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Episode 182: Arbitrage, Wholesaling & BUYING your STRs w/ George Salas!
Description
George Salas shares how he built a 50+ unit short-term rental portfolio generating $175,000+ per month after losing everything in a nightclub venture. Starting with zero real estate experience in 2018, he made $46,000 on his first flip, then pivoted to STRs - launching 10 arbitrage leases in 30 days and earning $119,000 in his first four months. When COVID hit with 40 properties (mostly apartments), he worked 18-hour days to survive, then made a critical shift: dropping 29 apartments to focus exclusively on single-family homes, tripling his revenue within a year.
George breaks down his acquisition strategies mixing wholesaling, subject-to deals, and arbitrage; his ironclad guest screening process that eliminated 99% of parties; solving the trash accumulation problem at houses; why he spends $25,000 per property on staging (versus $5,000 for apartments); and his business ecosystem flowing clients from bootcamps to coaching to joint-venture partnerships. He explains researching HOA bylaws for four key terms, working with the attorney from the Austin Supreme Court case, and including 60-day exit clauses in leases. The Houston investor also covers fully-loaded kitchens as the differentiator hotels can't match, using Minute for noise monitoring, and why going niche with a specific avatar beats trying to serve everyone.
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