Buying SFR's in Elite School Districts - Sean O'Dowd, General Partner at Scholastic Capital

Masters of Moments

Sean O'Dowd built Scholastic Capital in order to buy SFR homes in elite school districts.

On this episode, Jake and Sean discuss:

• Building Scholastic Capital
• Raising a fund for the business
• How Scholastic picks the right markets and their asset criteria
• Fundraising, leasing, financing, technology and more!

Links:

Sean on Twitter - https://twitter.com/SeanODowd15

Sean's content and Scholastic Capital - https://linktr.ee/seanodowd

Get in touch: [e-mail]

Connect & Invest with Jake:

Follow Jake on Twitter: https://twitter.com/jwurzak

Take the Hospitality Investing Masterclass: https://learn.jakewurzak.com/

Learn How to Invest with DoveHill: https://bit.ly/3yg8Pwo

Topics:

(00:00:00) Intro

(00:02:46) Sean’s career background

(00:04:11) Lessons learned from Wharton and consulting

(00:11:38) Applying these lessons to starting your own company

(00:13:18) PE firms finding value streams

(00:15:23) Building a team of A and B players

(00:16:46) The decision to go into the RE business

(00:19:46) Sourcing the first deal

(00:23:12) The mission of Scholastic Capital

(00:25:06) How to find a “good” school district

(00:28:07) Supply

(00:29:22) Value-add decisions

(00:31:26) Requirements for a home in the right market

(00:33:01) Fundraising

(00:34:51) The SFR fund phenomenon

(00:37:07) Future capital strategies

(00:38:58) Picking a partner

(00:42:04) Biggest surprises in starting the business

(00:43:45) Structuring the fund

(00:48:52) Facilitating monthly distributions

(00:49:42) Building a team

(00:52:48) Property management

(00:55:10) Leasing & technology

(00:59:17) The importance of the home’s age

(01:00:29) Underwriting deals & what happens post close

(01:06:15) Biggest challenges going forward

(01:07:54) Financing

(01:10:30) Target returns

(01:12:44) What is your favorite hotel?

(01:14:21) Twitter’s role in raising capital