Today’s guest is Alex Jarbo.
Alex Jarbo is the founder and CEO of Sargon Investments. He is a regular contributor to some of the top real estate investing podcasts in the world. He is also the host of the YouTube channel Alex Builds where he teaches how to properly build and manage short term rentals.
Show summary:
In this episode, Alex Jarbo, founder of Open Atlas Investments, shares his journey from the Marine Corps to building a $40 million real estate portfolio in vacation rentals. He discusses the importance of treating vacation rentals as a business, being present on multiple platforms, and building an email list of guests. Jarbo also talks about the changing preferences of short-term rental consumers, the influx of people into the vacation rental market during the COVID-19 pandemic, and his expansion plans. He credits his success to understanding the principles of scaling from multifamily real estate and applying them to vacation rentals.
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Intro [00:00:00]
Starting in Real Estate [00:00:55]
Scaling the Vacation Rental Portfolio [00:03:06]
Investing in Bigger Short-Term Rental Deals [00:05:00]
Treating Vacation Rentals as a Business [00:10:10]
The Flood of New Market Entrants [00:11:00]
The Benefits and Challenges of Syndicating Short Term Rental Opportunities [00:13:20]
The shift in management [00:20:25]
Passion for negotiating deals [00:21:39]
Time to fire myself [00:23:08]
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Connect with Alex:
Linkedin: https://www.linkedin.com/in/alex-jarbo-28a940139/
Web: https://openatlas.investments/
Connect with Sam:
I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns.
Facebook: https://www.facebook.com/HowtoscaleCRE/
LinkedIn: https://www.linkedin.com/in/samwilsonhowtoscalecre/
Email me → sam@brickeninvestmentgroup.com
SUBSCRIBE and LEAVE A RATING. Listen to How To Scale Commercial Real Estate Investing with Sam Wilson
Apple Podcasts: https://podcasts.apple.com/us/podcast/how-to-scale-commercial-real-estate/id1539979234
Spotify: https://open.spotify.com/show/4m0NWYzSvznEIjRBFtCgEL?si=e10d8e039b99475f
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Want to read the full show notes of the episode? Check it out below:
Alex Jarbo (00:00:00) - I think gone are the days of just taking any type of random property and just throwing it on one site like Airbnb and just being done with it. Like I said, you need to treat it like a business. You need to be on multiple platforms like Airbnb, Vrbo, Booking.com. You need to be building your own email list of guests.
Intro (00:00:15) - Welcome to the how to Scale Commercial real Estate show. Whether you are an active or passive investor, we'll teach you how to scale your real estate investing business into something big.
Sam Wilson (00:00:28) - Alex Jarboe is the founder of Open Atlas Investments. Alex is at the forefront of revolutionizing the vacation rental and hospitality industry with his focus on custom, unique micro resort developments. Alex, welcome to the show.
Alex Jarbo (00:00:42) - Oh, thanks for having me on, man. Absolutely.
Sam Wilson (00:00:44) - The pleasure's mine. Alex. There are three questions I ask every guest who comes on the show in 90s or less. Can you tell me where did you start? Where are you now? And how did you get there?
Alex Jarbo (00:00:52) - Uh, started out of the Marine Corps.
Alex Jarbo (00:00:55) - Directly. Moved here to Asheville, North Carolina and got my real estate license. Started looking for a property. Realized really quickly I couldn't purchase anything that was in my price range. So my very first real estate investment was a ground up development, 800 square foot A-frame that we own to this day, and that over the last seven years snowballed into close to a $40 million real estate portfolio. Either were acquiring, purchasing or managing over $40 million in vacation rentals just in this market alone.
Sam Wilson (00:01:24) - Wow. Yeah, in Asheville is a great a great market for that. I I'm guilty of actually looking. Was it Airbnb this morning? Maybe I was looking at short term rentals in Asheville. So maybe maybe I need to come to you first here when this calls over and see what you got. But no, seriously, that's that's impressive. What year did you get out of the Marine Corps and start investing in real estate?
