Rose’s Story of a Deal Interview
Welcome to Partner Driven Real Estate Investing! We’re excited to share the journey of Rose Brown, one of our dedicated partners who has achieved remarkable success with us.
The Deal: 12 Wright Road, Fayetteville, Tennessee
- Purchase Price: $80,000
- After Repair Value (ARV): $185,000
- Repair Costs: $40,000
Background and Experience
Rose Brown is relatively new to real estate investment, with about six months of experience. She started with pre-foreclosure contract deeds and wanted more experience, education, and funding. Joining Partner Driven provided her with a comprehensive package to pursue her first fix and flip.
Finding the Deal
Rose found the property at 12 Wright Road through driving for dollars. She noticed a rundown house that looked empty, entered the information into her Deal Driven app, and contacted the seller. The seller, a tired landlord, needed time to decide about selling. Rose went above and beyond by helping the seller clean the house as a community member, not just as an investor. This genuine approach and follow-up made her the seller’s first choice when he decided to sell. Initially under contract at $92,000, negotiations brought the price down due to repairs and other issues. Now, the property is under renovation with just one week left before hitting the market.
The Importance of Follow-Up
Rose emphasizes the importance of follow-ups and considering the seller’s needs. Her willingness to help the seller led to a successful deal. She also appreciates not having to use her own money, with Partner Driven handling contracts, closing, utilities, and insurance. This support allows her to focus on finding more deals, even while working another job during the week.
Challenges and Solutions
Negotiating the price and managing renovation costs were significant challenges. Rose had to ensure repairs matched the ARV in a fluctuating market. By cutting costs creatively, such as using custom shutters and economical tiles, she managed to keep the renovation within budget. Partner Driven’s guidance and resources were crucial in overcoming these obstacles.
Benefits of Partner Driven
- No Personal Capital Required: Partner Driven provides the necessary funding.
- Comprehensive Support: From contracts and closing to utilities and insurance, everything is handled.
- Access to Resources: Videos, marketing support, and expert advice are always available.
- Community and Communication: The Partner Driven team is always accessible for guidance and support.
Join us at Partner Driven and take your real estate career to the next level. With our support and resources, your real estate dreams can become a reality. Don’t miss out on your chance to succeed in the competitive world of real estate investing.