In this episode, Alex Jarbo shares his journey of building his short-term rental portfolio and how he's able to develop amazing properties and make them profitable at the same time. Join us and listen in!
Alex Jarbo is a short-term rental developer and manager. He was born and raised in Detroit Michigan. He served in the Marine Corps for 4 ½ years where he was stationed in Washington DC as part of the Marine Corps Honor Guard. He left the Marine Corps at 22 years old to pursue his career as a real estate professional. He is the founder and CEO of Sargon Investments and aims to develop 650 cabins in the next 3 years. He is the host of the YouTube Channel Alex Builds where he teaches the ins and out of short-term development and management.
[00:01 - 00:23]• We welcome Alex Jarbo to the show
[00:24 - 02:03]• Alex Jarbo's background and how he started investing in real estate.
[04:21 - 08:56]• What did he read, or how did he know exactly what he wanted to build and design on his short-term rentals? How was he able to scale?
[08:58 - 10:50]• "650 Short term rentals in three years." The Market for Metro areas and Condominium conversions into boutique hotels. Importance of influencer marketing.
[10:52 - 14:38]
• Building these short-term rentals, is he finding investors like one-off investors who wanna buy them, or is he building these rentals for them?
• Advantages of Mountain markets and why they tend to be less seasonal.
• Getting a construction loan doing it as a "One time close Loan"
• What is a "Two Time Close"?
[14:53 - 18:07]• Zoning processes, did he seek out land that's already zone residential, or do he buy a raw land and zone it?
[18:08 - 21:48]
• With the supply and demand process and just the supply chain in general, and having multiple exit strategies as his way around, how did that challenge him initially?
• AirBnB moving into "Unique Stays", and Developing instagrammable or unique properties.
[22:14 - 26:23 ]
• With what is happening right now, how are interest rates affecting his business right now and what are his current strategies to pivot?
• How does he expect the short-term rentals to be affected by the future economic downturn?
• Alex's favorite thing about short-term rentals?
[27:12 - 30:35]
• Asking Alex Jarbo about the Adventurous Four
Tweetable Quotes:
"Don't discount real estate investing just because the interest rates went up."
- Alex Jarbo
Connect with Alex Jarbo
https://www.alexjarbo.com/
https://www.youtube.com/c/AlexBuilds1
https://www.linkedin.com/in/alex-jarbo-28a940139/
Explore more. Adventure awaits.
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