Alex Jarbo (00:01:46) - Yeah, 2017 is when I moved here. Yeah. So relatively I mean, I've been in it for roughly six years now, six, seven years.
Alex Jarbo (00:01:54) - But I started reading up on real estate books like my last year in the Marine Corps. And just I originally turned to flipping. And then there was a, I joined like a flipping mentorship. And the gentleman that was a part of that flipping mentorship he had, like just briefly, I'd mentioned that back in 2016, like all of his like, long term wealth was tied into short term rentals. And that really, like perked my ears, got on a one on one call with him. He sort of taught me how to, like, invest like in a market, like how to choose a good vacation rental market. There was like 3 to 5 markets that we had decided on. And my fiance at the time, wife now was like, yeah, Asheville looks really cool. I'm like, screw it, let's go. Like, I was open to really moving anywhere. I'm originally from Detroit, Michigan, but we've been here ever since 2017.
Sam Wilson (00:02:40) - Yeah, and you picked one of the prettiest parts of the country, in my opinion, to live in.
Sam Wilson (00:02:44) - I've got obvious envy for where it is that you call home. But that's. Let's get back on track, though. I mean, that's that's impressive. 2017 till now, a $40 million portfolio, but not just a $40 million portfolio. I think it's one thing to say, oh, hey, we got a $40 million portfolio in multifamily. Again, not to be discounted by any stretch, but you can do that with one deal.
Alex Jarbo (00:03:05) - One deal.
Sam Wilson (00:03:06) - That's really tough to do. I would imagine in the short term, rental space would have been some of the keys that have really helped you scale that.
Alex Jarbo (00:03:15) - One of the biggest things is just understanding that and this, this most of the stuff I know about the larger vacation rental deals or just vacation rentals in general, talking to, talking to investors, everything I learned from multifamily books, it's like the like the way we the way we pitch our deals with preferred returns and equity splits between general partners and limited partners. All that stuff was taught through mentors or multifamily mentors or multifamily books.
Alex Jarbo (00:03:40) - So I realized really quickly the same thing with multifamily. Going from single family long term rentals to owning multifamily, is that scaling, doing larger deals, like I call them, micro resorts, anywhere between 7 to 20 units, 40 units. It's not. It's to go from one unit to ten. Unit is not ten times as hard. So I learned that really quickly with the development piece that in terms of my time, me looking at a property that we can build two cabins on, or me looking at a property that we can build 20 properties on, it was the same use of my time. Obviously it was more for my engineer and my GC, but for me to look at like just driving out to parcels, it was the same time. It was just the number was obviously way bigger. So that's where that came from. Was like I looked at my goals and I wanted to see where I wanted to get to, and I didn't want to just focus on Wednesday and Tuesday cabins here and there.
Alex Jarbo (00:04:36) - Granted, those still make I mean, all those properties that we've developed in the last six years have cash flow very well. But doing these larger deals, I mean, the numbers are just crazy compared to what what I was doing say, like just four years ago alone.
Sam Wilson (00:04:51) - Give me give me a case study on that. Like what? What sort of. What is a bigger deal in the short term rental space, and how do you identify that?
Alex Jarbo (00:05:00) - So the when the we developed six cabins which that doesn't sound like that much, but like we developed a six cabin one and then we purchased a seven cabin or it was a historic house with six cabins on it. The one that we're purchasing right now is a $20 million development, and that one is only 20 units. But these properties cash flow like crazy, like just the seven units alone have done close to seven figures in in revenue just in this year alone. So when I when I say like bigger deals, I would say anything over like 6 to 8 units to start that are in the same area.
Alex Jarbo (00:05:35) - So like you're purchasing and I've said this before, there's a lot of mom and pop owners on of bed and breakfast and some of these like larger cabin communities that like, existed prior to when Airbnb and Vrbo were a thing. And now those mom and pop owners are of retirement age, and they're looking to sell off some of these properties. And what I've realized, I've looked at a lot of these. I purchased a couple of them in just the last year and a half. A lot of these are undervalued, like significantly. And so that's what I would say to your original question is the like I would say anything over like 4 or 5 units that are in the same area would be a little bit of a bigger deal compared to just purchasing 1 or 2.
