A four-bedroom house in the Meyerland community of southwest Houston is set to be renovated and sold as part of a contest hosted by private real estate investor Troy Kearns.
Houston resident Joel Palacios won the first national Millionaire Mentorship contest in July and has been working with Kearns to locate a property suitable for flipping.
Sponsored by the Troy Kearns Channel on YouTube, the contest offers a path for a new investor to learn about the business directly from one of the country’s most successful private real estate investors, a press release said.
Renovations are set to begin immediately on the 2,446-square-foot house, which was built in 1965. Kearns plans to utilize local contractors and suppliers to complete the flip project.
In addition to obtaining on-the-ground education, Palacios will receive half of the profit from the resale.
“I am so grateful to be the first winner of the Millionaire Mentorship contest,” Palacios said in the release. “To be able to learn from an expert like Troy Kearns is a dream come true. Plus, after everything is said and done, I’ll be left with a sizable amount to kick-start my next flip.”