Short Term Rental - Managed from a different state

[Lauren Heinen]

Investment Info:

Single-family residence buy & hold investment in Two Harbors.

Purchase price: $180,000

STR in northern Minnesota. near Lake superior.
4 Bed / 2 Bath
Self managed from across the country.

How did you finance this deal?

Financed it 50/50 with a partner.

How did you add value to the deal?

Working with contractors and business partners to add fresh paint throughout the home & fixed things up in every room including trim, bathroom vanities, appliances, etc. Furnished entire home all while living in another state.

What was the outcome?

Currently a STR. In the first 7 months it grossed $70,000.