The Four Phases of Real Estate A Success Story by LKRE

We often hear of real estate success stories with a single transaction in the spotlight – a “smooth closing,” an offer accepted “above asking”, or, perhaps, “motivated sellers” (and buyers) who simply were in the “right place at the right time”. Yada, yada. Sometimes, these seemingly successful tales can go sideways at some juncture, or drag on for far longer than necessary. In other cases, they can be a series of events that unfold in a manner that seem meant to be. Such is the case with a more recent LKRE success story. This story has four phases of its evolution:

1. Purchase

As some know, Libby Kirwin Real Estate was the listing broker for Carey School Residences. The development project was a huge win and we sold 13 units in 13 months at asking price or above. (Success: check!) A feather in the LKRE cap! During our sales initiative, one of my investors purchased the penthouse unit and thus, began the first phases of our real estate tale…

A peak at the kitchen and living room at 32 Carey Street, Unit 3A. 

2. Design & Furnish 

The Design & Renovation arm of my company, LKRDC, was the leader in selecting all the finishes for the individual units and common areas of the building. Utilizing my design company, my investor enlisted our expertise to bring the unit to life with thoughtful design. After the unit was fabulously furnished, my investor and his family were able to enjoy the unit throughout the summer, celebrating birthdays on the rooftop deck and relishing in a carefree Newport season.

The penthouse has so many luxe nooks and crannies… we had so much fun designing this unit!

It’s all in the mix…design elements selected by LKRDC

3. Rent

After enjoying the unit with his family for a few seasons, I then helped secure the first tenant to rent the unit. After the full lease term was completed, we welcomed another lovely tenant.

There is no shortage of lustful light. I love the serene palette and industrial touches… 

4. Sell (with profit)

It was this second tenant that became smitten with the unit (I couldn’t blame her!) and offered to buy it from my investor. My investor was not only pleased as punch to hear this news, but walked away with a profit, an ideal outcome of course, for any investment. Ta, da! Talk about full circle. Our beautiful real estate tale got it’s fairy tale ending.

In this industry, you very often don’t know what the universe will deliver… and I love discovering the many ways it will bring people together and mold experiences. Each phase of this story was not all roses and sunshine of course, it took an immense amount of sweat equity, patience, persistence and trust.  But with most rewarding things in life, they are often the result of hard work. This tale was truly a win-win for all, and for that, I am most proud!

Contact me today if you want to write your own success story…