Updated over 3 years ago on . Most recent reply
STR - Stranger Things themed cabin
Investment Info:
Other buy & hold investment.
Purchase price: $22,000
Cash invested: $27,500
We purchased this cabin off market, we are fixing it up to create a 1985/ Stranger Things themed STR. It is close to hiking, fishing, OHV trails, and horseback riding. It shares a border with the national forest, and there is a private access trailhead on the property. Only 1 hour from Colorado Springs, 20 min from 11 mile reservoir, 15 min from Florissant.
What made you interested in investing in this type of deal?
It is adjacent to another property we purchased, developing it will be considerably easier with the resources from the neighboring property.
How did you find this deal and how did you negotiate it?
Called the owners, offered 18K, they countered with 26k, settled on 22K.
How did you finance this deal?
Cash
How did you add value to the deal?
Grading in the driveway, remodeling the cabin, finishing the wiring, creating a business.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Rachelle Nardo, Cutting Edge Realty