House Hacking a Seller Financed Resort – Robin Hood Village Resort

Welcome to Episode one of House Hacking a Resort. Cody Davis explains a bit about what he is up to at the Robin Hood Village Resort. Cody is working on some projects preparing for our first day of ownership. We are excited to share the adventure with you.

Welcome to the channel and happy saturday today is episode one of running a resort while i’m living alongside the owners here at the robin hood village resort and union we’re closing on this in about 26 days and super stoked to do so and as i’ve lived here for the last week want to share some of my recaps for episode one and most of the recaps revolve around time

Management now a lot of people are chatting with me about okay how did you do all this in just a few years you must have been really diligent and you must have really managed your time well and i thought the answer to that was originally yes however looking back on it there was a lot of moments where i got really relaxed i was doing a lot but i could have done

A lot more and i realized that when i saw the systems in place here at the resort they run a whole resort on nine and a half acres in 12 hours a week now that is absolutely phenomenal that comes down with upgrading that comes with maintaining all the lawns flipping all the cabins multiple times a week as people come and go and there’s 20 spaces it’s absolutely

Incredible but a saying that i heard from the owner and that i’ll remember forever this projects will fill the time allotted for them meaning that if you give yourself an hour you will find projects for that hour and if if you have four hours set in a time period projects will fill the time that you give it so if you’re doing management by walking around you’re

Looking at the campus and you’re saying okay this needs work done this needs work done but i have four hours set where there’s no phones no nothing you’re gonna get a lot more done and as i built up my career in the real estate investment space i started buying rental properties i didn’t look at it like that i saw an opportunity and then i pursued it and my go-to

Saying is it’s either going to work or it’s not and i’ve said that a lot it’s either going to go well or it won’t and looking back on it if i had just set strict times of i’m going to do this from 4a or not 4am 4pm until 8pm and we’re going to get as much done as physically possible no distractions probably would be a lot farther than i am today and i was

Looking at it as a resort versus the multifamily or is the brokerage i never operated my business like that and then you think okay well 12 hours a week that’s only 12 hours you can only do so much and so you got to add a team and the takeaway from looking at the teams here is you’ve got 10 people working on site so it’s not just 12 hours a week it’s 120 hours

A week you’re not limited to 24 hours a day if you add people and if you’re trying to build your business right now we’re trying to potentially get into a resort trying to do the seller finance thing with apartments it’s not about just managing the resources that you have it’s about setting the target and then acquiring the resources you need to hit that target

If you just manage what you have it’s going to be very difficult to scale because you don’t have all the knowledge yet most likely and you probably don’t have all the capital you need yet and so instead of trying to manage just what you’ve built yes you have to be an excellent manager of your resources and time but you’ve also got to set your target and then figure

Out how to go acquire those different skill sets acquire the different people that can help you get to where you want to go and acquire the resources potentially it’s just working capital to go do things you want to do and as soon as you build all that you go build your pieces then you got to build your board of directors and this is something i hadn’t thought

About at all before really coming here i was talking with the owner and i was asking him some questions about debt and equity and he’s like okay well who’s your board of directors and if you haven’t built this out yet as you start building out your portfolio it’s something you should think about and something i wasn’t thinking about but really building out your

Go-to team of your attorney your tax guy your lender your insurance person building out that team where you can just call them up sit down grab coffee i don’t have that team yet so if you’re watching this and you’re one of those people i’d love for you to reach out i’ve got bits and pieces of the team but i’m not sure they’re they’re forever people yet and so i

Hadn’t thought about it at all and i learned from some stories of going through billions of dollars worth of transactions and deals from the owner and you know going from huge successes having some losses there’s been some amazing stories that i couldn’t even fathom before i got here just way bigger numbers way more zeros way more teams once you figure out how to

Manage your time you manage your pieces and you break down 95 of all your activities that you have to go accomplish into 12 hours a week or less you can get a ton more done you can focus on your health and you can start building out that team so you don’t have to just rely on yourself anymore in the beginning you do have to kind of scrap it out you have to pay

Your bills you have to be able to put food on the table very difficult but once you can get past that it’s really vital to start building out a team and not just thinking about okay what do you need but what do other people need and what would it take to take it to that next level and usually if you can break down your business into 12 hours a week where you’re

Accomplishing 95 percent of the tasks it’s called the 95 12 principles if you can outline that you get back all of your time and you can start building out your team and so that’s what i want to share as far as recaps go as far as actual footage of the resort this week we ended up moving cables around we got the whole parking lot re-graveled we got to go on the

Excavator we got to dig up some trees move those around and so i’m gonna clip some of those videos on the back end we’ll see how that does we don’t edit so i’m just gonna throw those in here but if you like the channel if you want to check this video out check out the rest of the videos that are going to be following make sure to like comment subscribe and if

You want to see something specifically at the resort where you want to come hang out just put it in the comment section below had a lot of people come visit this week and i’d love to see you here so check these out on the roof moving cords because we’re moving the security system all the way around and cords are everywhere so if you’ve never done this before on

A resort know that set it up right the first time and don’t put it in a living space moving all these cables from across the roof so that we can take the security box and tvs out of the pub so you guys can stay there next month and put it into the laundry room and in case you don’t know the story feel free to pause screenshot and check this out

Transcribed from video
House Hacking a Seller Financed Resort – Robin Hood Village Resort By Cody And Christian – Multifamily Strategy