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richard fertig | next gen hospitality developer Profile picture
richard fertig | next gen hospitality developer
@imrichardfertig
Founder @ Stomp ($90mm+ w LPs) Current locations: Southampton, Outer Banks, Nosara Ex: Wharton MBA, Blackstone, Co-Head of Investments Ramius ($4.5 billion aum)
Jun 27, 2022 • 5 tweets • 2 min read
You sure you want to be an STR host?

1) Thankfully, everyone is ok!
2) STR had working alarms & saved lives. Check yours! Change batteries annually.
3) My employee who forwarded these photos checked in 8pm. Next morning 5:18am, fire everywhere.

🧵 1/ 4) Apparently prior guest checked out and left embers on roof 😳😱🤦‍♂️

5) install and check carbon monoxide detectors whether required by law or not. Simple, inexpensive. Save lives.

6) minor, relative to worst case scenario, but this host’s business is majorly impacted.
Mar 9, 2022 • 9 tweets • 2 min read
5 Reasons Why The STR Asset Class is mispriced:

1. Zoning
2. Vacancy risk
3. Regulatory risk
4. STR Optionality
5. Synthetically replicate LTR lease using STR

(my YT video linked at the end for greater explanation)

a 🧵 1. ZONING
Currently (w few except) 1 can buy cash flowing STR, in a legal community, at similar comps as SHF in a prohibited community (LTR only)

Yet, STR throws off significant NOI, the LTR is a mere fraction.

Yet, they comp out.

One can buy STR zoning for $0.

Not for long
Mar 8, 2022 • 5 tweets • 2 min read
Update: thrilled to announce Stomp Capital closed on our 1st acquisition!

Pro forma net returns in the high 20s / low 30s IRR.

Showcases some of our alpha generating principles:

1) buy right - purchased @ depressed value bc current 2 story retail use was inferior

1/5 2) PRIOR to closing, changed county zoning laws to allow STR
3) redevelopment
4) rezoning from commercial to residential
5) gut renovation turning to 14 one bedroom suites available by the room, by the night
6) designer decorated under Edgecamp brand

2/5
Mar 5, 2022 • 4 tweets • 2 min read
Edgecamp’s 5 bedroom oceanfront (pardon outdoor furniture inside for winter).

Oceanfront & Soundfront water views, pool, hot tub, fire pit, home office, etc etc

Book: edgecampsportingclub.com
Feb 6, 2022 • 5 tweets • 2 min read
Long overdue.

My father, self made, self educated (5th grade education), born 1926 Great Depression, orphaned

1946 started one of 1st mail order businesses.

Laughed @ “people buy products they don’t see and prepay? Trust some kid in the Bronx will mail items? Good luck!”

1/5 Paid in stamps and coins - this was before credit cards existed!

Nobody saw what he saw. He did it anyways.

Later, when I graduated college, he ASKED if I wanted to take over the biz. I respectfully declined. “Dad, I want to prove myself against the sharpest guys on Wall St”
Jan 17, 2022 • 7 tweets • 4 min read
Wow! record-breaking followers yesterday! Thanks.

Quick intro:
Prior life, Co-Head of Investments, institutional $4 Billion+ AUM alternatives hedge fund
Laid off 2009 Great Financial Crisis. 
Reinvented me: Entrepreneur
Launched YT Channel (62k subs): youtube.com/struniversity
1/7 YT - Teaching others how to invest in the emerging short-term rental asset class. 4+ million views later, I am honored and humbled to have helped so many people achieve financial freedom.

2/7