Sam Wilson (00:06:15) - Yeah. No. Absolutely, absolutely. And that's and there's scale is relative to what it is that you are working on. How do you. So please don't mind the cash flow. Yeah, absolutely. I mean that's insane cash flow.
Sam Wilson (00:06:29) - Insane cash flow. What do you feel like? I mean, you made you made a point there where you said that, you know, a lot of these these these styles of. Short term rentals have been around for a long time. This is not anything new, but absolutely, I would argue and maybe you can confirm or tell me, put more clarification on this, because I'm not in the short term rental space, but that investor preference has changed in what those short term rentals look like. Amenities mean all of those things kind of kind of give us some broader overview on that and how you guys are setting these things up for today's consumer.
Alex Jarbo (00:07:04) - So for the on the consumer part it's like market then property. So market investing in properties that tend to be a little bit less or investing in markets that tend to be a little bit less seasonal. So Asheville mountain markets that aren't necessarily ski resorts like cities, those tend to do really well because they're less seasonal. Nothing gets more picturesque than a cabin or a property on the side of a cliff in the winter, right in the mountains.
Alex Jarbo (00:07:30) - Right? So so that's market when it comes to properties. We're investing in unique properties or developing or purchasing unique properties where the property itself is an experience outside of the city that the guest is visiting. That's really important. And you're right about the guest expectation changing. It has definitely gone full circle, and we can talk about that in a second. About back in the day, you had to pick up a phone to book a vacation rental, and now it's like it's sort of hospitality. And vacation rentals are sort of moving towards like direct booking sites, which is almost practically full circle, where I look at Airbnb, Vrbo, Booking.com, they're always going to be a part of my business, but I look at them as marketing arms to my business. It's where the eyeballs are at, but the eventual goal is to be able to take the guests off of those platforms after they stay with you. That's the key there, after they stay with you, not when they're trying to stay and put them into your own ecosystem through a direct booking site.
Alex Jarbo (00:08:23) - And that way you're treating all of this like a business, and not just when someone asked me like, it tears me apart when I go, hey, what do you do? Or how many properties do you have? And they're like, I'm an Airbnb. So you're like, no, you're not in Airbnbs, you're in vacation rentals. And if you want to take it a step further, you're in hospitality, right? So when when it comes to like guest like the guest expectation back in the day when you had to pick up that phone, you had to. A lot of times you have to bring in your own silverware, your own linens, like stuff like that is completely changed. And then just there's a higher level of expectation now, especially with the flooding of vacation rentals that has happened in the last like 4 or 5 years into the markets. I think people are looking for those more unique stays, those more, I call them Instagrammable properties where people would be proud to put them on the like on their social media, where your guest practically turns into your own little influencer because they're putting it on their social media and showing their their people.
Alex Jarbo (00:09:16) - And then that redirects you to your website or your Instagram account or whatever social media account you want to use, right?
Sam Wilson (00:09:22) - No, I love that, I love that, yeah. And I've heard that from other people who've come on the show saying, hey, look, you know, one of the strategies, obviously, is to get them off of the Airbnbs and back to your direct booking sites. I think that's really cool. Let's talk a little bit. You hit on flooding the vacay or you said flooding the vacation rental markets. What? I mean, we've seen that. And, you know, I actually saw something and I don't I don't look on social media actually very often maybe like once every 2 or 3 months. And I just happened to see a guy in the short term rental space buying a short term rental. He gave a quick, you know, paragraph about why the previous owner really stunk at being a vacation rental owner. So yeah, we see this flooding of them. But then what are people doing wrong and how does that present opportunity for people like yourself?
Alex Jarbo (00:10:06) - Yeah, it's exactly what I said about the like I'm an Airbnb.
