All Forum Posts by: Matt B.

Hey @Sean Bramble, ok so that is a different thing altogether.

What you are describing I would categorize that as a business. It also might not be commercially zoned but zoned R5 or something else special for the region that allows it.

I would also say that easy exit isn't there for these types of properties. I have chatted with Earl Wasson quite a bit on traditional B&B's and the time it takes the properties he lists (hotels, resorts and motels as well) can take over 3 years to sell.

Plus much of the value is in the business itself vs the property alone.

Don't get me wrong man, I love the idea of buying a cool mini resort place on a lake with 10 cabins, a bait shop, marina, restaurant etc but I know that if I needed to unload it, it could take a while.

Alex Jarbo's course ("Build, Don't Buy") is $1K and was started in the last few months. He's a writer for BP and STR developer in Western NC. Seems like his course focuses more on a standardized evergreen curriculum he created, with a light touch on coaching (monthly group q&a calls + he is available to answer questions over email). His experience started with a single small A-frame build, and he has since been scaling to larger developments with multiple properties using OPM. My guess is his emphasis is more on developing a "proof of concept" that you can then use to attract investment for larger developments with multiple properties (assuming you're not starting with millions to spend).

Kai Andrew's ("Land Hacker") is $4K - includes an evergreen style curriculum focused on developing multiple STRs on a single piece of land, and also seems a bit more hands-on with weekly group coaching and q&a calls. He started on the West Coast (Oregon, I believe), and has both purchased and built STRs. Seems like he's scaling to other states now, and is considering more elaborate builds. His marketing funnel is his Youtube channel (he has a ton of subscribers, and is clearly monetizing his audience this way). My understanding is that there are a few hundred students, so you also get access to that network (though it's unclear what % of those folks are actually taking action, or building elaborate multi-unit properties instead of just an ADU in their backyard). I like the idea of airdropping in to a network of people doing similar things w/ STR development and reimagining what the next generation of hospitality assets can look like, but you could obviously find those folks on your own for free just by browsing Airbnb and contacting them.

I'm interested in building a hospitality business that will grow and evolve over time, so I'm not against paying for this kind of stuff if it will actually be valuable in shortcutting the process and helping avoid pitfalls others have encountered ... might start w/ Jarbo's course given his experience w/ scaling / fundraising ... and the lower pricetag.

I'm interested in education/ coaching programs that focus on ground up construction for short term rentals. Here are the courses I'm aware of:

- Kai Andrew's "Land Hacker" program

- Alex Jarbo's "Build Don't Buy Short Term Rental Development" program

Are there any other courses I should consider? Would also love to connect if any of you are building STRs yourself!

Lots of conflicting opinions in here … question for all of you: what drives your decision to build vs buy, or vice versa? What has to be true for building to make sense?

I think building in commercial zoned areas for the most part will make the STR a little more undesirable.

@Matt B.

Find comps in the area and see what their tax bills are

Hi Felicia,

Ask your agent to obtain the income & expense numbers from the listing agent / seller. Those are routinely provided by a seller who wishes to sell. 

I am looking at established vacation properties at a destination location. Am I able to ask the seller (or find out publicly) what the property brought in? I understand this depends greatly on management, but for the sake of getting a DSCR loan... how do I get that info on a new property?