Investment Info:
Single-family residence fix & flip investment.
Purchase price: $195,000
Cash invested: $52,000
Sale price: $317,900
Contributors:
Peter Vekselman
Partner Driven, in collaboration with Jason Arguelles, successfully completed a fix-and-flip on St. Scholastica Dr, Slidell, LA 70460. We purchased the home on 6/7/2023 for $195,000, invested $52,000 in renovations, and sold it for $317,900 on 11/21/2023. This deal showcased our effective renovation strategy and commitment to delivering profitable outcomes. The partnership with Jason Arguelles exemplified our collaborative approach to maximizing property value through strategic investments.
What made you interested in investing in this type of deal?
Partner Driven was interested in the St. Scholastica Dr deal in Slidell, LA, due to its high profit potential. With a purchase price of $195,000 and a sale price of $317,900, the property promised substantial returns. The $52,000 renovation budget presented a clear opportunity to add value. Slidell's growing market further enhanced its appeal. Partnering with Jason Arguelles provided valuable local insights, making this an attractive and strategic investment for Partner Driven.
How did you find this deal and how did you negotiate it?
We found the St. Scholastica Dr deal through our partner, Jason Arguelles, who identified the opportunity and brought it directly to us. Leveraging Jason's local market expertise, we secured the property for $195,000. Together, we negotiated favorable terms with the seller, ensuring a beneficial deal. This collaboration underscores the importance of strong partnerships and local insights in identifying and negotiating profitable real estate opportunities.
How did you finance this deal?
Partner Driven financed the St. Scholastica Dr deal using its own capital, covering the $195,000 purchase price and $52,000 in renovation costs. This approach allowed us to proceed quickly and efficiently, ensuring the project stayed on track. Our financial support demonstrated our commitment to providing the necessary resources for successful real estate investments, enabling a smooth and profitable transaction in collaboration with our partner, Jason Arguelles.
How did you add value to the deal?
Partner Driven added value to the St. Scholastica Dr deal by investing $52,000 in comprehensive renovations. These updates modernized the property, improved its curb appeal, and increased its market value. Our efficient project management ensured the renovations were completed on time and within budget. Our strategic marketing efforts highlighted the property's new features, attracting buyers quickly. These efforts significantly boosted the property's value, leading to a successful sale.
What was the outcome?
The outcome of the St. Scholastica Dr deal in Slidell, LA, was highly successful. Partner Driven and Jason Arguelles purchased the property for $195,000, invested $52,000 in renovations, and sold it for $317,900 on 11/21/2023. This transaction showcased our effective renovation strategy and project management skills, resulting in a substantial profit. The deal highlighted the strength of our partnership with Jason and our commitment to delivering outstanding results.
Lessons learned? Challenges?
The St. Scholastica Dr deal taught us valuable lessons and presented challenges. Our original estimate for renovations was $35,000, but we ended up spending $52,000. The HVAC system needed full replacement, and landscaping costs increased due to an extra lot that required clearing. This experience highlighted the importance of thorough initial assessments and flexibility in budgeting, reinforcing the need for strategic planning and adaptability in real estate investments.
