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: Sean@ScholasticCapital.com   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