?Aspiring buy and hold investor starting as short term rental property manager - San Antonio

[Thomas Cocke]

My name is Thomas Cocke, and I'm a 22 year old aspiring real estate investor. This fall, I'll graduate from the University of Texas at San Antonio, fluent in Spanish and conversant in French and Italian. An avid reader since childhood, I've always been naturally curious; whereas my peers shun readings not assigned for class, I've been blessed (or cursed?) with an insatiable thirst for learning, which has been critical in my intellectual development, providing me a unique lens from which to view current economic and geopolitical realities. Granted, this somewhat truncated educational path has taken slightly longer than the streamlined, 3-year degree plans my less "distracted" friends followed. Had I restricted myself to a particular discipline from the outset, however, or had I succumbed to the pressure and not spent a surviving in Mexico without any money or contacts, I wouldn't be where I am today.

Several months ago, as I began my real estate education, I realized that I was in a unique situation, and needed to position myself best to fully capitalize. While it was immediately apparent to me that buy and hold real investing was the most logical and assured path to wealth, and I consider myself a disciple of the Kiyosaki approach (at least in theory), I saw it as an antiquated formula in need of update. The current system is backward; instead of seeking long-term tenants whose rental payments barely cover the mortgage and expenses, you should rent properties short term, charging nightly rates. Not only does this allow you to, as landlord/owner, occupy the unit a portion of the month for rehab or personal use, but it allows you to rent a single-family property as several separate bedrooms. Instead of fretting about vacancies, dealing with evictions and late-payments, or struggling to repair units damaged by children or unruly tenants, I can simply spend a couple hours cleaning before and after guest stays.

Fortunately, it takes six to eight months to build the references needed to charge a profitable rate, since guests are willing to spend up to 100% more for an otherwise similar property given positive reviews. This means that I possess something (20+ 5-star reviews) money can't buy - at least not any time soon.

My goal is to network with local investors who are looking to earn more out of their rentals, or willing to JV a property with me. I'm also looking to find a mentor, someone who is experienced in the San Antonio market and looking to share some wisdom with a young newbie like myself, full of enthusiasm and fervor. At the sake of serendipity, I’ve delved into this community with the hope that members might hear what I have to say and be reminded of the struggles they faced in the beginning, and decide to help another find their way. I fully understand that my youth/inexperience places me at an initial disadvantage, at least in terms of attracting investors, and imbues a level of doubt to any claims remotely sensational. If there are any experienced investors looking for the right young man to mentor, I’m a motivated, capable student, willing to accept both constructive criticism and encouragement. Thanks to everybody in the BP community, it has been an incredible tool, and educated me immeasurably (especially the podcasts!)