All Forum Posts by: Jarrod Kohl

 A side benefit of using an agent in that market. Unless you don't plan on investing there anymore, its great to establish a little bit of a team and they can help you find new opportunities that come up.

 Why?
You have narrowed down the entire country into two markets to choose from, Congrats! Now find the best deal in those two markets and start buying. You are already Out of State. Plan to have 5 doors in each market in the next 5 years. Or just go with whichever ground team seems to be doing the best job. 

Stop the analysis of markets, and start focusing on real, specific deals.

 Hard to day without knowing you knowledge level on Crypto and NFTs. I would say check out the Bankless Podcast? Its a pretty all encompassing one and very much "Eth forward" but it has great info in the space.

 The frustrating part is you need to be "accredited" to participate.

 Pre-Purchase?

You are doing TOO MUCH analysis IMO. Why would you be worried about exact SKU prices and other things? So what if it is a few days or a few weeks out of date. It WILL be at least a few weeks out of date by the time you close at best. I found myself falling down this rabbit hole as well, but the best thing IMO to do is to just spend more time trying to find better deals or starting with a wider margin. Then if you are 10% off on estimate (which even with perfect lumber prices and everything you CAN know, how many times has a flip been perfect?) you are still winning.

TLDR: Find the one you would use the most and know that you are still in the end predicting things, so it wont be perfect.

 I hate to advocate w2.....but it will make it a lot easier to get financing. 

The other option is to do real estate (I have always thought great wholesalers would make ALOT more as Agents, as they are doing the hard part anyways.) Or get a job in property management or similar real estate fields so that you can learn real estate on someone elses dime. 

Dont think of it as "volunteer servitude" think about getting trained in Real Estate while getting paid. 

I assume you are talking about something like Inspirato (as far as what your porfolio would eventually look like?)

Not sure that there is a "luxury" market tracking tool. Even with something like Airbnb you typically will quickly get over a certain price point and then the stats and user data mean a lot less for the segment of the market that you are targeting. Aka Luxury accommodations and Airbnb's typical traveler are not often the same thing. I am not saying it doesnt exist or that there are not expensive properties on the platforms, just that I don't think there is any good data aggregators. You may be able to get some insights from hotel and resort stats in the right segments? 

But overall, I'm not sure how much all that data crunching will help. With a very seasonal property in The Hamptons or Upstate (keep in mind I dont know those markets) your property (esp as luxury) will have its own unique set of challenges. 

We have run a few seasonal short term rentals and they are great. While certainly neither was luxury, they were on cape cod, we found that you really had to maximize the holiday weekends and be pretty strict about the timings of stays. which when it is first listed can be really tough. In the offseason you can be much more lenient and we also found that we still made good money in the "shoulder seasons" and more than LTR in the winter and offseason (and usually easier guests).

 Not sure about the Post'75....but Worcester and other areas of central Mass and New england have "Three Deckers" everywhere. And they are usually 3-4 units each. Worcester, Somerville, South Boston, Rhode Island (downtown areas) all have plenty of these types.

Just had another thought on this:

Are you self managing?

If not, you could probably find a property manager who is also a broker and they would im sure help with the deal very cheaply to get the management contract.