Tristan

I spoke with 153 hard money lenders over 2 months trying to find acquisition debt on my latest deal. I naively thought most were actually "private" lenders, and therefore capable of getting creative and competitive. Wrong. Here's everything I wish I would've known beforehand.

@meyer995 @DFWscanner Two over my house in East Dallas. Nothing on Flightradar though..

@DFWscanner are there fighter jets flying over Dallas right now? Pretty loud for landing aircraft at Love Field

@TheREDevGUY These prices are seasonal. Calendar strategy would be different and market specific for year round

@TXStrGuy Are these seasonal or year round?

Calendar management on an Airbnb in a summer market is make or break. 3 months are your entire year, so planning starts in December. Minimum nightly stay rules are key. No Saturday check-in/out Dec - 5 nights Mar/Apr - Su/Mo: 3 nights. Tu: 4. Thu: 3 Apr/May - Adjust for gaps

@TBitTwo Yep 80% and rural

@TXStrGuy I'm on spring break but I feel like I could find better. Issue is seasonality? 80 ltv is a bit tight.

Spent the last few weeks looking for a DSCR loan for a rate/term refi on the river house. Tough to find lenders willing to go to 80% LTV in a small seasonal market, especially on an Airbnb. Best term sheet I've gotten so far. No escrow. Not terrible!

@ddraghinas Yep, gonna see if I can negotiate some IO

@TXStrGuy Long Prepayment term

@vannman26 Ghibli asparagus

@TXStrGuy They got the asparagus recipe in the air fryer right tonight. A small win

@farango77 Yep, kept the PM on when I bought in 2023. Didn't go into the deal thinking of it as a true STR investment so I was happy to be hands off. I wasn't as happy after reviewing 2024 YE numbers tho

@TXStrGuy So previously, you had a property manager in 2024 is that correct?

June & July 2025 (so far) vs. 2024. Pretty crazy.

@geoff_l Year round occupancy is ~30%. Everyone does well in the summer, so it's really about maximizing those months with length of stay changes and pricing. Otherwise, big focus on listing differentiation during the offseason because the town is absolutely dead

@TXStrGuy is this market demand? Are you managing presentation/pricing better?

@geoff_l Same. It only looks low because occupancy was like 18% lol

@TXStrGuy how is your cleaning so low? I'm getting quoted $200/clean in seattle for 4bd/2ba

@unforgivnbastrd They did about $33k at 95% occupancy for the same months. We're at $38k at 64% occupancy right now. Just better calendar management and pricing!

@TXStrGuy Business is booming now, eh? Am I reading that right?

@EddieCoates Hospitable. Decent reports, integrates with Quickbooks. Big fan of the simple UX. Other platforms I've used tend to overcomplicate and overcharge with lots of useless features

@TXStrGuy What PMS are you using here? Looking for the right platform that also has bookkeeping capability.

Less than 40% of these listings were purchased in or after 2022. Less than 20% were purchased to Airbnb. No, seriously.

@Kinner Thanks brotha

@TXStrGuy Absolute banger

Plans for Longhorn Lodge just about done. - 7,499 sqft w/ pool & hot tub - 4 bedrooms + bunk & theater room - 2nd floor bar + game room + rooftop patios - 5 cabins each w/ barrel sauna - Pickleball courts, par-3, turf area w/ projector - Sleeps 30 🤠🤤

@ddraghinas Thanks! Only renting it as a whole.

@TXStrGuy Congrats! Will this be rentable individually, the entire development, or both?

@DMAC_19 @DallasAptGP Didn’t use a broker. I was under contract for a few months with multiple extensions before I felt like I was wasting time interpreting how to permit or plan development of a parcel with title, appraisal, city, & geo referencing diff legal descriptions across different rec instr.

@DallasAptGP @TXStrGuy Why do ya’ll need attorneys to set up escrows and close transactions? And also need a broker?Honest question.

@TaylerWTibbitts The frustrating part is that they’re great attorneys. Big firm. I worked with them on several deals at my last dev job. Good enough that I reached when I went solo. This is a “residential” deal so it’s almost like someone said whatever just bill it. Pretty disappointing.

@TXStrGuy Man this is disappointing to hear. The bar to being successful as an attorney these days is low: 1- respond to phone calls and emails within 24 hours (quicker is better of course) 2- charge a reasonable fee 3- meet reasonable deadlines 4- keep your clients up to date

@RyanDanz Wait holy shit this is exactly where I recognize you from outside of X lol

Back in the day I was on a tv show called the amazing race. There were 20 seasons prior to the one i was on. All 20 seasons had a grand prize of $1,000,000 if you won the final leg of the race (each leg, a team is eliminated, so the last leg is between 3 teams). The season starts with 10 or 11 teams. On my season we were offered, for the first time in TV show history, a chance at $2,000,000 as a grand prize, but you had to win the first leg of the race as well as the last leg. Just came here to tell you all, my partner and I won the first leg of the race (in Shanghai, China). But when we were down to the final 5 teams (after having won a few other legs and never finishing lower than 3rd? 4th?), our camera crew "forgot" to carne their camera equipment at the Istanbul Turkey airport, and so we couldnt fly to Russia with all the other teams. And then we were eliminated because we were like a day and a half behind by time they got it sorted out and we got back to the Race. Welp anyway, happy valentines day i guess 😭💔