My guests today are co-managers at a hard money lending company called Carolina Hard Money. Wendy Sweet and Bill Fairman have 50 years real estate development experience between the two of them. They specialize in multi-unit homes and Airbnb properties.
They discuss the exciting market developing over in the Carolinas (North and South) with me and the trends they have noticed. We also discuss the general trend of re-gentrification nationwide and the great opportunities it has created.
Plus, if you are interested in getting into the Airbnb model, Wendy has some awesome advice for you!
00:00 — Introduction to the Big Mike Fund Podcast.
00:23 — Welcome Wendy Sweet and Bill Fairman.
02:00 — The exciting real estate trends happening in the Carolinas and how Wendy and Bill are riding the wave.
05:11 — The nationwide trend of reviving “the downtown” areas.
05:50 — The preference for multi-unit homes in Charlotte, NC.
07:56 — Why Charleston, SC is resisting the multi-unit trend.
08:35 — My observations of re-gentrification in New York.
09:35 — How Wendy and Bill structured their fund.
15:40 — Why there is no such thing as a guarantee.
17:16 — Is the fund cumulative profit? And why the answer matters.
18:05 — Wendy’s experience with short-term rentals.
20:19 — The common misconceptions newcomers have about Airbnb.
21:44 — The appeal of short-term rentals.
23:05 — What Airbnb really involves.
23:56 — The red tape issues that come up with Airbnb.
25:45 — The key to a great Airbnb experience.
26:36 — How Wendy and Bill cope with compression in their market.
31:17 — Our book recommendations for the audience.
33:22 — Thank you to Wendy and Bill for joining me today on the podcast.
34:10 — Outro to the Big Mike Fund Podcast.