Alex Jarbo (00:10:10) - So it's like I think gone are the days of like just taking any type of random property and just throwing it on one site like Airbnb and just being done with it. Like I said, you need to treat it like a business. You need to be on multiple platforms like Airbnb, Vrbo, Booking.com. You need to be building your own email list of guests. And one of the easiest ways to do that. And I've plugged this company ever since I've started like interviewing with about properties is a company called Staffie, and it's a Staffie sells these little discs that plug into the back of your router very cheap to purchase these. And then the subscription is incredibly cheap, but it creates a landing page for your internet. So like imagine when you go into Starbucks, you go into the airport, you have to put your email address in to get access to the internet. It's the same thing, except you have your own branding for your company. That way when a guest stays with us, we then capture their email, and then we do seasonal emails to them to get them to book.
Alex Jarbo (00:11:00) - Hey, you can save way more money where you don't have to pay these crazy service fees anymore, and you can book directly through us that way. Like I said, you're creating this, this massive wheel, this massive circle. And that's that's one thing that people, I think weren't ready for when they just saw someone on social media, or maybe they saw their friends doing real in vacation rentals, like really well in vacation rentals. And also during Covid 2020, 2021, tail end of 2022, vacation rentals saw record numbers because people were stuck here. Like people were like you could only travel domestically. So obviously occupancies were up that 95, 98, close to 100% people were charging up the craziness. I mean, I was I was part of it like my my occupancies were through the roof, but I was in vacation rentals prior to that knowing that that was not normal. So I think a lot of people that flooded the market the last like three years were just people who got into it during Covid, where interest rates were low.
Alex Jarbo (00:11:51) - If they purchased, interest rates were low. So it was really relatively easier to get a property. All of these vacation rental lenders sort of came out of nowhere as well in the last like three years, which is not necessarily a bad thing, but. That compares with like just everyone just putting their numbers out there and be like, this is how much I make. It was like, okay, cool, I can just get a property, throw it on Airbnb and be good to go. So I think that's where the flooding of the market came, was just people thinking that you could just be on one platform and be good to go.
Sam Wilson (00:12:20) - Right. Yeah. Absolutely. Absolutely. Love. And so everything you guys are doing there is in the broader Asheville area. Yeah, it's.
Alex Jarbo (00:12:28) - In Buncombe County. Yeah. After this larger deal that we're working on, I do. There are 2 or 3 other markets that I've identified in the country that I want to get into, because it's it's good and bad to have a massive concentration of like your properties in one area.
Alex Jarbo (00:12:45) - I just want to diversify into different markets after that. It's just fun to do it. I mean, these are these are cool vacation markets that are like some of the top markets in the country. So it's just it's cool to like come into a market and develop something unique that actually complements the city that you're getting into. I've always been a huge fan of that. Just whole strategy in general.
Sam Wilson (00:13:04) - Absolutely. Well, let's talk about this. I mean, you said you were taking you're taking the things you learned in the multifamily space and applying it to the short term rental space. And it sounded like you're syndicating short term rental opportunities. Talk to us about that.
Alex Jarbo (00:13:20) - Yeah, I mean, that that came from I mean, phenomenal mentors like Paul Moore from Wellings Capital is the first person that comes to mind. Just learning. The Vinnie Smiley was another one that like I've been on his podcast, I read his book. That's sort of what got me into multifamily or just understanding the the metrics around multifamily to apply for short term rentals.
Alex Jarbo (00:13:41) - But yeah, I originally got into that world just to learn and understand that, like just talking to my different mentors that like, I mean, even I mean, I don't know how it is now because I haven't really kept up with it. But during like the Covid era, even before then, like cap rates were severely compressed during during that time. So it was a pretty easy conversation to to have with a multifamily investor be like, hey, this is the preferred return. This is the general partner, limited partner split. This is the cash on cash. This is the equity multiple. It's like we practically just took the metrics that multifamily investors were used to, like, used to seeing and dealing with like in terms of a syndication and just apply that to these larger vacation rental deals.
