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Jaren Sustar: The Ones Who Sit on the Sidelines Never Win | Episode 10 | STR Data Lab™ by AirDNA

This week we sat down with Jaren Sustar (JD), the man behind the hat, the finance cowboy, and someone who has a very interesting success story in the short-term rental world. He has an amazing work ethic and he believes that this what one of the keys to being a successful serial entrepreneur. He has been in the business for 6 years and gives his take on the the current state of the short-term rental market. JD also explains that you should not always bank on the interest rates falling soon, you should be cautious when making investments and always make data back decisions.

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Read “Property Managers: 5 Data-Driven Tips on How to Prepare for 2023”:

https://www.airdna.co/blog/5-tips-on-how-property-managers-should-prepare-for-2023

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Read “Hotels vs. Airbnbs: 3 Things Rental Hosts Need to Know About Lodging Competition in 2023”:

https://www.airdna.co/blog/3-things-airbnb-hosts-need-to-know-about-hotels

Listen On:

Transcript

00;00;13;14 - 00;00;18;01

Speaker 1

Hello, JD. We were just talking about how you're in the 19th inning,

00;00;20;06 - 00;00;36;10

Speaker 1

Metaphorically. Metaphorically of your day. So thank you. Thank you for joining me. I'm in a similar boat. Fun facts. You once played 19 actual literal innings in baseball, right? You used to be a baseball star baseball player. I don't know if we.

00;00;36;10 - 00;00;50;05

Speaker 2

Can say is as far as star, but I did play baseball. I'll take it, though. We won't. Nobody has to know. But yes. Played all the way through college. Absolutely loved it. 19 innings was the longest we ever played and was actually my fault. I hit the run to tie it up in the bottom of the ninth, which sent us into the extra.

00;00;50;05 - 00;01;01;00

Speaker 2

So the team absolutely hated me. But anyways, that's how we both feel today. We've had a great long day, but we're going to we're going to give an action packed episode here for everybody. It's gonna be a lot of fun.

00;01;01;00 - 00;01;17;08

Speaker 1

Oh, my gosh. I can tell already. We're gonna have a ton of fun. Yeah, and I would. I would say, like, if you make it to college baseball, you're a superstar in my or at least a star, in my opinion. And fortunately for both of us, baseball is like maybe the only sport I know a tiny bit about because my husband likes it.

00;01;18;09 - 00;01;46;26

Speaker 1

So thank goodness. Thank goodness, so today you got started as a baseball player. After college, you went right into the service industry, which I think a lot of folks do. They kind of take their gap year after college, right. Started transitioning into sales, made your first investment into real estate when your net worth was actually -$10,000 and you started with a flip which broke even, which we'll talk a little bit more about here in a second.

00;01;47;18 - 00;02;08;13

Speaker 1

But of course, since then, you know, obviously that was six years ago. So I'm sure lots has happened in between now and then. So maybe not an overnight success, but certainly now, right. You're managing a portfolio of over 20 rental properties. You have, I think, invested in at least 13 homes of your own, a mobile home park, which sounds really cool.

00;02;08;13 - 00;02;32;09

Speaker 1

And and you have multiple six figure businesses including Finance Cowboy, Peacock industry, ah, Insurance Agency and Shoppable LLC. I think you also might have a W-2. So first of all, I'm just already and you're under 40. Let's just I mean, well done, Sir well done. Well done. You’re either, you might be a glutton for punishment, but I love it.

00;02;32;22 - 00;02;46;22

Speaker 2

Oh, yeah, I know it sounds. Yeah, it sounds. All of it sounds great. But being in the trenches to get there, there were definitely some definitely some tough times, that's for sure. But it has been enjoy the journey along the way and, you know, have a blast every single day being involved in all of those.

00;02;47;15 - 00;03;07;26

Speaker 1

Oh, my gosh, I love it. Well, and I love it. Sounds like you're probably an amazing multitasker, but I would love just to you know what I do love about your story really, is that it was off to kind of a rocky start. Right. Like, it wasn't necessarily I did this once and it was an instant success and I just was hooked.

