About Martin Papp:
Martin Papp is a visionary entrepreneur who develops luxury short-term rental properties in Latin America, designed for entourage living and "bleisure" travel. He is currently focused on developing 12 exclusive properties in Costa Rica.
In addition to his real estate ventures, Martin is the founder of PAPP'S TEA, a specialty tea company based in mainland China. The company supplies wholesale and retail tea to over 400 restaurants and hotels across the country and is one of China's largest kombucha suppliers. Martin's guiding philosophy is to blur the line between work and play, fully committing to excellence and curiosity in all his endeavors.
In this episode, your hosts, Jason and Scott, together with Martin Papp discuss:
- Importance of building a trusted legal team
- Leveraging local expertise and connections
- Networking with successful investors and hosts
- Embracing the "bleisure" lifestyle in real estate
- Utilizing data and technology for due diligence
Key Takeaways:
- Before even considering a property purchase, it's crucial to establish relationships with reputable real estate attorneys in the target market as they provide the legal landscape, potential pitfalls, and best practices for foreign investors.
- Seek out experienced architects, builders, and property managers who can navigate the nuances of the market and provide guidance on high-performing areas, construction costs, and operational considerations.
- Reach out to Airbnb hosts, for example, to learn from their experiences and identify promising properties or development opportunities.
- The modern real estate investor is no longer content with a traditional buy-and-hold approach, but instead, they seek to blend business and leisure, creating properties that cater to the "bleisure" lifestyle.
- Cutting-edge data tools like AirDNA provide granular insights into rental market performance, occupancy rates, and other key metrics, and combining this data with on-the-ground research and local expertise can help investors make informed decisions and mitigate risks when venturing into unfamiliar markets.
"There are a lot of places you can go to make money in real estate, but what I'm generally looking for are areas with high growth.” — Martin Papp
Connect with Martin Papp:
Website: https://www.thenovahaus.com/aboutus
LinkedIn: https://www.linkedin.com/in/martin-papp/
Connect with Jason and Scott:
Website: https://henderxcapital.com/masteryourmillions
X (Twitter): @MasterYourMs https://twitter.com/MasterYourMs
Facebook: https://www.facebook.com/groups/realestateinvestorsofutah
Instagram: @henderxcapital https://www.instagram.com/henderxcapital/
@jasonihenderson https://www.instagram.com/jason.henderson/
Email: jasonchem@gmail.com, scott@henderxcapital.com