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Updated about 6 years ago on . Most recent reply

Mike Jacobson's profile image
Mike Jacobson's profile image
Mike Jacobson
  • Rental Property Investor
  • from Rochester MN
  • Member since Feb 10, 2018
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User Stats

64
Posts
101
Votes
Mike Jacobson's profile image
Mike Jacobson's profile image
Mike Jacobson
  • Rental Property Investor
  • from Rochester MN
  • Member since Feb 10, 2018
Connect
Mike Jacobson
  • Rental Property Investor
  • Rochester MN
101
Votes |
64
Posts
Real Estate Deal Analysis & Advice

62 room Hotel EconoLodge by Choice Hotels

Mike Jacobson
  • Rental Property Investor
  • Rochester MN
Posted

Investment Info:

Large multi-family (5+ units) fix & flip investment in Rochester.

Purchase price: $1,700,000
Cash invested: $1
Sale price: $4,300,000

Remember when you see a turtle on a fence post, he got help getting there!
We purchased a 62 room hotel in extreme distress. Valued relationships allowed us to get in with nothing down. Over the 12 years of ownership we put in around $1,000,000. Leveraged our family cabin for the initial money to remodel the hotel, $257,000.

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