Sam Wilson (00:14:24) - Did you do are you doing those as a one off syndication or did you launch a five?
Alex Jarbo (00:14:29) - Now it's a one off. I quickly learned it should have been a fund just just based off of the timeline that we had to close on this first deal.
Alex Jarbo (00:14:36) - So my next one will definitely be a fun. But yeah, this first one was just a single asset syndication. But yeah, that's a it's funny because I was just thinking about that this morning. I was like, I should have done a fund instead of a syndication.
Sam Wilson (00:14:48) - Yeah, well tell tell us why, I guess. Can you give us give our listeners some color on as to why you say that?
Alex Jarbo (00:14:53) - It's like. Getting the deal, finding the money compared to having the money, and then finding the deal or starting to work on the deal. Just the timeline type thing. It's like, okay, I have technically I have this closing date that I have to meet, and this is when the money has to be raised and anything and everything can happen with dealing with investors and getting. There's a big difference between a soft commitment and actually getting that money wired. So that's the biggest thing, is just the pressure of I would rather have dug that well before I needed it is what I've always told myself of, like having that money there waiting so I can then deploy it into a deal compared to the other way around.
Sam Wilson (00:15:31) - Right. And that's a challenge. It certainly is a challenge. And I think one of the. Things that you have in your favor. Having a fund is that you already know what types of assets you're buying. You've already got a proven track record. This is what we're buying. Here's the type of assets you can give a long history of the things that you're buying. A lot of times I as a personally as a passive investor, I'm not a big fan of funds because especially if it's a blind, entirely blind fund where you're like, all right, so you say you're going to buy that, but I'm not quite sure. You're like, hey, no, like, here's the 8500 previous I'm making number up. But properties we've bought that, this is what's going in it.
Alex Jarbo (00:16:08) - So yeah, that's a good point. I mean the I have so there's a fund that we've teamed up with and I'm completely open to doing that with this deal. But there was a there was a fund that we teamed up with where.
Alex Jarbo (00:16:21) - Like some of the some of the assets in that fund where like the investors were like, okay, I would rather just I wish it was a single asset syndication where I can just invest in this one property. So it's a double edged sword. It is honestly.
Sam Wilson (00:16:32) - Yeah, it is. And I will say that openly because we have a fund open right now that raising capital in a fund is twice as hard as raising for a single asset. So cut. Like you said, it cuts both ways. And I've heard that from a lot of sponsors. Like it's harder it's harder in a fund than it is in a single asset deal. But yet the ability, like you said, to continue to acquire, to continue to raise money constantly as opposed to going, all right, well, now it's go time. Now we raise a bunch of money. Okay, we closed and then you start the whole process over again. It's it cuts both ways. So making that decision obviously on a case by case basis.
Sam Wilson (00:17:04) - But I just loved hearing hearing your insights on that okay. So we talked a little bit. Focus on bigger deals syndicating these deals. Um Alex one of the things that we talked about before this or before this show started recording was that you have coached over 5000 people in the short term rental game. What has that process been like? Talk to us about that, because I'm sure I'm sure you've got a lot of insights from working with so many different coaching clients.
Alex Jarbo (00:17:34) - Yeah, that came from I had purchased a course through Brian Page of B&B formula when it was just it was like a, I think 1 or $2000 course. When I first started, I knew I wanted to get into vacation rentals. That's why I moved here. But it was cool. He was like one of the first people to create a course. And then I had actually pitched him on one of my deals where I was like, hey, like, I would love for you to invest. And then that that had spiraled, gone into like, he had a podcast at that time, too.
Alex Jarbo (00:18:00) - And I was like, I would love to hop on the podcast and pitch the deal. And he's like, I actually don't do the podcast anymore. But I'm looking for coaches and we only have like two of them right now. And that course had morphed into a coaching program. And I've been with B&B formula, teaching an hour or two a week for the last year and a half, and then it's morphed into over 6000 students at this point. And we do group coaching one on one, all that fun stuff. But yeah, it's just it's been really cool to see students go from like zero, like learn this in the Marine Corps. Like just to just general leadership is it's really cool seeing like some of your mentees sort of surpass you and seeing some of these students build these massive vacation rental companies, management companies and a massive portfolio as well. I mean, one of our students has over like 350 listings. So it's been it's really cool to be a part of a community like that, too, because you're sort of you have your finger on the pulse when it comes to like changing the things in the economy.
