Park City Ski in/out Fix and Flip

[Steele Dewald]

Investment Info:

Condo fix & flip investment in Park City.

Purchase price: $585,000
Cash invested: $142,000
Sale price: $1,150,000

I bought a 1,100 sqft ski-in/out one-bedroom condo at the base of Park City Resort. Recently a two-bedroom sold for 760k. That two-bedroom is actually the exact same floorplan as the one-bedroom I bought only difference is that they added a bedroom. We are going to put about 50k into a remodel and add a bedroom and hopefully sell it in the 780-790k range in 6 months. If it is renting well on Airbnb we may hold it for longer.

UPDATE:

We ended up selling this property for far more than expected. The final sales price was $1,150,000 in the month of August. We ended up doing a full remodel so the costs ended up at $142,000.