We used traditional bank financing, but I also rolled in a 1031 exchange, which made it even more appealing.

Hey Nick, Would be nice to exchange on this topic!

As far as their value, they will always add value but not always a 1 for 1 dollar exchange since comps are normally limited in any market.

Paired with a 1031 exchange, they offer the same tax deferral benefits as other replacement properties.

Learning about 1031 exchanges will also help you defer taxes when reinvesting capital gains (not Flip profit).

Wondering if anyone's sold/run a hostel before - best exchanges, comps, or high-traffic networks?

If you do a traditional cash out, the money is tax free and your tenants are paying it down.If you sell, you can do a 1031 exchange into a new property, but then that doesn't necessarily free up the cash, unless...You take the net proceeds and buy a new property cash.

., net-7 on verified milestones) in exchange for pricing and priority.Test small jobs first; promote trades to your A-list only after on-time, on-budget performance twice.Standardize to reduce wasteCreate repeatable finish schedules (same trim profile, faucet line, paint palette) so crews work faster and leftovers are reusable.Pre-kit jobs: one delivery per room (box includes all hardware, fixtures, and consumables).Contracting disciplineUse fixed-scope, milestone-based contracts with:Progress draws tied to inspections/photosNo deposit or minimal mobilizationLien waivers at each drawDaily liquidated damages for missed deadlines (after grace period)Written change order policy with price + time impact before work proceeds2) Time: Move Faster to Reduce Carry and RiskFront-load planningWalk the property with all key trades before closing; finalize scope, bids, and schedule ahead of day 1.Pull permits early; choose scopes that avoid structural or major MEP reroutes when timelines matter.Sequencing & overlapSchedule parallel workstreams (e.g., exterior/landscaping while interior demo proceeds).Use a Gantt chart (even a simple spreadsheet) to track trade start/finish, dependencies, and buffers.Daily control15-minute stand-up with GC or project lead each morning (photos + punch list).Two inspections/week: one quality, one progress vs. schedule.Keep critical spares on hand (breakers, valves, GFCIs, common trim, extra boxes of flooring).Tech + templatesSimple tools (Google Drive + shared photo folders, or apps like Buildertrend/Jobber) for scope sheets, punch lists, and photo proof.Use QR codes in rooms linking to the finish schedule for fewer “what goes here?”

Would love to connect with others who are active here and exchange insights on what’s working.— Seth

Let’s stay connected—always down to collaborate or exchange market insights!