00;03;07;26 - 00;03;21;25

Speaker 1

And I'll do it again and again. So after that first flip broke even who knows how much money you had in the bank? What kept you going, my friend? What kept you wanting to be involved in this crazy real estate short term rental business?

00;03;22;16 - 00;03;43;24

Speaker 2

Yeah, that one. That one was tough. That flip was tough. I was young, I was 20. I was probably 25 years old when I was flipping that home and I was using a private lenders money. And it was just a debacle all the way through, like from transferring funds to me to the contractors each week to managing them to we thought the project was done and then we had to end up pulling a permit that we didn't pull.

00;03;43;24 - 00;04;08;23

Speaker 2

And so we had to go back and do a lot of stuff. And then we get to where we're supposed to close. And the guy who was supposed to buy it couldn't get funding. And so then he was like living in it, kind of renting it, kind of not. Which now knowing real estate, that's a terrible idea. That I even allow that to happen because we kind of had a squatter, but thank God it only happened for a month or so and he ended up buying the property eventually and it took so long.

00;04;09;00 - 00;04;30;16

Speaker 2

I carried from 2015 all the way to 2016, we didn't hardly make any money whatsoever. I was embarrassed. It was humbling and it taught me a lot, you know, and it really knocked me down. And it let me know that this isn't you know, this isn't something that you want to jump into without kind of knowing what you're doing, you know?

00;04;31;03 - 00;04;48;08

Speaker 2

And so, yeah, you can learn through the school of hard knocks, but you're going to lose money a break even. I got lucky that I didn't lose a lot of money. There. I got very lucky because it could have been worse. So it taught me, you know, hey, if I'm going to if I'm going to do this, then I really need to create a foundation and then I need to choose, like what?

00;04;48;12 - 00;05;08;11

Speaker 2

What do I want to do? You know? And I and I had experienced that flip, and I knew that you can make money in flipping even after that. But for me, it wasn't I didn't necessarily need the additional income, so to speak, that flipping produces. And I wanted to get more into building that long term wealth, which comes through buying hold real estate.

00;05;08;11 - 00;05;29;05

Speaker 2

And so I got done with that in 2016 and I did not buy again until early 2018. I just dove in and we had we had some personal stuff going on. We had a child and we moved. So that that had part to do with it too, but also dug in and really got in and had a mentor in my corner, learned everything I could about real estate, specifically long term rentals at the time.

00;05;29;16 - 00;05;53;26

Speaker 2

And then when it got to be the right time and a mentor kind of pushed me along and pushed me across the line. I bought that first rental in 2018 and was able to scale over 20 properties by early of 2021. And you know, we have been buying ever since and I absolutely love everything about real estate. I have a great knowledge base now, I’ve learned a lot and I'm able to help others.

00;05;54;27 - 00;06;16;26

Speaker 1

I love that well. So I will say anecdotally, one of the things that I'm 40, which everyone on the podcast knows because I advertise it, one of the things that's been helping me sleep at night, JD, is that like I'm like, well, all these 20 somethings didn't have kids and a mortgage and a family, so you've just broken my mythology that I was telling myself, Oh goodness.

00;06;17;07 - 00;06;18;23

Speaker 2

I'm sorry. Please forgive me.

00;06;19;10 - 00;06;30;12

Speaker 1

No, I think it's good for me because again, like, you build these mental barriers in your head like, Oh, I can't do this because of X, Y and Z, you know, the kids. I like to blame my kids a lot. I don't know if you do that too, for sure.

00;06;30;20 - 00;06;32;27

Speaker 2

And my wife, you know, probably shouldn’t, but.

00;06;34;01 - 00;06;36;21

Speaker 1

They make they make great scapegoats. Let's be real.

00;06;37;11 - 00;06;38;29

Speaker 2

100%.

00;06;41;02 - 00;07;05;15

Speaker 1

All right. So so what's obviously striking me also now is that you are clearly what I would call a serial entrepreneur because you have three businesses. Sounds like you have a day job as well, which again is dispelling a lot of mythology I had in my head. Right. They don't have day jobs. These people. When did you catch this bug?