Alex Jarbo (00:18:55) - So like, you'll see, like students be like it's way harder to find a deal in X, x, X, or like every 2 or 3 months. There's always like a new topic that students are constantly asking about. So the biggest thing I've seen is like the rental arbitrage deals. It's, in my opinion, still the easiest way to get into real estate investing in general when it comes to vacation rentals. But there you have to be a little bit more strategic when it comes to choosing a market compared to just like I said, going into any market, getting any type of property and just throwing it on Airbnb. So that's just what I've learned from coaching so many students. Is that the biggest thing I've learned about coaching students is that. You're a lot of times you're going to be your biggest enemy where it's like students get in their own way. It's a mindset thing outside of you. We can give you all the tools in the world, give you the best coaches in this industry. But if your mindset is not there, or like you have a negative mindset that is going to severely impact the way you talk to owners or just talking to like negotiating your deals and whatnot and managing your properties.
Sam Wilson (00:19:54) - Absolutely. Absolutely. That's that's really great. That's awesome man I can't believe that. 5000 plus 6000. Would you say coaching students at this point?
Alex Jarbo (00:20:01) - 6000 students.
Sam Wilson (00:20:02) - Yeah, that's wild man. And I think that's an added benefit maybe I probably would never have thought about was just the fact that you get that consistent feedback from the people you're talking to of what's going on in the market. It's kind of your.
Alex Jarbo (00:20:15) - Yeah, I've gotten things like, hey, have you used this service or this new service or tool for your company? I'm like, no, but it sounds really interesting. Let me check it out. And then I end up putting it in my company.
Sam Wilson (00:20:25) - Right. That's cool. Let's talk about your company for just a quick second here. How do you balance being an operator? And I'm not I'm maybe use the wrong word here, but an operator and then also a capital allocator because obviously more than capital allocator. But you're raising capital and you're operating your deals. How do you balance that.
Alex Jarbo (00:20:42) - Yeah. So the, the, the biggest shift the last six months is finding we interviewed all the top managers in this area. And we're still I'm still in the management portion of it, but I'm not in the day to day. So I found a manager had him run projections for us that were without giving him obviously our numbers. And I found a manager that projected our number like did significantly more than us, and that was because they had access to specific channels that we didn't, just because of how big they are. So I've recently delegated a big portion of like my cleaning, my maintenance, my event planning, because we have a wedding venue in this market as well that's attached to one of our vacation rental properties. All of the operations piece has been delegated to a local manager. My goal is in my management side of my company is just strategy and social media, because a lot of our properties, with them being unique, social media is a big portion of that. And then when it comes to capital raising, I love putting together these deals like that.
Alex Jarbo (00:21:39) - That is where I realized my passion is is like negotiating, not necessarily negotiating this deal in particular, we were almost practically exclusively working with the sellers because they were representing themselves. But negotiating the deals and just understanding the different pieces and just fitting them together, that's really what I really specialize in. And the types of properties we're showing investors. I mean, they do sell themselves like they truly do sell themselves. We're running a big like Facebook and LinkedIn marketing towards like raising these capital. And the leads are just flowing in every single day is just how picturesque these properties are. So in terms of selling them on, on social media or just showing, like we shot a massive investor video that took us four days to shoot, that's easy to do. And then as long as you back it up with the numbers, you're good to go. So that's what I truly enjoy. So that's how I balance it. Finding a manager. Or you can hire someone in house if you wanted to do it that way to take take all the stuff that you don't want to do, like almost an operations manager and just focusing on the, the the stuff that you enjoy doing and time blocking, just dedicating three hours a day to 1 or 2 items snowballs into a ridiculous result over the course of 3 to 6 months or a year or whatever.
