Boutique hotel and bar flip
Investment Info:
Large multi-family (5+ units) fix & flip investment.
Purchase price: $300,000
Cash invested: $200,000
Sale price: $700,000
We purchased a closed 18-room boutique hotel in foreclosure, renovated the inside, and opened the hotel and later the bar and nearly the restaurant before it was sold in about 2 years. We started a local art gallery and held events like weddings and other entertainment. We hired staff that managed and ran it with us overseeing operations with a weekly Zoom call. We sold a turn-key investment that included all staff, systems, policies, and procedures.