HyperFast Minute | April 15th, 2022
A minute on what I am learning in real estate, business or life:
Last week I attended the Bitcoin Magazine Conference in Miami and heard from a lot of interesting people: Michael Saylor, Kevin O’Leary and Jack Mallers who announced the launch of a payment network that will integrate Shopify and other major commerce players into a platform that will accept Bitcoin Lightning Payments. I also heard Saifedean Ammous talk about his new book, The Fiat Standard and I of course picked up a copy and so far have found it highly interesting and informative. Whether or not you have jumped into the world of cryptocurrency yet, it seems like the movement continues to grow.
A minute on something I am teaching:
Inflation is here in a big way. The latest report said 8.5%. I think it is actually a lot higher. What’s the solution? You need to invest in assets that go up in value during inflation. There are plenty of things to do. I think the best one is real estate. You can still get low cost fixed loans. You have the ability to add value to force appreciation and right now the supply chains cannot keep up with the current building needs. There are plenty of ways to do this from owning your home, to doing long term or short term rentals, to flipping or investing with people doing this at scale. One of the ways I help other people do this is through bringing on investors for our DC condo projects. If you have not already invested with us there is still an opportunity to get our offer of 15% preferred returns. Just click here to book a call with me.
A Minute on Something I’m Excited About:
Last week we got the sixth unit at the View on Washington under contract with a 7 day all cash close. By the time you read this we might have already signed off on the closing. Interest on the remaining four units remains high and we are closing in on wrapping up the first of many projects for the year.
A picture (or video I took):
Here’s a picture I took at Grayson’s 3rd Birthday. Keri and I are so blessed and cannot believe our third child is now 3!
This is the part where I answer a question someone has texted me or asked on social media (I answer all Instagram Direct Messages) “How would you get started buying your first short term rental property?” For starters you don’t have to buy a home to start making money from short term rentals. You can make money hosting and managing other people’s short term rentals. Another way is to do AirBnB arbitrage (or short term renal arbitrage). I cover this a lot on my YouTube Channel. This basic concept is to secure long term leases on good properties and then furnish them and rent them out as short term rentals. If you do it right you can make 2X what the monthly long term rental is, or more.
Now as far as buying your first one here are a few things to consider. Make sure it is in an area that has a good market for short term rentals. You can estimate rental values on AirDnA.co. Make sure the state, local and HOA (if any) regulations are favorable. Plan on having enough cash for 20% down plus closing costs and enough money for furnishing it and renovations. If you don’t have enough, find some partners to split up the capital and work. And the biggest tip of all is don’t wait to get started. Take action.
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