00;07;05;15 - 00;07;21;16

Speaker 1

I know you talk a lot about how your father was a pastor. Not sure if he was a serial entrepreneur, too, but sort of what was the inspiration? Did you always were you always thinking this way? Were you there at the lemonade stand like, you know, making sure you got your profit margin or how did this work?

00;07;21;16 - 00;07;43;24

Speaker 2

I don't really know, to be honest. I always was very driven. I'm still driven to this day, but all of it went towards baseball when I was younger, all the way until I graduated college. So there was no you know, I didn't care about earning money or working a job, but I worked as hard or harder at those younger ages, 15, 16, all the way through 22 at my skill of sports as somebody who's working.

00;07;43;24 - 00;08;03;10

Speaker 2

So I've always had that work ethic within me as far as like the, the pioneer entrepreneur mindset. You know, you mentioned my dad he’s a pastor and always kind of wonder like, where do I get that from? And I look back at his life and he was like that, especially when he was younger. He's mellow out when he's older and done a better job at managing and building organizations.

00;08;03;10 - 00;08;22;11

Speaker 2

But he you know, he started as a youth pastor and then he built this massive youth rally that they used to have in Myrtle Beach every year with mass with thousands of youth groups come and started. He started from scratch by himself. And it grew. And then he planted his own church. You know, it runs got over a thousand something people now.

00;08;22;11 - 00;08;50;25

Speaker 2

So I look back and I'm like, oh, you know, he is a pioneer just in a in a totally different, you know, scenario or arena than I am. And so I just knew when I finally started working, I think it started with a couple of things. I realized work was very easy compared to sports. So sports, the amount of work and the time and all that I put into sports was a lot harder and I put a lot more time than what it took to be in the top 1% at working and I was getting paid to work.

00;08;50;25 - 00;09;10;02

Speaker 2

This is gravy. Like why? Like we're going to kill this game, you know, and, and so like I started working at Cintas and they it's a four day workweek, which it is. But what they all tell you is it's like 14 days. It's miserable. But I had a day off and so I started. Since I got out of college, I've always had a side gig.

00;09;10;02 - 00;09;28;04

Speaker 2

Right when I graduated I was working concession stand before I got on it. Cintas and Cintas in my off day I was delivering fruit. Then I got on it, pharmaceutical sales and I was I had a side gig, pressure washing, started a pressure washing business, and I got into medical device sales, which I still do today as a W-2 job and started investing in real estate.

00;09;28;04 - 00;09;52;08

Speaker 2

I had the Peacock Insurance, which is still an infant. You know, we're putting some time and effort into that. The Shoppable, which is the Amazon store and then obviously Finance Cowboy, which started as a almost out of spite, out of a joke. I don’t want to call it a joke. It's a funny story behind it. And now it is a very viable business where we mentor and coach, you know, tons of people on how to do the same thing in real estate I did.

00;09;52;08 - 00;09;59;04

Speaker 2

So yeah, that's kind of my story. It's, you know, it's a lot of a lot of hard work along the way. But I really, really, really enjoyed it as well.

00;10;00;04 - 00;10;23;20

Speaker 1

I love that well and I love that sort of theme of right. Like it's not just about like potentially wanting to get financial gain, it's also just sort of having this like work ethic sort of ingrained in you, right? Which is just that like you probably are the type that enjoys hard work, that enjoys doing the work, and then also like, just like the idea of organizing people and concepts together and sort of building something.

00;10;23;20 - 00;10;34;24

Speaker 1

So love that you got that from your dad. All right. Well, now you have to tell me, what was that? So so talk to me about. Yes. Where did Finance Cowboy come from?

00;10;34;24 - 00;10;54;10

Speaker 2

So I got a buddy of mine. Who I was trying to get him to invest in real estate for years and he just kept blowing me off this was after I started with my portfolio and it was starting to build us a lot of wealth. I'm like, whoa you know, like, hey, I got a lot of money now, you know, I got a lot of equity here.

