All Forum Posts by: Josh Luttrell

@Michael Stoyanov, @Shawn McCormick mentioned the key part to this market. Theming the property. This is a MUST. You have to stand out from the crowd. Clearly the demand is there. So if your property stands out and stays at the top of the market, the cash flow will be hard to beat. When it comes to theming I don't mean going to Rooms To Go and buying their star wars and princess beds. You have to go all in. I own a custom theming company that has themed most of the homes in the area and a property management company that manages them. The difference in returns I see is from custom theming vs amateur theming is night and day.

The proven way to win in this market is the following. Purchase a 6+ 2 story home in a resort community. Go all in on the theming (100,000+ budget, we can finance this for you if needed), and use smart pricing tools. I have done this time and time again for my clients for years. The continued success has lead me to creating my own real estate fund for this. It works. 

Shawn also mentioned the most important market mover, Epic Universe. It truly is hard to estimate how big of an effect this will have on the market. We are sitting on a gold mine here and no one is talking about it.  If you don't know much about it, I would google it and watch the video they just released. 

Interested to hear from investors in this market on how their 2023 went and what they are seeing on the books for 2024. Also, more importantly, who is getting ready for the market shifts from EPIC UNIVERSE in 2025. This will single handedly increase tourism to numbers never seen before, for years!

Small single family homes/townhouses/condos around Disney will rarely be profitable. You have to purchase a larger single family homes, 6+ bedrooms. More importantly you HAVE to do extensive theming throughout the house. If you don't differentiate your property you will fall victim to the mass market, where you will be competing to be the cheapest on the block to get any bookings. Not where you want to be. 

If you purchase a townhouse/condo that only sleep 5 or so people you are competing with hotels.

2023 was not a good year for the market. However the highly professionally themed properties were still profitable. I have themed a lot of the properties in the area and run a management company for high end themed properties. They are profitable, even in a down market. Things are looking up in 2024 as well. Not to mention EPIC UNIVERSE in 2025 which will blow the roof off this market. 

I have only had limited interaction with AirDNA, but overall it was not good. I manage 30ish properties and all of them were reported incorrectly on AirDNA, by a lot. 

 This couldn't be more accurate. I've been creating some of the top rentals in the market for the past 3 years, done well over 100 projects. It will be hard to find another area and or investment property (commercial or residential) that out performs professionally themed rentals near Disney. You also have Epic Universe opening in 2025, which means we are sitting on a gold mine. I've started my own real estate fund because of the opportunity coming. 

The greatest issue in the Real Estate Industry isn't the pay or fee structure, it is the barrier to entry. As and agent dealing primarily with investors, the lack of knowledge 90% of realtors have is truly astonishing. The scenario Patricia explained, happens all the time. Because there are so many "bad" realtors out there, people who deal with them have negative experiences and therefore do not see the value we provide. What really needs to happen is making the barrier to becoming a Realtor much harder. 

@Michael Baum @Luke Carl He is referencing the private equity industry. Commonly, funds are used to either pay straight cash or yes use the money for a downpayment. It is a great way to greatly increase your growth once you already have a track record. 

@Andrew Novitsky I am apart of their Discord group which is a great place to meet people and network. It is $20, and a free trail period to make sure you get value of it. I had plans to just to the 1 week free trial and cancel, but I still pay monthly for it because there is value to be had. 

I am in the process of starting my own fund, more than happy to connect and answer any of your questions.

No not looking to get around the law. I don't own or operate in the North East. Just interested to see what investors are doing that basically got shut down overnight. It will be interesting to see if this ban on STR's will affect the housing market there. Will everyone eventually decide to sell and invest elsewhere?

Does anyone have any info on the crackdown in New York City and what owners are doing in response to the new regulations? Please refrain from the general information about the new regulations that is in all the articles. Looking to see if there is anything interesting that isn't being reported on.