$1,050,000

As-is price

Purchase price

$205,568

Renovations

$1,525,000

Sales price

Resale price

$269,432

Profit

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Scope of work

Flooring, interior & exterior painting, new windows installed, wallpaper removal, baseboard & trim, living room & dining room open concept, bathroom refresh, kitchen remodel and new appliances installed, electrical full home rewire, and lighting enhancements

Before & After

Summary

Agent Justin Hedemark of Helm Real Estate and Revive Property Advisor Jon Salas partnered together to take on a pretty big challenge: renovating a home under a reverse mortgage with the trustee residing out of state and concerned about income and the renovation process. Knowing a lot was on the line, Justin and Jon put together a renovation plan that focused on value-enhancing upgrades that included new flooring, interior and exterior painting, the installation of new windows, wallpaper removal, and the creation of an open-concept living and dining area. Additionally, the bathroom and kitchen were thoroughly remodeled, new appliances were installed, the home was fully rewired, and lighting enhancements were made.

With a renovation investment of $205,568, fronted interest-free by Revive, the property's value jumped from an as-is price of $1,050,000 to a final sale price of $1,525,000, resulting in a profit of $269,432 and a project ROI of 131.07%. The home improvements not only increased Justin’s commission by 45.24% but also offered his client a lucrative resolution to her financial concerns, delivering a stress-free and profitable outcome for the seller.