was the outcome?

We closed the sale at $285,000, delivering a healthy return for both Partner Driven and Michael Hughett. This was a smooth and successful project from start to finish!

Lessons learned? Challenges?

Sticking to a clear renovation plan and tight budget made all the difference here. The project reminded us that staying on schedule and within scope is key to hitting profit targets efficiently.