The Duluth Rental Strategy That Paid for His Gull Lake Dream
From 8 Duluth Rentals to a Gull Lake Airbnb | Matthew Jennissen
SPONSORS
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ABOUT THE TCREI HOSTS
Adam Tafel – Investor, Realtor, and host of Twin Cities Real Estate Investing. Adam has helped hundreds of clients buy, sell, and analyze investment properties across the metro. He works daily with local investors and is passionate about building wealth through smart real estate strategies.
📩 adam@UpsidePropertySales.com
Tim Swierczek – Mortgage lender and experienced investor who helps clients structure financing to maximize returns and long-term wealth. Tim brings a practical, numbers-first approach that makes deals work in the real world.
📩 tim@timswierczek.com
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THIS WEEK’S EPISODE
This week we’re joined by Matthew Jennissen, who got his start buying cheap rental properties in Duluth after college. Matt and his wife lived pretty frugally and saved up one down payment after another, buying single-family homes and duplexes until they had built a portfolio of eight properties. They had always wanted to own a lake home and figured Airbnb might be a way to help pay for it. A few years ago, they found a property on Gull Lake and went for it. What followed was a massive construction project with plenty of surprises and lessons along the way. They also sold several of their Duluth properties at a great time in the market to help fund the project.
Matt gets into what he learned managing rentals in Duluth from a few hours away, what worked and what didn’t, and the growing pains that came with becoming a short-term rental investor. We talk about his actual Airbnb numbers, things he’s done to increase revenue, the construction project, and what he wants to do next. I really like Matt’s story because he’s a regular guy with a regular job who lived below his means, kept saving for the next down payment, and slowly snowballed a handful of inexpensive rentals into a pretty incredible asset on Gull Lake.
RESOURCES & LINKS
Book Matt’s Gull Lake property directly – Eagle View Cabin:
https://www.eagleviewcabinongulllake.com/
Twin Cities Real Estate Investing:
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