Partner Driven Deal Spotlight

Rehab Deal Success in Vero Beach, Florida with Partner Driven

Seth Choate

PARTNER  | Seth Choate
ADDRESS  | 4th Pl SW, Vero Beach, Florida

Successful Fix-and-Flip: Partner Driven and Francisco Diego Shine in Vero Beach, Florida

At Partner Driven, we are thrilled to share the success story of our recent fix-and-flip project in collaboration with our esteemed partner, Francisco Diego. This achievement underscores our expertise in enhancing property value through strategic renovations and effective project management.

The Property and Transaction Details

On March 31, 2022, we acquired a home on 4th Pl SW, Vero Beach, FL, for $100,000. Recognizing the potential for significant value appreciation, we invested $73,000 in comprehensive renovations to transform the property. Our strategic approach and efficient project management allowed us to sell the property for $267,500 on July 8, 2022. This successful and profitable sale highlighted our ability to deliver substantial returns through smart investments.

The Power of Strategic Renovations

Fix-and-flip projects require a deep understanding of market trends, precise planning, and the ability to execute renovations that maximize a property’s appeal and value. By focusing on strategic improvements, we can significantly increase market value and achieve impressive returns in a relatively short period. This approach enables us to deliver outstanding results for our partners and stakeholders.

4th pl sw, vero beach, florida
4th pl sw, vero beach, florida (2)
4th pl sw, vero beach, florida (3)
4th pl sw, vero beach, florida (4)

Frequently Asked Questions About Rehabbing Real Estate

Rehabbing a property involves purchasing a distressed or outdated home, making necessary repairs and upgrades, and then selling it for a profit. Depending on the property’s condition and market demand, this process can range from cosmetic updates to major structural renovations.

Rehabbing refers to renovation while flipping involves buying, rehabbing, and selling the property. In a flip, the goal is to increase the property’s value through repairs and improvements so that it can be sold for a higher price.

A rehab project can be financed through various methods, such as hard money loans, private lenders, traditional bank loans, or partner funds. Some investors also use their savings or seek rehab-specific loans like FHA 203(k) for properties needing renovation. Partner Driven can fund the project for you!!

Key steps include property inspection, budgeting for repairs, obtaining necessary permits, hiring contractors, managing the renovation process, and staging the property for sale. Successful rehabbing requires careful planning, cost management, and time efficiency.

Standard rehab costs include repairs to the roof, electrical systems, plumbing, kitchen and bathroom remodels, flooring, paint, and landscaping. Also, fees may be associated with permits, labor, and unforeseen structural issues during rehab.

To estimate the ARV, you must evaluate comparable sales (comps) in the area and similar properties recently sold after renovation. Analyzing these properties indicates the price you can expect to sell your property for once the rehab is complete.

Risks include underestimating rehab costs, overestimating the after-repair value (ARV), unexpected delays, changes in the real estate market, or problems with contractors. These factors can affect profitability, making proper planning and contingency budgeting essential.

The rehab and flip project timeline can vary widely depending on the property’s condition, the extent of repairs, and how quickly you can sell the property. On average, a flip can take 3 to 12 months but may take longer if unforeseen issues arise.

Properties suitable for rehabbing are often found through foreclosures, auctions, real estate wholesalers, distressed property listings, and off-market deals. Networking with other investors and real estate agents and using tools to find distressed properties are effective methods to source good deals.

Partner Driven provides mentorship, financial backing, and expert guidance for real estate investors rehabbing and flipping properties. From evaluating the after-repair value (ARV) to managing renovations and finding buyers, Partner Driven offers support to ensure profitability and minimize risks throughout the process.

More Deals with Partner Driven

About Partner Driven Real Estate

Partner Driven Real Estate Investing is a nationwide leader in real estate investment, offering a unique and comprehensive approach to learning and succeeding in real estate investing. Founded by industry experts Peter Vekselman and Julie Muse, Partner Driven combines advanced technology, full funding, expert mentorship, and collaborative partnerships to empower individuals & give them the resources to achieve their real estate investment goals.

Coaches live event 2022-2
2024-09-27T08:33:53-04:00

Share This Story, Choose Your Platform!

FacebookXRedditLinkedInTumblrPinterestVkEmail