391: The Low-Cost Way to “Invest” in Real Estate in 2024 (Without Buying Rentals) w/Veronica Garreton

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 10 April 2024

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

A thriving real estate business without rental properties?! It might sound like an easy way to “invest,” but make no mistake—you’re going to need to sharpen your management, interior design, and problem-solving skills for it to work. Fortunately, today’s guest can bring you up to speed on this low-cost strategy! Welcome back to the Real Estate Rookie podcast! In this episode, Veronica Garreton returns to the show to offer more nuggets of wisdom for new investors. In our most recent episode with Veronica, she shared how she pocketed $150,000 in profit from just ONE luxury rental property. But today, she is going to take a deep dive into the investing strategy that allows her to grow her real estate business without buying more properties—co-hosting! Of course, co-hosting, like any other strategy, is susceptible to the occasional horror story. Tune in as Veronica shares how ONE troublesome guest caused $11,000 in rental damage and how her decisiveness helped her save the day. What is co-hosting and how does it differ from property management? Why are medium-term rentals taking over short-term rentals in certain markets? How do you prevent bad reviews on Airbnb? Stick around for all of the answers! In This Episode We Cover How Veronica grows her real estate business without buying more properties The co-hosting strategy and how it differs from property management How to earn five-star Airbnb reviews by working at the “speed of luxury” Why investors are moving from short-term rentals to medium-term rentals Why you NEED an exit strategy when investing in a major metro market The “emergency” clause you MUST include in your co-hosting agreements How to furnish your short-term rental (tips from a professional interior designer!) And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-391 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 Show 391.
0:04.4	So short-term rentals are not immune from the horror stories
0:07.3	we hear about real estate investing,
0:08.8	but solving at the speed of luxury
0:11.8	may be the way to still get that five-star review.
0:14.1	Now, my name is Tony J Robinson, your host for today's podcast and welcome to the
0:18.3	Real Estate Ricky podcast where every week, three times a week we bring you the
0:22.0	inspiration, motivation, and stories you need to hear to
0:25.4	kick start your investing journey.
0:26.8	Now, we have Veronica Gerriton back on episode 384, where we discussed thinking luxury, right?
0:33.3	She shared so many great tips that we literally ran out of time
0:36.9	to get to this co-hosting horror story that she has.
0:39.0	So I brought her back to share some information so you can really hear what happened and what are some of the
0:45.4	lessons that she learned. Now Veronica has also been able to create her own real estate
0:49.9	business without actually having to own more real estate.
0:53.7	And we'll find out more about what she's doing there
0:55.9	and where she sees the opportunities this year.
0:58.4	So Veronica, welcome back to the Real Estate Ricky podcast.
1:01.2	Thank you, Tony.
1:02.0	Happy to be back. I'm excited to share this with you because it's quite the story.
1:06.0	You got you got some big shoes to feel your first episode was pretty good so we got it we got to top this one now we heard in the last episode about your luxury property out in
1:14.3	Joshua Tree and again that was episode 384 for anyone who wants to go back and
	...

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