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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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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Connect with Mark and Tom: StraightUpChicagoInvestor.com
Email the Show: StraightUpChicagoInvestor@gmail.com
Guest Name: JD Modrak
Guest Company: Kasa
Guest Link: https://www.linkedin.com/in/jdmodrak/
Other Links for show notes:
Andrew Dorazio (Network Referral)
Our Team | BCG Real Estate Group
Show Sponsors:
