All Forum Posts by: Reese Newell

I forgot to touch on the Grant Cardone stuff! He is a brilliant businessman, but investing in him can be similar to ETFs.  It really depends on how passive you want to be.  With slightly more time, you’ll have higher returns by building your own thing.

@Tyler Piciullo STR will not be passive at all and with the questions asked, should definitely be avoided for now while you acquire some more knowledge. As far as learning, If you're unsure of where to look and on numbers then I would read blogs and here for a few months while building out a document with your learning. From there, I would post more informed questions as you analyze 2-5 properties a day to really have the numbers down in your head. Focus on IRR (internal rate of return), than the standard recommended COC returns etc as they are more basic and nowhere near as productive. If you do that and want to get deeper in the future, you can dive in to Kelly criterion for optimal growth rates.

To give you a quick background, I was a top 5 poker player in the World for some 10 years at my form of poker and transitioned in the summer of 2020. I spent 6 months building out detailed word and spreadsheet documents. I then applied my engineering background to do a statistical breakdown of counties and then deeper in to the cities all across Florida for both STR and LTR. In year 1 I had bought and loser 3 STR and plan to buy another 5-10 this year. I also am a 25% silent partner is an assisted living facility in NJ that I plan to scale as well. The moral is to learn to a point of failure, then ask tough questions when it is right outside the bounds of your current learning curve, and then implement and repeat. This will take you to the top of any field in life!

As far as passivity, LTR can provide this, IFF you know the numbers well, and have lots of processes in place ahead of time instead of being reactive.  I hope this helps and wasn’t too much!  Best of luck! 

Ps, I’m always down for a beer in Fort Lauderdale!

@Kyle Funnell, I'm following!  I am shocked there are no replies to this.  I would love to get knowledge on some great contractors in the Fort Lauderdale area as I begin to scale!

@Matthew Thurman this sounds great, I will definitely be coming to these!

@Nicholas Utesch fantastic work! We own 3 vacation rentals in Fort Lauderdale, 2 of which are in Wilton Manors.  100% on South Florida contractors for sure! I would love to link up and chat shop.

Hey Brandon, my fiancee and myself are both agents. I own some STR in the Fort Lauderdale area and would be able to help. I sent you a DM.

Welcome @Donya Mattis, why Tamarac? It is pretty far in land.  Which demographic for travel are you trying to catch there?  Have you run numbers on purchase price and comps? It is hard to give advice.  What is your budget? Why do you want to do the short term space and do you have any experience with it?  Cheers!

DM sent 

Welcome @Rolain Paul, I don’t have any current tasks to delegate, but may as I acquire a few More properties in the coming months, I’ll keep you in the loop.  Any idea what type of real estate or knowledge you would like to obtain? I focus on the short term rental space.  I’m always happy to meet up for a coffee or a beer any time just to hang out and chat!