Spotting value: a Revive Concierge case study
Like many homeowners in the Bay Area, the Roosevelt family felt that it was time for a change. When they made the decision to list their house, it was almost a foregone conclusion that they would sell as-is. Although they knew that turnkey homes were more enticing to buyers, they also knew that renovations can be costly and time consuming.
Spotting the untapped potential, realtor John Woodruff offered our home concierge service as a solution to their dilemma. This is the story of how we helped the Roosevelt family maximize their property’s potential.
The Roosevelts faced a number of obstacles when deciding to list their home. Their home was in very poor condition due to a lack of resources. In its original state, the home would have sold as-is for the price of the lot. They knew they would be leaving money on the table, but money wasn’t exactly growing on trees.
John introduced the family to our Revive experts. He recalls the family feeling defeated and overwhelmed, stating that “it was in such a poor condition that I don't think you could have gotten a loan.”
Familiar with the Bay Area real estate market, we knew that this home had tremendous upside. Our team conducted a comparative analysis, identified key renovation features, and projected the ARV (after repair value). We then created a detailed plan for how to complete the project in just 6 weeks. This potential defeat turned into a win-win situation all around.
Home Concierge for the Win
Revive helps people flip their own homes while sharing the upside. When we renovate homes, the average return on investment for clients is 150%-- in this case, it was far more. Here’s how we work:
Step 1: Meet with our expert
Start by meeting with our experts and creating a renovation plan with no obligations to you. We look for all kinds of ways that could maximize value before we even start.
Step 2: Get matched with the perfect service provider
Step 3: Get renovations fronted to transform your home
We fund the project upfront-- all you have to do is pay us back when you sell your house for more.
Step 4: Flip your home and benefit from maximizing the value
Our team completes projects in half the time of a traditional home renovation. “We put together the team, we got the design done and one of the miraculous things about Revive was, we got it done in six weeks.”
Then, we work with your agent to put your house on the market and sell quickly.
The End Result
If the Roosevelt family had sold as-is, they would have made somewhere in the range of $850,000. Then, Revive stepped in with smart renovations. The floors were replaced throughout the home, windows and doors were replaced, but the value didn’t stop there.
We replaced the bathroom vanity, added new faucets and sinks, and revamped the lighting and appliances in the kitchen. It took about $225,000 in renovations, but it was worth it.
The home sold for a price of $1,630,000 which resulted in $555,000 in increased profit!
Revive Makes a Difference
Our Home Concierge program gave the Roosevelt family a new beginning.
Working with Revive led to over half a million dollars in added value. The home sold right away with competitive offers above the original asking price. The combination of a hassle free experience, fronted capital, and a team of experts drove the value of our client’s home much more than expected.