349. We Bought Land (Part 1): Laying a Foundation for Long-Term Partnership

Today’s expert guest (and one of our new business partners!) is Mike Navarro of Columbus, Ohio. Mike and his wife Ingrid entered the residential market as first-time homebuyers and have since expanded into multi-family housing, constructing single-family homes ranging from 400 sqft to 4500 sq ft. Their diverse portfolio comprises over 20 units, including single-family homes, multi-units, and condos, with a total real estate holding value of $10 million.

We chat with Mike today to lay the groundwork for a series of episodes in which we’ll be detailing our newfound property partnership together – the plan, the preparation, and everything in between – in as much detail as we possibly can.

In this one, you get the skinny on Mike and his wife, as we cover the background of their incredible scalability and unlimited energy. We get vulnerable about our own thought processes before, during, and after the deal closed only a few short weeks ago, and we get excited (well, most of us) about the next steps – surveys, utilities, operations, branding, marketing, oh my!

So many of you ask us about partnerships – consider this episode just the tip of the iceberg on a deeply personal case study illustrating our take on the process, and how we go about our decision making challenges along the way.

(00:01:26) #STRShareSunday: @timbercovehideaway

(00:02:54) Introducing Columbus STR Expert: Mike Navarro

(00:14:00) What Made Them Switch to STRs?

(00:22:28) How Sarah, Annette & Mike First Crossed Paths

(00:25:24) Mike Navarro’s New-Build Property Experience

(00:32:36) Deal Maker: How (and Why) We Became STR Partners

(00:47:39) Reviewing Our Final Land Acquisition Deal

Resources:

• #STRShareSunday: @timbercovehideaway

• Website: rowehouserentals.com

• Instagram: @rowerentals

• Thanks For Visiting Org Chart: Free Download