Updated about 3 years ago on .
Condo Buy and Hold - Giants Ridge Ski Resort
Investment Info:
Condo buy & hold investment in Spavinaw.
Purchase price: $80,000
Cash invested: $20,000
Purchased my third investment property at Giants Ridge Ski Resort in Biwabik, Minnesota! There's plenty of activities to do all year long, including skiing, snowboarding, golfing, fishing, water, skiing, disc, golf, biking, walking, snowmobiling, and four wheeling just to name a few! There are three restaurants and bars connected to the resort along with two lakes and miles of trails for whatever activity you desire! Many places to get food, beverages, and fuel on the snowmobile or four wheeler trail as well!
What made you interested in investing in this type of deal?
Turn key, fully furnished and managed.
How did you find this deal and how did you negotiate it?
I knew a few other owners of condos at this resort, and decided to tour a couple and make an offer!
How did you finance this deal?
Conventional 20% Down, 5 year balloon, 5.5% interest rate
