337: $12K/Month from 4 Rentals: How to TRIPLE Your Revenue by “Reinvesting” w/Zoey Berghoff

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 8 November 2023

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

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Summary

Raking in twelve thousand dollars each month from only four rentals might seem like pie in the sky, but that’s the power of investing (and reinvesting!) in short-term rentals. Find the right market and property, and you can charge a premium for an unforgettable guest experience! Welcome back to the Real Estate Rookie podcast! Today, we’re chatting with Zoey Berghoff, an investor who earns a significant amount of income from a small real estate portfolio. While other investors might use their profits to buy more properties, Zoey bucks conventional wisdom by reinvesting those profits back into her rentals—a move that has not only boosted her booking numbers but also allowed her to charge more for her unique stays. But that’s not all Zoey is doing to maximize her profits. By “land hacking,” she creates multiple income streams on one property while keeping her rental property expenses down. What does it take to succeed in the short-term rental space? Stick around and find out! In addition to maximizing Airbnb profits, Zoey talks about how to approach new builds—from assembling the right team for the job to getting your county on board. Finally, she highlights the importance of setting reasonable expectations for your Airbnb guests—even if it means narrowing your pool of potential guests! In This Episode We Cover: The power of reinvesting your profits back into your real estate portfolio Lowering your overhead costs through land hacking How to assemble the ideal team for your short-term rental build Getting your county to sign off on your new build or home renovation project How to analyze a unique rental property (when there are no comps!) Creating a unique guest experience that makes your rental stand out Things you MUST include in your short-term rental description And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast 10 Income Streams on 1 Property by “Land Hacking” w/ Andrew Kai Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio w/ Chad Carson $11,000/Month with One VERY Unique Rental Property w/ Garrett Brown Connect with Zoey: Zoey's Instagram Zoey's Website Check the full show notes here: https://www.biggerpockets.com/blog/rookie-337 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is real estate rookie episode 337.
0:05.0	My name is Ashley Kerr and I am here with my co-host Tony J Robinson.
0:10.0	And welcome to the real estate rookie podcast
0:12.0	where every week,
0:13.0	twice a week we're bringing you the inspiration, motivation,
0:15.6	and stories you need to hear to kick start your investing
0:17.5	journey.
0:18.2	And today, we've got an amazing episode.
0:20.5	Like I feel like this episode could have gone on for hours.
0:23.4	We've got Zoey on the podcast with us today and she's going to be talking about
0:26.9	glamping about yurts about unique stays about land hacking and all these different
0:31.4	strategies that you might not know about but
0:33.4	there are great ways to break into the world of real estate investing and
0:36.6	really position yourself as a solid Airbnb host. So she ended up living part-time in
0:41.9	something which was not technically a house, and when she no longer needed to live there anymore, she decided, let's turn this into a short-term rental and it ended up being more successful than
0:56.4	she could have imagined to happen to her.
0:59.9	And then we're going to go on and talk about her focus on unique experiences. And towards the end of the end of the episode,
1:05.0	she'll give us a list of the top,
1:09.0	I think there's maybe five things
1:10.4	that you need to put into your properties
1:13.1	to consider them unique.
1:14.4	And when she says these things,
	...

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