$3,000,000

As-is price

$188,346

Renovations

$3,950,000

Sales price

$761,654

Profit

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Scope of work

Flooring reroofing, interior & exterior painting, bathroom enhancement, kitchen refresh, hardscape & softscape, lighting enhancements and staging.

Before & After

Summary

In a unique and personal real estate story, agent David Pennebaker of Compass, also the homeowner and trustee of this project, partnered with Revive Property Advisor Luke Gutierrez to help increase the property’s value. The home, originally valued at $3,000,000, underwent $188,346 worth of renovations, fully funded interest-free by Revive. These improvements included new flooring, re-roofing, interior and exterior painting, bathroom and kitchen refreshes, improvements to both hardscape and softscape, lighting enhancements, and professional staging.

The renovations led to a sale price of $3,950,000, netting a profit of $761,654. For David, this project was not just a business transaction but a personal one. In the past, David had fronted the money for pre-sale property enhancements himself, sometimes up to $100,000. This time, however, the collaboration with Revive marked a new approach, significantly increasing his commission by 31.67% and achieving an ROI of 404.39%, with no money spent out-of-pocket.