I spoke with 153 hard money lenders over 2 months trying to find acquisition debt on my latest deal. I naively thought most were actually "private" lenders, and therefore capable of getting creative and competitive. Wrong. Here's everything I wish I would've known beforehand.

@geoff_l One couldn’t live without the other

I’m once again telling you that there are supply constrained vacation rental markets where you can build a SFH for $250/SF and immediately cash-out for >$625/SF or sell for $800/SF. Supply demand is absolutely stupid right now.

@geoff_l Yep but presented as a basic average of the entire market. Adding filters would help, but I'm sure all the dollar signs wouldn't help their case with local regs

@wolfeypackey Lol maybe but the alternatives seem to be worse. Everyone's scraping the same data yet somehow they're always miles apart

Cabin in the woods meets DFW ranch.

@realEstateTrent No gas. Corporates looking at the next block over. Vape shop just reached out 👀

@Jamie_Lane Richmond is primary residence. They even cross reference with DMV records. Same with KC. Crazy. A lot of these markets also have zoning restrictions or other regulations that make them close to impossible to invest in. Lots of mixed use. Tough to compete with MF developers.

@YonatanWaxman We don’t. They find us 🥲

Didn't pencil at $245k either btw

According to a 2023 report by Oxford Economics, Airbnb guests spend $229 on local goods & services for every $100 spent on accommodations. Contributed $55 billion to the economy & supported $600k jobs. It’s "ban all STRs!" until your wife's tacky boutique goes out of business 👀

@4businessfocus Absolutely. Bigger is almost never better when it comes to a PM. More so on the residential side vs. commercial but still. The guys who are smaller and hungrier are usually better. 78% occupancy on a lake house in a summer market is gross mismanagement.

@TheREDevGUY Not RH but definitely not IKEA. 6BR house at roughly $7k per bedroom plus supplies, amenities, etc. Adds up quickly lol

@ZoneSage_ @robesposito Haha it wasn't even that. I have no problem with Taylor, but his content shifted from decent STR info to shilling for TechV and selling services. It's just a bit disingenuous to advertise awesome above the line numbers to inexperienced investors when your bottom line is hell

@abolishzoning Not even remotely similar service? Lmaoooo

@wolfeypackey I'm indifferent tbh. I think the stay itself determines whether or not they'll rebook. Doesn't hurt though!