Bill Powers, who first joined us back in Episode 6, returns with his daughter Shannon Powers to share how their real estate business has evolved since 2021!
Bill and Shannon discusshow they’ve scaled their portfolio over the last several years, jumping into ground-up development in Florida, and lessons learned from investing in a declining market! They dive deep into short-term and mid-term rentals including identifying markets, underwriting deals, and best management practices. The duo explains how they’ve been able to have their STR/MTR business work in synergy with their traditional rentals. Bill and Shannon close with an outlook on their business and share Lake County areas with strong investment opportunities!
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02:07 Housing Provided Tip - Consider upgrading turf to cut lawn maintenance costs!
04:22 Intro to our guests, Bill and Shannon Powers!
07:26 Transitioning from SFH rentals to larger multifamily and ground-up development in Florida.
16:48 How to underwrite mid-term and short-term rental opportunities?
19:49 Getting granular on MTR/STR expenses!
30:41 Breaking down STR arbitrage and best practices.
39:19 What’s next for Bill’s business?
42:05 Villages and towns with strong upside!
45:02 What’s your competitive advantage?
46:38 One piece of advice for new investors.
47:43 What do you do for fun?
48:19 Good book, podcast, or self development activity that you would recommend?
48:44 Local Network Recommendation.
49:31 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: Bill and Shannon Powers
Guest Company: RTO Property
Guest Link: https://rtoproperty.com/
Other Links for show notes:
The Diary of A CEO (Podcast Recommendation)
Jim Leech (Insurance Agent Referral)
