Please keep us updated on how it ends up.

While buying another STR might be appealing, upgrading and updating might give better ROI with less to manage long-term.  

Did they provide another update? 

I'm not being unrealistic with my projections but would like to set my property apart from other rental units and make it a better living experience for the tenants.This property has granite, updated kitchen, bathrooms, etc. 

Raleigh–Durham Market Update October 2025Hey everyone, here with your Raleigh–Durham October market breakdown — this month’s data tells a clear story: inventory is building, sellers are negotiating, and buyers and investors finally have a chance to catch their breath.

Quote from @Dav Pohote: I have a 1 bedroom apartment in a key location that i have updated quite nicely.

The property was purchased for $40,000 and improved with $40,000 in updates before selling for $75,000.

Need to update lease for the specific terms3.

The structure and layout made it ideal for a modern update that would appeal to buyers seeking a fully finished, move-in ready home.How did you find this deal and how did you negotiate it?

Scope of improvements included:Full interior updates: new flooring, interior paint, lighting, granite countertops, and updated appliancesAddition of high-demand short-term rental amenities: game rooms, custom bunk beds, hot tubs, swimming pools, and putting greensProfessional interior design and full furnishing to optimize guest experience and nightly ratesThese improvements were executed with the objective of maximizing long-term performance, increasing appraised value, and creating differentiated offerings within the Hot Springs vacation rental market.Refinance & Financial PerformanceUpon completion of renovations, we partnered with a local commercial lender to refinance the portfolio.Combined appraised value (ARV): $2,601,000Approved loan amount: $2,200,000 (cash-out refinance)After retiring the hard money loan, the transaction resulted in a net cash return of $300,470.51, which represents $118,181.09 more than our original down payment—effectively removing all invested capital from the project.TimelineThe full cycle—from acquisition through renovation and refinance—was completed in 174 days.OutcomeThe result is a portfolio of three fully renovated, amenity-rich lakefront properties, each now positioned to perform as premium short-term rentals with strong long-term appreciation potential.