00;10;54;10 - 00;11;16;21

Speaker 2

And he knew what I was doing, but he just. Yeah, I don't know if you know what you're doing. We'll see how it pays off. I just know. So I just stopped trying to push it on him. Well, then last June of 2021, he started sending me Instagram posts from this kid who's 26 years old. But he had a following, a decent following, and he was encouraging people to invest in index funds.

00;11;16;21 - 00;11;38;09

Speaker 2

And so now because he had clout on social media and was telling people to invest in index funds, he got this friend of mine to start investing in index funds, which is, hey, I was like, you know what? Finally he's investing outside of his 401K Great. Well, I took it to the, pushed it over the edge as he started sending me this guy's posts and encouraging me to invest in it.

00;11;39;10 - 00;12;08;09

Speaker 2

Bro, I have been like. Like we're growing a lot of wealth through real estate. I'm not buying your index fund right now. Like, get out of here with that. And so it just struck me. I'm like, if this 26 year old on Instagram with a small following can convince a highly educated, highly, highly educated executive friend of mine to invest in something, I got to try this and so I hopped on and actually started under a different name.

00;12;08;16 - 00;12;25;29

Speaker 2

And then I was putting my boots on one day and I was like, Finance cowboy, let's roll with that. And I started talking about more about personal finance stuff in general, but then I would tell my real estate stories and they would kind of blow up and people wanted to know more. And so I really pushed into the real estate niche teaching people on that and I had zero followers in July of 2021.

00;12;25;29 - 00;12;43;24

Speaker 2

When I started this year, we had around 5000 and we kind of blew up and we're at 75,000 right now and growing all the time, and it has been an absolute blast. We just launched our mentorship this Monday and people have been flooding in we'll be able to help so many people. So it's been an absolute fun journey.

00;12;44;01 - 00;12;44;27

Speaker 2

Fun, fun journey.

00;12;45;17 - 00;12;59;11

Speaker 1

I love that. I love that concept of the giving back. And I'm not surprised at all that you've been able to grow success out of that. But I think that was a good you know, that was a good sort of business acumen. You're like, wait a minute, this is how I get my message out.

00;13;00;06 - 00;13;03;28

Speaker 2

Exactly, exactly. It's a good place to put my energy. You know?

00;13;04;21 - 00;13;25;13

Speaker 1

Totally. All right. So tell me. So so help me out here, JD. Give me some good tips on how I can do something like keep my 9 to 5 and start another business or maybe two businesses. Or do you just not sleep? What do you have some strategies that folks might find useful?

00;13;26;26 - 00;13;53;26

Speaker 2

Yeah, I think it you know, it depends. It's so subjective depending on everybody's scenario. What you had to do is you had to decide, you know, why are you doing this? Like, what is the reasoning behind it? You know, is it just it's a passion or is it because, you know, you need to sacrifice a little bit to get your family ahead, to get ahead in life because, you know, it's going to pay off in the long run if you put, you know, a little bit of extra work in now.

00;13;53;26 - 00;14;10;12

Speaker 2

And so I think starting with that, why helps us? And then from there, you know, you just kind of start yeah, I always say, you know, you want to set up these systems and processes. But from my experience and there's people who probably way better than I am, it's hard to do that on the front end because you're not really sure how everything is going to flow.

00;14;10;29 - 00;14;30;02

Speaker 2

And so you just have to dove in. Where where can you find that spare time? Where can you find that free time but also still live your life? And there may be, you know, times where you do have to sacrifice a little bit and neglect just a little bit of family time, neglect some of the, you know, things that you love to go do on the weekend.

00;14;30;06 - 00;14;48;20

Speaker 2

We don’t– I always tell people, don't make a habit of that. Make that short term to get where you want to go and then let's get it and the schedule and systems and processes in place. So if you got to wake up early, you know, get up at 430 in the morning, work on your side, gig until seven, get the job, get to get to work, spend some time on Saturday morning before you spend the rest of day with your family.

00;14;48;25 - 00;15;07;16

Speaker 2

Get the kids in bed at nine. Don't neglect family time and stay up till midnight. Operate on a little less sleep. You know, it's you just have to find that time, be intentional, know your why and then as you start to build through it, where, you know, how can I systematize this? Can I offload some things and, you know, just kind of progress through it as it grows?

