meta_pixel
Tapesearch Logo
Log in
BiggerPockets Money Podcast

216: Finance Friday: Turning Spare Bedrooms into $1,000+ Extra Every Month

BiggerPockets Money Podcast

BiggerPockets

Education, Investing, Business

4.53K Ratings

🗓️ 23 July 2021

⏱️ 54 minutes

🧾️ Download transcript

Summary

Amanda is making a teacher’s salary and spending her weekends working a part-time job at a grocery store. She contributes to her retirement accounts, but she could be sitting on a passive income gold mine that she doesn’t realize.  Attached to Amanda’s home are a casita and a mother-in-law suite. The casita is rented out to long-term tenants and the mother-in-law suite has been used as a short-term rental for some time. But what if instead of keeping her casita as a long-term rental, she converted it into an Airbnb? Well, Amanda could potentially see a rent increase of almost 3x what she currently is renting at! With this house hacking model that Amanda is using, she’s able to get owner-occupied financing with lower interest rates and better terms. So what if she could start doing this with other houses and slowly grow a short-term rental empire? As Scott and Mindy discuss, it’s possible!  In This Episode We Cover The importance of side-income streams when you work a lower-paying job Turning extra bedrooms into short-term rental income House hacking and the benefits of owner-occupied financing  Calculating your hourly rate for different tasks and focusing on those with the highest ROI Chasing financial freedom and the importance of using time how you see fit And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Scott's Instagram Mindy's Twitter Get Tickets to BPCon 2021 Short-Term and Vacation Rental Discussion Avery Carl’s Short-Term Rental Interview Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to the Vigor Pockets Money Podcast, show number 216, Finance Friday edition,

0:05.1

where we interview Amanda and talk about expanding her short-term rental empire.

0:09.8

Having more passive jobs or work and not necessarily working 70s a week for their semi-life,

0:17.1

I enjoy everything I do, but sometimes it's too much I'm working many hours.

0:21.5

Hello, hello, hello, my name is Mindy Jensen, and with me as always is my better than a triple scoop ice cream cone co-host, Scott Trunch.

0:29.4

Alright, never a vanilla intro with you Mindy.

0:36.4

Scott and I are here to make financial independence less scary, less just for somebody else,

0:41.0

to introduce you to every money story, because we truly believe financial freedom is attainable for everyone,

0:46.4

no matter when or where you're starting.

0:48.4

That's right, whether you want to retire early and travel the world,

0:50.8

go on to make big-time investments and assets like real estate.

0:53.4

Start your own business or just get a little more freedom back into your day-to-day life.

0:57.8

We'll help you reach your financial goals and get money out of the way,

1:00.6

so you can launch yourself towards your dreams.

1:09.0

Scott, I am so excited to talk to Amanda today because she has a world of possibilities

1:15.8

opening up to her in her quest for financial freedom.

1:19.8

I think today Mindy really helped Amanda with a lot of things,

1:23.2

because I think she really came in with a certain set of expectations about where she was

1:28.2

and what her opportunities were, and I think they were much more limited in her mind

1:33.2

than Mindy, you or I, perceived them to be as we get to talking with her.

1:37.2

I think she's actually got a tremendous amount of opportunity and a lot of power

1:41.2

to make some big changes over the next couple of years, and I'm interested to see what she does.

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.