Wealth As A Vacation

Page 275

CONCLUSION

TO WRAP UP THIS BOOK, I’d like to tell you the quick story of

how I ended up here, as a champion for VRP. I want to explain my background, because chances are, we have a few things in common. Twenty years ago, I was in Minnesota, living in a condo downtown connected by a skywalk system to the Dain Bosworth tower. I was working on the 36th floor, and for several months out of the year, I almost never went outside. I just walked right from my condo through the skywalk system to work because it was so cold. During those cold snaps, I basically only went outside to check out a property, to take pictures of a snow-covered field for our next development, so I could submit them to the bank with a fi nancing package. It was miserable. I hated it. Like so many talented people I speak with today, I had pictures inside of my office of tropical beaches, just so I could stay sane. I would sit back, stare at these pictures of beaches with palm trees swaying in a tropical breeze, and I would dream. The next property we were going to do that year—1999—was in the Dakotas, so I had to drive north to check it out. It was midJanuary. As I drove, the temperature began dropping significantly and it was soon 38 degrees below zero. I had to drive for three hours to take a photo of a farm field and drive back. I was in a suit. Nevertheless, I drove up there and couldn’t even keep my windows clear.

261


Turn static files into dynamic content formats.

Create a flipbook

Articles inside

ABOUT THE AUTHOR

3min
pages 281-286

CONCLUSION

7min
pages 275-280

10.2 A Pragmatic Approach to VRP

7min
pages 269-274

10.1 The Residence Club: A New Model for VRP

8min
pages 264-268

CHAPTER 10: Income Producing Residence Club Membership in Vacation Rental Property

1min
page 263

Nick Falcone

19min
pages 250-262

9.3 Branded Community

3min
pages 247-249

9.2 Operations

3min
pages 245-246

9.1 Infrastructure

3min
pages 243-244

CHAPTER 9: The Future of VRP

7min
pages 239-242

8.4 Repair and Maintenance

4min
pages 225-227

8.2 Marketing

5min
pages 215-217

7.4 Closing the Transaction

14min
pages 198-208

8.3 VRP Pricing Strategies and Other Operations Tasks

10min
pages 218-224

8.7 DIY v. Third-Party Management

11min
pages 230-238

7.3 The Negotiation

7min
pages 194-197

7.2 VRP Financial Projections

5min
pages 191-193

6.5 Lean on Your Lender

14min
pages 177-188

6.4 Accountant Alliance

6min
pages 173-176

6.3 Lawyer Up

8min
pages 168-172

5.7 Resorts with VRP

6min
pages 155-160

5.6 VRP Positioning

8min
pages 150-154

6.2 Be Realtor Ready

8min
pages 163-167

5.5 Theme Parks

8min
pages 144-149

5.4 Bright Lights, Big City

2min
pages 142-143

5.3 Beaches

2min
pages 140-141

5.2 Mountains and Ski Slopes

2min
pages 137-139

5.1 National and Natural Attractions

4min
pages 134-136

CHAPTER 5: Location (Location, Location

5min
pages 131-133

4.4 Design

22min
pages 102-115

4.5 VRP Construction

22min
pages 116-130

4.3 Architecture

12min
pages 93-101

4.2 Existing v. New Construction: An Introduction

11min
pages 86-92

3.6 Group Investment

7min
pages 78-84

3.5 Business Entity Recommendations

1min
page 77

3.4 LLCs

2min
pages 75-76

3.2 Partnerships

1min
page 71

2.13 Key Milestones and Business Future

0
pages 66-68

3.3 Corporations

4min
pages 72-74

2.12 Financial Plan

2min
pages 64-65

2.11 Revenue Management Plan

1min
page 63

2.10 Distribution Plan

1min
page 62

2.8 Operations Plan

2min
pages 59-60

2.6 Customer Analysis

1min
page 57

2.9 Marketing Plan

1min
page 61

2.5 Industry Analysis

2min
pages 55-56

2.7 Competitive Analysis

1min
page 58

2.3 Executive Summary

4min
pages 51-53

2.2 Your VRP Business Plan

5min
pages 48-50

2.4 Company Analysis

1min
page 54

2.1 VRP is a Business, NOT a Hobby

3min
pages 46-47

1.1 What is VRP?

3min
pages 21-22

CHAPTER 2: The Business of VRP

1min
page 45

1.3 Why Invest in VRP?

14min
pages 30-38

1.2 Where is VRP?

3min
pages 28-29

CHAPTER 1: Defining Vacation Rental Property

3min
pages 19-20

4 The Next Evolution of VRP Management by LRR President

7min
pages 23-27

INTRODUCTION

3min
pages 15-18

1.4 Who Invests in VRP?

7min
pages 39-44
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.