Jay Willingham

Founder and Managing Partner, Superior Escapes | Girl Dad x2

[Jay Willingham @jaywillingham]

@HermesLux Probably Twenty One

https://t.co/pph5c1e9SL

[Jack Mallers @jackmallers]

Twenty One expects to begin trading on the @NYSE under the ticker $XXI on December 9th.

As part of the closing process, we’ll be moving our over 43,500 bitcoin out of escrow and into our custody. We’ll update our proof of reserves accordingly.

Transparency is the standard.

[Jay Willingham @jaywillingham]

@benjamincowen Nope. You must have brisket by itself. The quality of the brisket is like the BTC.D of Texas BBQ

[Pudgy Penguins @pudgypenguins]

Pengu Takeover.

[Jay Willingham @jaywillingham]

@FinanceLancelot They purchased the shares through @Forge_Global

[Jay Willingham @jaywillingham]

@nabeelqu An indicator on @tradingview that allows multipliers on Moving Averages (e.g. 200 SMA with a 1.5x multiplier). It’s a neat way to create custom channels to find tops.

[Jay Willingham @jaywillingham]

Her choice of words in describing her performance is off-putting for someone looking for a seasoned AE. Hiring managers and leadership are data driven, and "working extremely hard" is not a measurable metric. "AE Activity" is measured in # of emails, phone calls, and CRM updates. That does not mean she was having valuable conversations with clients. She had 3 deals that "decided not to close last minute", which is not a great way to communicate to someone your deal management skills. For me, that signals her inability to push her clients to "no" early in the sales cycle.

[Jay Willingham @jaywillingham]

@pitdesi @anothercohen Seem suspicious that she went from a Corporate rep to a Strat rep in 10 months at Snowlake, then was hired as a mid-market rep. That's a huge step backwards, or her use of titles (or snowflakes titles) are misleading.

[Jay Willingham @jaywillingham]

@EmirDukic I ran a quick Pro Forma for you at 7.5% mortgage, 25% down, self managing. Cap rate is fine, but I’d rather be 30%+ CoC. If you can wrap the rehab into the loan and push revenue to $110k, then it’s interesting, but it will suck to manage a property in a remote location

[Jay Willingham @jaywillingham]

OPEX doesn’t increase linearly with home price, especially anything over a 4bed. OPEX isn’t much different between a 6bed and a 8bed, but revenue can go way up,
depending on the market. But, I like 20% as a benchmark when quickly flipping through homes. Ultimately, I care most about CoC and cap rate, and I’ve built a Calculator that helps me do that in seconds.

[Jay Willingham @jaywillingham]

@rob___lev @ChrisK_STRs From your bio link, it seems you’re in the blue ridge mountains mainly? Appreciation has been crazy there despite macro headwinds. You think it’s a bubble?

[Jay Willingham @jaywillingham]

@rob___lev @ChrisK_STRs It’s a tough market right now. The place I’m looking at right now sleeps 20+ and pencils as a 14 cap, but the seller is reluctant to accept the reality of the market and is being difficult. If I go based on what they want, it’s a 12 cap, but the cash on cash is only 25%

[Jay Willingham @jaywillingham]

@rob___lev @ChrisK_STRs That’s true. Cap rate might be a better metric. I aim for 10%+. Both those places are 12%ish

[Jay Willingham @jaywillingham]

@rob___lev @ChrisK_STRs Oh nice! I do this manually now, it drives me nuts.

[Jay Willingham @jaywillingham]

@rob___lev @ChrisK_STRs Yep. Still not great. I’m close to switching. Any recommendations?

[Jay Willingham @jaywillingham]

@rob___lev @ChrisK_STRs I’d love to see your strategy. I don’t think I’ve mastered it. Ping me when this is launched.

[Jay Willingham @jaywillingham]

@rob___lev @ChrisK_STRs I’m not in popular markets, so demand isn’t unlimited. But here’s the TTM rev and occ for two of my 4bed properties. I also live in price labs. When I try to push occ over 80%, rev drops. I think it’s due to my markets. But our CoC on both is over 30%.

[Jay Willingham @jaywillingham]

@rob___lev @ChrisK_STRs It's not about being "good". I could have my places 100% occ if I wanted. There are tons of automations to prevent orphan days. The goal is to maximize revenue. I'm curious, what are your CoC return targets for your properties?

[Jay Willingham @jaywillingham]

@rob___lev @ChrisK_STRs If you're consistently 80% booked year round, then you're probably leaving money on the table.

[Jay Willingham @jaywillingham]

@ChrisK_STRs Depends on the market, size of home, etc. When I look at comps, I use annual revenue, then back in to ADR and Occupancy. If I can hit my CoC, Cap rate, and margin metrics, then I don't care too much what the Occ is.