In this #Highlights episode, we look back at our conversations with Blake Dailey and Alex Jarbo. Blake Dailey is a multifamily real estate investor as well as an Air Force Contracting Officer. He used the BRRRR strategy to buy, rehab, rent, and refinance residential properties, and then do short-term rentals using Airbnb, which is where the ‘nb in BRRRR’nb comes from!
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Short-term rentals have gained momentum especially since people are starting to travel again. Alex Jarbo shares his unique development strategy for syndicating short-term rentals and teaches the ins and outs of short-term rental development and management.
Key Points From This Episode:
- Blake describes going through the real estate investing process with his wife.
- How many short-term rental units did it take to replace his W2 income?
- How to branch into commercial multifamily from short-term rentals.
- How to finance short-term rentals through creative financing and relationships with local banks.
- How to transition from self-managing the property to bringing on a property manager.
- Alex shares his first real estate ground-up development.
- Why does Alex choose short-term rentals and not long-term rentals like multifamily?
- How did Alex scale his short-term rental business?
- Short-term rentals are properties that offer experience in themselves.
- How did a mentor help Alex to drive his business forward?
- Alex details the short-term rental projects he is syndicating.
“Commercial multifamily is the way to do less transactions, have bigger payouts, and have the time reward be more, economies of scale, really. You hear that all the time in commercial multifamily. It’s scalable and there’s efficiencies built in.” –Blake Dailey
“When I look at my goals and where I wanted to be at that time, the way to fast track that is through short-term rentals. I think that’s why a lot of people gravitated towards that in the last three years because they realized how many short-term rentals can actually make.” –Alex Jarbo
“I say Instagram-able properties is what you want. People are excited to stay in your house, it is not just a place where they are sleeping. The property is an experience in itself, outside of the city that they’re visiting.” –Alex Jarbo
Links Mentioned in Today’s Episode:
About Blake Dailey
Blake Dailey is a multifamily investor interested in long-term wealth creation and helping passive investors achieve returns that can fuel their lifestyles. He focuses on syndicating larger value add or multifamily acquisitions, and he has experience with wholesaling, short-term rentals, and BRRRR. He is also an active-duty Air Force Contracting Officer.
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 ½ years where he was stationed in Washington DC apart 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 he has a goal of developing 650 cabins in the next 3 years. Alex 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.
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