00;15;08;18 - 00;15;23;22

Speaker 1

I love that. That's very good advice. And I think very realistic advice. Right. Like I'm a working mom I can totally attest to. I think one of the best piece of advice I got when I was having my first kid is like, look, you're not going to be able to do everything well all the time. There's be times where you don't feel like a great mom.

00;15;23;22 - 00;15;41;20

Speaker 1

There’s going to be times where you don't feel like a great employee. Yeah, like so, you know, I think there's a balancing act there, but also not to sacrifice your biggest resource that you have, the most finite resource you have, which is time, right? We only have so much time on the earth. So we do have to use it sort of wisely.

00;15;42;13 - 00;16;03;29

Speaker 1

And I love that sort of like starting there versus a lot of people do sort of exude like, oh, you just get the right process in place. So you have a system for these things and it's like that maybe comes over time as you understand what you need to do yourself versus offload to other people like property managers or virtual assistants and all that stuff in the process.

00;16;04;19 - 00;16;05;16

Speaker 2

100%.

00;16;06;08 - 00;16;32;01

Speaker 1

Thank you. All right. So you have you have been in this business for a hot minute for six years. And, you know, a lot of what people are talking about right now is, you know, this probably arguably at the most volatile it's ever been a short term rental industry since you started back in 2016. So I'd love to know sort of how are you perceiving your future in short term rentals?

00;16;32;14 - 00;16;37;03

Speaker 1

Are there some ways that you're adjusting to what might be a bit more of a bare market?

00;16;37;18 - 00;16;59;10

Speaker 2

Mm hmm. Yeah, I think. I think it presents an opportunity if you're an investor, so it's been very hard, specifically in the short term market, short term rental market, when we look at, you know, Airbnbs, VRBO, things of that nature, it is the end of 22 to even the beginning of 2021 to the end of 21 and to now.

00;16;59;10 - 00;17;22;25

Speaker 2

It's been hard, in my opinion, to find some good deals because the prices have been going up so much. And a lot of these desirable Airbnb markets are short term markets. And so I think what we're going to see and what we're already seeing, at least in the long term rental market, is these homes are starting to sit longer because interest rates are going up.

00;17;23;07 - 00;17;40;22

Speaker 2

So in theory, we should see some price corrections happen over the coming year. And I'm already seeing right now I bought two properties this month that they sat for over 30 days, offered 40,000 under asking and people took them because they know the market's kind of squirrely and they're saying, you know what, I have a buyer right now.

00;17;41;04 - 00;18;02;26

Speaker 2

They can get it off my hands in a quick amount of time. Let's sell. And so I think I think we will see that, you know, people say, well, what about the rising interest rates? You know, this is strictly opinion, but I don't think what we were at wasn't normal. What you saw from 2-4 percent that wasn't normal.

00;18;02;26 - 00;18;20;24

Speaker 2

I think normal is 5 to 7%. And right now we're still lower than like a lot of historical averages. And so probably what's going to happen, people are just freaking out about interest rates right now, but they're going to go a little bit higher, most likely, and then eventually they're going to come back to where they are right now, maybe just a little bit lower.

00;18;20;24 - 00;18;41;05

Speaker 2

And they're going to look like a good deal because it will have gone up so much higher and then come back down. So when I look at properties and I'm looking at deals, it's essentially a mathematical equation that you can factor in a number of things. What is the purchase price? What is the interest rate, what are the rents?

00;18;41;05 - 00;19;12;00

Speaker 2

And so if interest is going up, then we probably are going to have we can't control that. We we can't control interest rate, but we can to some degree control what we are going to buy the property at. And so now it looks at, okay, what can we, you know, how low can we get this and then take our data of what are our occupancy rates, what are our rental rates going to be, which is where a company like AirDNA comes into play because they have all of that data.

00;19;12;09 - 00;19;30;11

Speaker 2

And so then we can put together these data driven, logical, emotionless decisions and say, okay, it's interest rates are a little higher, but we've got it at this price. We got it under contract here. And we know based on data, the occupancy rates and the rents per night are going to be here so we can, you know, feel comfortable moving forward.

