Mistakes new investors make when underwriting a STR What is a reasonable variance between STR Insight data and actual revenue? If Kenneth owned a property management company, what would he do? What was Kenneth doing before STR Insights He tells us what markets he would invest in right now (and one that he is) along with his opinions on what has to go into the decision of investing in a new market. Knowing all that he does about data, Kenneth shares a lot of insight on markets across the country. As a result of this, we now have STR Insights, a data platform that is the only place you can compare market data side by side to figure out the next market to invest in.
He has some good friends though, and they pushed him to turn his spreadsheets into a whole platform. With a smaller budget, it was hard to find a good market that didn’t break the bank and this inspired Kenneth to create a data comparison formula that originally wasn’t going to be shared with anyone other than some of Kenneth’s close connections in the STR world. Tune in to hear Fouad's inspiring story and his insights on building a successful business.Ġ0:04:20 Importance of mentorship and educationĠ0:14:03 Differentiate and compete on qualityĠ0:14:20 Maximizing revenue through property utilizationĠ0:22:11 Build relationships for raising capitalĠ0:27:47 Short-term rental market is growingĠ0:28:04 Embrace nomadic lifestyle, know your marketĠ0:32:28 Abundance mindset fosters connection.Ĭoming from the STR Investor side, Kenneth Bedwell felt the struggle of finding new markets to invest in. He reveals his latest venture in the Florida market, just miles away from Disney World. Fouad also discusses his transition from a banking career to owning vacation rental properties on the West Coast, including Scottsdale, Phoenix, and Huntington Beach. He emphasizes the importance of diving into the data and understanding the supply and demand in the industry. Fouad shares his journey of opening gourmet restaurants and differentiating himself in a saturated market. On this episode of the Blue Gems podcast, we spoke with Fouad Bazzi, the founder and owner of Crescent Retreats. Scaling through raising private capital. Raising private capital and partnerships. The importance of balancing personal life with business, and how reframing societal norms can lead to a fulfilling partnership both in business and marriage. The value of partnerships, especially with complementary skill sets, in achieving rapid growth and success. The significance of building relationships and trust when raising private capital for scaling in real estate. He discusses the importance of taking action, even if imperfect, and how he scaled from zero to 44 units in just under two years using none of his own money.
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From his early fascination with real estate in middle school to his professional poker career, JB shares how he transitioned into the real estate world during the COVID-19 pandemic. In this episode of the Blue Gems podcast, we dive deep into the inspiring journey of JB Bullock, the co-founder of Blue Gems. *None of this is meant to be specific investment advice, it's for entertainment purposes only. Concierge service for short-term rentals. Ugly properties turned market opportunities. Whether it's managing client funds or maintaining quality standards, being open and honest with clients can set you apart in the industry. Dive deep into understanding the dynamics of each market and evaluate each deal from an investment standpoint.ģ) Transparency in Property Management: In the world of property management, transparency is crucial. Understand what you want from your rental and how it aligns with your life goals.Ģ) Research is Key: Once you have a clear vision, research potential markets that fit your criteria. Additionally, she touches upon the challenges and rewards of managing client funds and the importance of transparency in the property management space.ġ) Establish Clear Buying Criteria: Before jumping into the STR market, it's essential to outline your goals and vision for your business. Stacy also highlights the significance of researching and choosing the right market, and the value of establishing strong relationships in the industry. She emphasizes the importance of understanding one's goals and vision before diving into the STR business. Stacy shares her journey from starting in the real estate space to now owning 10 properties and managing a total of 26. John, a seasoned STR investor and property manager. In this episode of the Blue Gems podcast, we dive deep into the world of short-term rentals (STR) with Stacy St.
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