73. Deal deep-dive: How To Run a Profitable Short-Term Rental Business with Alex Jarbo

ABOUT ALEX JARBO

 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 4.5 years where he was stationed in Washington DC. 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. He holds an MBA with a concentration in Real Estate Development and is currently finishing a Doctorate in Business with a concentration in Leadership. He is the host of the YouTube channel Alex Builds where he teaches the ins and out of short-term development and management. 

 THIS TOPIC IN A NUTSHELL:Alex’s background and how he started in real estate
 Joining a flipping mentorship 
 Pursuing his broker's license
 On choosing his mentor
 Finding his niche in Short-term rentals How he started in ground-up development 
 Broker and lender recommendations Finding the right GC for the project
 Loans and financing of the project Residential vs Commercial loan
 Why he prefers to do construction and development?
 SBA financing vs Traditional loan
 how refinancing work
 Current market rents and occupancy for cabinsOwnership of the deal and partnership Managing STRs and automation of processes 
 How to combat vacancy in STRs if people are not traveling 
 Choosing the right market Marketing strategy How to turn STR into a long-term investmentCurrent projects and long-term plan
 How to connect with Alex  
 KEY QUOTE:  [18:45] “You can start in your own backyard, and when I say backyard in your own little bubble of the market whether it be an hour or two away. You wanna think of a city or an area where people like to vacation in your area, they take extended weekend vacations too.  People don't stop traveling to those little pockets during a recession. People are gonna be looking for that unique experience on top of the market that they're going to.” 

 

 

SUMMARY OF BUSINESS:

Sargon Investments is a short-term rental resort development firm. We work to provide above-average, double-digit returns to our accredited investors. We don’t like investing in populated metro areas. We like to build in areas that are 20-30 minutes away from the city. This allows our guests to have the privacy of a cabin in the woods while at the same time being close enough to the city where it isn’t a long drive. This also leads to some pretty scenic drives to and from the cabins we build.   ABOUT THE WESTSIDE INVESTORS NETWORK   The Westside Investors Network is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.     The Westside Investors Network strives to bring knowledge and education to real estate professional that is seeking to gain more freedom in their life. The host AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management, and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas, please visit www.uptownpm.com. If you are interested in investing i