00;19;30;11 - 00;19;51;29

Speaker 2

And then guess what? If rates ever just drop drastically again, then we can go ahead and refinance into a lower rate. But I always caution in that line, I don't want to get long winded here. You don't want to buy properties at higher interest rate banking. Oh, well, they're going to come down soon, so I'll just drop. So if I make a bad purchase now because they're really high, I'll be able to lower that interest rate here in a few months.

00;19;51;29 - 00;20;11;09

Speaker 2

You don't know that. Okay. I don't care who's saying what the people in charge were saying. This was transitory inflation. You know, at one point it's not. So I don't care if the top saying your buddy saying, you hear me saying it, you don't really know. So do not bank on speculation. Just make sure you're making good data driven decisions.

00;20;12;04 - 00;20;28;29

Speaker 1

I love that. I love that. Yeah, we I have a whole bunch of them. But one of my new favorite ones is facts over feelings, right? So there is a lot of hype out there everyone. Somebody is always going to tell you, you should invest in this, you should invest in that, or this is going to happen in the market that's going to happen in the market.

00;20;29;28 - 00;20;49;01

Speaker 1

So, you know, I think like definitely like looking at the sort of worst case scenario and the best case scenario and sort of where are you going to fall in the middle is great advice. And then yeah, certainly we will we will caveat, as my lawyer wants me to, that this is not financial advice. This is just like personal experiences and perspectives.

00;20;49;01 - 00;21;01;08

Speaker 1

But you have had a lot of success with your strategy. So, so great to see how you're thinking about things like interest rate and what your investment will be in the future. I love that. Thank you so much.

00;21;01;23 - 00;21;12;19

Speaker 2

Yeah, for sure. I'm I'm excited about the future. I really I really think it's a good opportunity to learn to learn the real estate game because, you know, it's going to be prime prime for the picking here if you're in a good position in the next year or so.

00;21;13;17 - 00;21;32;05

Speaker 1

Yeah, I see. Things seem to like sort of balance out right to your point. Right. Interest rates go up. That may make it so that homes are a little bit more affordable in the long run. And then, yeah, there's always where I like to say where there's a bear, there's a ball, right? There's always, you know, opportunity if you're if you're willing to approach it with a cool mind.

00;21;32;26 - 00;21;37;07

Speaker 1

So I really love that mindset that you've got as well. And yeah. Yeah. No.

00;21;37;29 - 00;21;38;22

Speaker 2

I'm sorry. Go ahead.

00;21;39;00 - 00;21;56;12

Speaker 1

No, I was just going to say there's you know, I think there's never it's like kind of like starting a business or having a baby. Two things that you're also familiar with, like you, there's never a good time to do any of those things right. Like so people have been saying it's not a good time to invest in real estate since your friend, you know, a few years ago it was exactly there.

00;21;56;21 - 00;22;15;11

Speaker 2

There's challenges in every market. And so the ones who sit on the sideline never win. You got to be okay with a new market just try to baseball player analogy hit hit a bunch of singles. Okay. If you hit a bunch of singles maybe you eventually run into a double, triple or a home run. But the whole point is if you hit some singles, maybe they're okay deals right now.

00;22;15;11 - 00;22;23;10

Speaker 2

But if we hold over the long run, we're going to win, you're going to win. And so you've got to have this long term outside of what's this going to look like in 10 to 15 years?

00;22;24;08 - 00;22;42;28

Speaker 1

I absolutely love that. Yeah. And it's it's a long game. I think a lot of folks index off the high, like you said, of 2021, right. Where it's like no, like this is, you know, this is not necessarily a get rich quick scheme. It's like a lot more effort that you're making for financial security or freedom.

00;22;43;16 - 00;22;44;04

Speaker 2

Exactly.

00;22;44;19 - 00;22;48;10

Speaker 1

Well said. I love that you snuck in a baseball analogy there. Thank you.

00;22;48;19 - 00;22;51;03

Speaker 2

You're welcome.

