Follow our Remodel
We'll update this page from time to time, but for the latest, check us out on Instagram @valentinestatepublications .
This is the newest property we've purchased (or should I say "most recent", technically it's the oldest we've ever purchased dating back to 1899). We thought it'd be fun to document the process of renovating and remodeling this property for the world to follow, to hopefully inspire others to tackle a similar project, or to help show how we like to renovate and setup a property for our guests. We'll mainly post the details on Instagram, so for the latest and most detailed account, follow us there! We'll only summarize some of the key steps here.
We purchased this three-family 120+ year old home as a "turnkey" Airbnb rental; although it was functioning as a rental when we closed the deal, we knew it definitely did not fit our standards for a proper rental, much work would be required, including fixing quite a bit of code compliance issues from shoddy work done by the previous owner.
We had three years of property history for this property, so we knew a little about it's ability to generate income as-is. Our plan was to invest significant money into upgrading it, and see if we could get it to produce even more. We haven't even owned it for a season yet, so you'll know as soon as we know whether or not it was successful!
Here's what we bought, for $265,000. Three-family, fully-furnished Airbnb investment in Michigan's upper peninsula. At the time of closing, we had only ever stepped in two of the units, we knew one was a total remodel (near-gut-job), and we knew one unit was pretty decent but needed paint and some new décor. We had no idea what was behind Door #3!
Stay tuned to see progress on this property...