579: The Secret Sauce Behind Short-Term Rental Success (Part 2) w/Rob Abasolo
BiggerPockets Real Estate Podcast
BiggerPockets
4.8 • 16.5K Ratings
🗓️ 6 March 2022
⏱️ 55 minutes
🔗️ Recording | iTunes | RSS
🧾️ Download transcript
Summary
You can build wealth with short-term rental investing quite easily. All you need is a great location, a solid property, a good strategy, some phenomenal cleaners…wait maybe it isn't all that easy. But it’s certainly doable if you’re willing to put in the time, effort, and work to make your vacation rental stand out from the rest. This is exactly what investorsDavid Greene and Rob Abasolo are doing with their current partnership—buying luxury homes and turning them into once-in-a-lifetime getaways for wealthy vacationers.
But maybe you’re not ready to drop a few million on a multifamily mansion. Even so, you can still make a phenomenal return in the short-term rental space, you just need to know how to do so. Back in episode 578, David and Rob walked through the first three steps in their short-term rental success strategy. Steps like finding a short-term rental market, choosing your location, and defining your strategy.
In this part two episode, David and Rob walk through the more granular steps to getting your vacation rental up and running. Steps like what property type works best for which investors, understanding your timeline so you can build wealth while obtaining financial freedom, and divvying up work between you and your partners (or investors). Follow all five (six) steps in this episode, and you’ll be on your way to cashing in the profits from your vacation venture!
In This Episode We Cover:
The four main types of short-term rental properties and the benefits of each
How to mitigate your investing fears so you and your partners can move with confidence
Understanding not only your cash flow goals, but your long-term equity goals as well
Laying out clear roles and responsibilities for each partner in the investment
How to cautiously bring in outside investors on your vacation rental deals
And So Much More!
Links from the Show
BiggerPockets Rental Property Calculator
BiggerPockets Podcast 578: The Secret Sauce Behind Short-Term Rental Success (Part 1) w/Rob Abasolo
Robuilt YouTube Channel: This is exactly how much your property will make on Airbnb
Check the full show notes here: https://www.biggerpockets.com/blog/real-estate-show-579
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Transcript
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| 0:00.0 | This is the bigger Pogas podcast show, 5.79. |
| 0:05.4 | Most of the properties that I've purchased have been, |
| 0:08.0 | I mean, you know, sub $500,000. |
| 0:10.7 | But now, as my time has grown, you know, more rare, I suppose, |
| 0:15.2 | I'm really not looking to acquire real estate |
| 0:17.0 | that's less than a million dollars in the short-term rental game. |
| 0:19.4 | And then we start looking at the deal that you and me are looking at. |
| 0:22.2 | That's a $3.4 million luxury home. |
| 0:24.4 | What's going on, everyone? |
| 0:25.3 | It is David Green. |
| 0:26.1 | You are host of the bigger pockets real estate podcast. |
| 0:29.1 | The podcast where we teach you how to find financial freedom |
| 0:32.1 | through real estate. |
| 0:33.4 | So if you're looking to have a better life to have more freedom, |
| 0:36.1 | to have more control, to build your own destiny |
| 0:38.7 | instead of someone else's, you, my friend, |
| 0:40.7 | have found the right place to be. |
| 0:42.7 | If you don't know who we are, |
| 0:44.7 | bigger pockets is a company with over 2 million members |
| 0:47.7 | who sole purpose is to help you. |
| 0:49.7 | And then we have a lot of people who are in the same business, |
| 0:52.7 | who sole purpose is to help you find financial freedom through real estate. |
... |
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