00;22;51;24 - 00;23;15;02

Speaker 1

All right. Well, we love to wrap our podcast with a little game we play with everybody. It's who, what, where. So the first question, JD, for you is, besides yourself, the finance cowboy, of course. Who would you recommend that? Somebody who is new to the business should listen to or go to for advice?

00;23;15;28 - 00;23;40;29

Speaker 2

I really like Guy RAZ. RAZ His podcast, How I Built This for an entrepreneur of mine like me, it just inspires me and it gets me going. And it's a podcast that tells stories. And he brings in and interviews other entrepreneurs who've done just crazy different businesses and talks about their journey. And so it's super inspiring and you'll learn a lot from these smart folks.

00;23;42;00 - 00;23;59;13

Speaker 1

That's one of my favorites, too. You reminded me. I need to go back and catch up on a few episodes. Yes. All right. What do you wish you knew before you started in the short term rental business?

00;23;59;13 - 00;24;18;23

Speaker 2

I wish I would have knew when it came to short terms how much more hands on they can be than long term rentals. I started buying my real estate journey through flipping and buying long term rentals, and then I moved into the short term space. And it's like anything you learn how to build out the systems and processes.

00;24;18;23 - 00;24;22;27

Speaker 2

But if I would have known all those on the front end, it would have made the transition a lot easier.

00;24;24;10 - 00;24;38;06

Speaker 1

Definitely. I like that one a lot. Okay, we're hopping in our time machine. If you could have started in any market, where would you have bought your first property?

00;24;39;25 - 00;24;49;15

Speaker 2

Mm. I probably would have bought my first property if we're talking back in 2016, 2017.

00;24;49;24 - 00;24;51;07

Speaker 1

We can go back as far as you want.

00;24;52;26 - 00;24;56;19

Speaker 2

Oh well, we’ll go to 08, 09 then and just buy, you know, we'll buy everywhere.

00;24;56;19 - 00;25;00;20

Speaker 1

You know, that's when I want to go back to, yes.

00;25;01;13 - 00;25;33;15

Speaker 2

And just take advantage of all the great deals on the market. You know, I wish that I could have got in a little bit earlier and bought in some of these cities that blew up. I buy in more rural areas outside of cities, but I wish I could have started a little earlier in a in towns kind of like Nashville and then closer to me, Greenville, south Carolina and Mount Pleasant, South Carolina, near Charleston, before they kind of got outrageous because, man, the the growth that has taken place in these towns have made a lot of people wealthy.

00;25;33;15 - 00;25;39;27

Speaker 2

So it just teaches you teaches you to just know over time you can just buy and hold. Over time you're going to win.

00;25;39;27 - 00;25;56;04

Speaker 1

So I love that. Yeah, I know we're in Denver and same, same story. Like, it's like, oh, if only we bought in Denver six years ago. Yeah, actually we did buy kind of around then but still bought six houses instead of one. Yeah.

00;25;56;04 - 00;25;57;16

Speaker 2

Instead of yeah. So one.

00;26;00;02 - 00;26;19;16

Speaker 1

JD, I've so, so, so enjoyed getting to know a little bit more about you and all of your businesses, especially Finance Cowboy. If folks want to get more advice from you. And again, I love that you're mentoring the community and helping folks get their start in real estate. Where do they find you, my friend? Where should they go?

00;26;19;16 - 00;26;35;26

Speaker 2

Best place to find me is on Instagram. So it's @financecowboy. And that's where, you know, I spend a lot of my time and put out a lot of free content every day. I have a lot of free resources and then I obviously have the mentorship for folks who are saying, Hey, it's time for me to get going, you know?

00;26;35;26 - 00;26;42;15

Speaker 2

So I would love to have you hang out and I'm here to help. So if I can ever help with anything, do not hesitate to reach out.

00;26;43;11 - 00;26;55;01

Speaker 1

I love it. Awesome. Well, thank you so much. I'm sure some of our listeners will take you up on that offer. I certainly will start following you and I'll call that a wrap. Thank you so much for being on the STR data lab.

00;26;55;17 - 00;26;57;11

Speaker 2

Thank you for having me. You guys be good.

00;26;57;26 - 00;26;58;20

Speaker 1

You too.

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