I spent $1,550,000 on a Dinosaur Hotel
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A team purchased a dinosaur-themed motel in Branson, Missouri, and transformed it into an Airbnb resort, spending $1,200,000 on renovations over a year. The property, initially acquired for $850,000, is situated near tourist attractions like Silver Dollar City theme park, downtown Branson, lakes, and rivers. The team documented the entire process, from the property inspection, which was conducted via a private jet to save time and maintain productivity for the eight employees, to the final market listing. The private jet trip, costing $14,000, was justified by the time saved, allowing employees to prioritize family time. The property's renovation included meeting with local project managers, selecting contractors, and addressing unexpected issues such as parking lot and HVAC system repairs, which led to an additional $500,000 in costs. The total investment eventually reached over $2,000,000, including the purchase price and renovations. Funding was secured through a bank loan covering 75% of the total cost, influenced by the bank owner's personal interest in the area, and $440,000 from four private lenders. The team also raised $387,500 for a down payment and aimed for extra funds as a 'slush fund.' The property now features a mix of unit sizes and a clubhouse with games and relaxation space. The team anticipates the property's valuation to reach a minimum of $3,000,000 after a year, with plans to refinance and repay debts while retaining funds for maintenance. The process, described as cool, fun, and frustrating, has been applied to multiple real estate asset classes successfully. The team shares their experiences and insights through their Faster Freedom Show channel and offers mentorship and free training, inviting engagement on social media and direct messages on Instagram for more information.
A team purchased a dinosaur-themed motel in Branson, Missouri, and transformed it into an Airbnb res