The Short Term Show BRRRR'ing and Subdividing a 5 Plex Short Term Rental with Joe Prillaman
Joe Prillaman found himself in a suddenly-booming short term rental market soon after he purchased a few properties in the area. He calls it “lucky” but the fact is that he also worked very hard figuring out the market, learning the tricks of the trade, and building relationships with other investors in the area before his first investment. So it may be thanks to a bit of luck that the market turned a corner, but he still did his part to ensure he could benefit from the upturn.
In this episode, show host Avery Carl gets Joe to open up about his journey to becoming a short-term rental property investor and to share openly how he finds and chooses properties to invest in. He has some great insights around investing in multi-plexes and why he has decided to focus on those going forward. Joe believes in the slow and steady approach to short-term rental investment and so far, it seems to have paid off for him.
Discussion Points
- Joe’s background in Property Investment
- Starting out buying a BRRRR
- Having a team around you for guidance when starting
- Why Joe got into short term rental investment
- What is a good deal to Joe
- How Joe is finding multiplexes
- Joe’s Financing process
- Getting into a great market on a low budget
- Number one mistake investors make
- Finding out more about the market you’re interested in
- Advice to 20-year-old Joe
- Joe’s advice to new investors
- Favorite book that impacted Joe’s mindset
Resources
The Short Term Shop University