Cody and Christian close on Robin Hood Village Resort after an insurance delay exposed a gap in their team. They built their crew around a master mentor (current owner Brandon Vuklich), on-site work campers, a wedding events team, and an insurance specialist, plus an advisory board of external experts.
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Hey YouTube, it's Cody. I'm here with Christian today and we are without mics. However, we are here with Spirit and today we're going to be talking about the Robin Hood recaps as this is episode number 5 and we're about to really start the adventure because we just signed to close out the Robin Hood Village Resort.
Now the owners are going to sign next week, so it's not closed closed, but we have everything done. It is ready to go. The owners are ready to sign. We have one more step before we get all the way through, which is what we want to talk about today. There is some learning that goes into any new adventure and And for us, the one thing that delayed us a little bit on getting it closed instead of this week, looking into next week, is insurance. Turns out it's different to insure a resort than it is multifamily.
And the problem wasn't insurance, the problem was we didn't build out the right team. Mm-hmm. We had a team member who could do insurance and they could get it done in 24 hours, always, on our apartment buildings. But we come to the end of our actual deal on the Robin Hood and turns out they couldn't get it done. It would have taken 4 weeks. And we had another insurance policy we were going to transfer from the owner to us. They canceled it the day of closing, so we called up our insurance guy. That didn't work out, and so we quickly realized we didn't quite build out the right team. So we want to share the members of a team that you should probably consider building into your org if you're going to go buy resorts.
I'm going to start with the first one, and this is for resorts, this is for multifamily, this is actually all-encompassing. You want to learn, and this has been our whole motto all the way through, you want to learn from people who've already mastered what you want to do. We did that with multifamily. We met with owners who owned multifamily. On the resort, we have one player who is fantastic at what he does. The current owner is training us exactly how to run the resort. If you've been watching the series, Cody's been living on site for a month before we even owned the darn thing, learning how to do this from the right person.
Yeah, I only had to put $1 million down to live there for a month free. Mm-hmm.
So the first person, the most important person you need, is the person who's mastered exactly what you want to do. There's gonna be some team members in that. For the Robin Hood, what do we do to actually run the campus? Like, who do we have on the team for that?
Yeah, so we've actually got a phenomenal group of people that live on site, and they are in the category called work campers. And so there's people that travel around the US, they live in very unique spots, and they work a set schedule. It's a contract, but they work a set schedule per week doing different tasks and they get free living and exchange, they get a little bit of money as well. And so we have, I want to say, 5 groups that we're building to. I think we have 4 on site right now and they're groups of 2. That's the position we were hiring for a little bit ago. We just filled that recently with a lot of help from the current ownership. However, we've got on-site people, 8 people that help us turn the cabins. They help clean all the sheets. We've got a cool laundry facility in there and if you ever come visit, I'll show you around that. But very cool facility, and they turn all the cabins, they do the landscaping, water the plants, and make sure that's a super smooth operation.
Now talking about things that we've never done before with this resort, there's a beautiful wedding venue, and we're trying to build that out. Cody, how many wedding venues have you run?
Zero.
I've also run zero. I'm not an events guy.
Yet.
Yes, I will be. What are we doing to learn that, put the right people in place for that team?
Well, we've been learning that from the other owner, Tammy, and she's been teaching us a little bit because they've been running the wedding business for quite a while now, but we're also partnering partnering, and your wife Dani is helping take over the wedding business. And we've got Brendan with property management who's right behind the camera right now.
Hey, Brendan!
Hello! Howdy! And he's helping us out because he's actually been in the photography and videography business for weddings. He coordinates those projects. So we built out the team around us that can actually go and learn from the people that have done it before and help us get into that smoothly.
We brought this up because finding the right insurance person. We actually have the right person in our org for multifamily. Yeah, I'm sure covered. Plug and play. I know how to do that process. We learned that there was another step we didn't anticipate. That's a very niche thing. Multifamily guys don't like insuring resorts. And meeting the right resort people who are going to help us take this out next week, they don't want to insure our multifamily.
Yeah, and they insure 1,200 resorts. It's incredible. And they know all the resort people. In the business. They know everybody that's a real player. And so they're going to be a great asset for us, not just for actually insuring the properties, but for getting connected with the people that can help take us to the next level in the future.
And this is a concept that the current owner of the Robin Hood has been teaching us. He calls it the board of directors. It's the people who work— they're not in your org, but they counsel you as you make decisions. As we're advancing in this space, I think we found the right person to guide us through the right insurance. And I think we have the right mentor to show us how to run our businesses. We have this for brokers. If you guys have seen, uh, Brandon Vuklich on our channel, that's my mentor for brokerage. He taught me everything I know and a lot of what Cody knows.
Yeah, Brandon's freaking awesome. He's one of the top players in the space.
But for every new adventure you do, whether it's a resort like this one, whether it's multi-family, whether you're starting a, uh, a vending machine business— I mean, whatever you want to do, build the right team, find the master in your space. Know the first time you do it you're just definitely not going to do it right. And just learn who do I need to add to my team to quickly let me progress to the next level.
And to wrap up the video, just know that we've been doing Robinhood recaps because we've been recapping the things we've been learning. But now that we're actually going to be owners starting next week, we're going to be taking a lot more videos of the actual campus, what's going on in real time, because we haven't been able to actually do that as owners yet. We haven't been owners yet, so We're ready to rock and roll, and stay tuned for more episodes.
Perfect. Like, subscribe, share this with a friend, and we will see you guys next Saturday at 2.
