JD shares his real estate beginnings, including his purchase of a multi-family building with a VA loan. He dives into Short-Term Rentals (STRs) including income, expenses, and how those compare to traditional rentals. JD gets granular on STR pricing, occupancy, turn-over costs, and optimizing profitability. He drops golden nuggets on common mistakes investors make in STR investing and how you can avoid those! This show is packed with jewels of wisdom for anyone interested in STR investing!

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Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guests: JD Modrak, Kasa

Link: Andrew Dorazio (Network Referral)

Link: Our Team | BCG Real Estate Group

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Guest Questions

02:09 Housing Provider Tip: Have an HVAC contractor for emergency repairs during extreme weather!

04:22 Intro to our guest, JD Modrak!

05:22 JD's start with Short-Term Rentals (STRs)!

08:21 STR Expenses and Net Income.

13:23 STR expectation changes over the years.

18:04 Pricing STRs!

23:19 The Perfect Check-In.

25:17 Identifying good STR markets.

30:22 Mid-Term Rentals (MTRs)!

36:14 Financing STRs and MTRs!

43:24 Taxes on STRs.

47:08 What is JD's competitive advantage?

47:52 One piece of advice for new investors.

50:15 What do you do for fun?

50:43 Good book, podcast, or self development activity that you would recommend?

51:00 Local Network Recommendation?

51:48 How can the listeners learn more about you and provide value to you?

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Production House: Flint Stone Media

Tom and Max find out What's in the Bag (TLC 2019)