Ran as fast as I could and I won the race with no competition.
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $225,000
Cash invested: $40,000
Sale price: $326,000
I purchased a clean english tudor in Minneapolis MN, there were a few updates done and I did a light reno job on the kitchen, bath, and some light cosmetic touches in the basement. I ran the property as a vacation rental for a year and a half and used it as my crash pad when I came back to Minneapolis to visit family. I grossed over 60k with the vacation rental and I sold it 2 years after I purchased the property for 100k more than I bought it for.
What made you interested in investing in this type of deal?
Priced under market and it was a Tudor Walkout.
How did you find this deal and how did you negotiate it?
I saw an under marketed opportunity on the MLS and took advantage of the deal. I was the first one in the door and had an offer in the sellers inbox within 15 minutes of leaving the property.
How did you finance this deal?
Conventional Financing
How did you add value to the deal?
Light reno, paint, light fixtures, refinished the HW flooring.
What was the outcome?
100k in airbnb income, 100k gross profit after 2 years.