Sam Wilson (00:22:52) - I love it, man. That's awesome. Yeah, in the consistently improving what your strategy is, I think it's one of the things you say, okay, I've done it this way for a long time, but let's look at another way. Yeah.
Alex Jarbo (00:23:03) - Time to time to fire myself like the, the what I came to.
Sam Wilson (00:23:08) - Absolutely, man. That's that's that's it. There was, there was somebody inside of our company there today. What she say to me, she goes, you need to stop doing that. Like now I'm like, thank you. Yeah, yeah, that's my love language. She's like, just get out of the way. Like.
Sam Wilson (00:23:22) - Seriously I'm trying.
Alex Jarbo (00:23:23) - Yeah. Like I'm like trying to focus on, like how to, like, split all my time up. And I'm like, I think I just need to remove myself. Like, yeah.
Sam Wilson (00:23:30) - It's fast as you can, man. Alex, I got one more thing here that for those of you that don't know that, listen to this show.
Sam Wilson (00:23:37) - I always ask our guests on the onboarding side of things, you know, what's a unique something unique about you or a strange hobby or something that you might find interesting or I might find interesting? And Alex shared with me that he is a Guinness Book World record holder. Alex, here at the end of the show, just break it down for us man. What world record do you hold?
Alex Jarbo (00:24:02) - Furthest distance to roll a coin. It's one of the most random things if you don't know anything about me. Yeah.
Sam Wilson (00:24:08) - Furthest distance to roll.
Sam Wilson (00:24:11) - How far was it?
Alex Jarbo (00:24:12) - I forgot, man. It was like, I don't know, like I don't I had a friend that would like, was like manager of like a Gold's Gym. And this Gold's Gym had a massive long stretch of concrete like up front when you first walk into the gym, I think it was like it wasn't that far. It was like 60, 70m. It was honestly harder to find that than it was to like actually do the record.
Alex Jarbo (00:24:32) - But yeah, I did it back in 2019 when I was bored out of my mind for 2018. And. I submitted everything to Guinness and they sent me a certificate like six months later. It's pretty funny.
Sam Wilson (00:24:46) - That's hysterical. Furthest distance to roll a coin. All right, well, on that note, Alex, that's awesome, man. You never know what you're going to get out of Alex Jarboe, a short term rental expert. Thank you for taking the time to come on the show today and share with us all of your insights here. You've got some really cool stuff going on there in the Asheville market, and look forward to hearing what you do in those other couple of markets that you've identified to move into next. If our listeners want to get in touch with you, learn more about you and or your current opportunity. Raising capital for what is the best way to do that?
Alex Jarbo (00:25:19) - LinkedIn is really easy. That's a lot of stuff. Lives on. LinkedIn is just Alex Jarboe. We actually also built a website specifically just for this deal.
Alex Jarbo (00:25:27) - So that's Open Atlas Dot investments, investments with an S. I'm sure it's going to be linked somewhere in the show notes. But the deal is also on my LinkedIn, which is probably the easiest way to get to it. And then you guys can check out all the videos that we shot for it. Pitch deck there. You guys can sign up to to just schedule a call with us, and then we can go from there.
Sam Wilson (00:25:46) - Rock and roll Alex. Open Atlas Dot investments. We'll make sure of course as Alex said to include that there in the show notes. Thank you for coming on the show today. I certainly appreciate your time. This was great.
Alex Jarbo (00:25:55) - Appreciate you man. It was fun. Hey, thanks for.
Sam Wilson (00:25:57) - Listening to the How to Scale Commercial Real Estate podcast. If you can do me a favor and subscribe and leave us a review on Apple Podcasts, Spotify, Google Podcasts, whatever platform it is you use to listen. If you can do that for us, that would be a fantastic help to the show.
Sam Wilson (00:26:13) - It helps us both attract new listeners as well as rank higher on those directories. So appreciate you listening. Thanks so much and hope to catch you on the next episode.
