The Basics: Buying Short Term Rentals

The Stacking Benjamins Show

Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP

Business, Financial Planning, Cfp, Education, Personal Finance, Retirement, Investing, Money

4.4 • 2K Ratings

🗓️ 16 March 2022

⏱️ 62 minutes

🔗️ Recording | iTunes | RSS

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Summary

Have you ever looked at your futon in your kitchen and thought, "Hey, I think I will rent that out to a stranger?" Believe it or not, our guest today, Avery Carl, has some friends who did exactly that. It gave her the idea to invest in short-term rentals as a stepping stone to building a more extensive real estate portfolio. Joe and Avery discuss having an income to support lending criteria, the pros and cons of property management, and how she strategically invested in mature vacation rental markets to scale her portfolio.

Worried about scams? Today in our headline segment, Joe and OG discuss a piece about a former car salesman who allegedly got caught in an elaborate scam buying back leased cars. Also, they discuss a Netflix documentary about the Tinder Swindler and how he thinks his scam was a "successful business." We throw out the Haven Life line to Amanda and congratulate her on paying off her debt.

And, of course, we will enlighten your day with Doug's famous trivia.

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Transcript

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0:00.0	I mean, you're living in your mother's basement right in the blog on finance.
0:03.9	Really, you should stay off the computer, son, and get a job.
0:07.4	Seriously.
0:13.0	Live from Joe's mom's basement, it's the Stacking Benjamin show.
0:18.3	Yeah. stacking Benjamin's show.
0:31.0	I'm Joe's mom's neighbor, Doug, and is there a stranger in your house?
0:38.2	There might be if you're one of the millions of people making short-term rentals out of their home to stack a few more Benjamin's.
0:41.3	It might even be time for me to hop on that train.
0:47.0	Today, to show us how it works, we welcome the author of Short-Term Rental, Long-Term Wealth, Avery Carl.
0:49.0	In headlines, yet another scammer at work, this time, at your car dealer?
0:54.0	We'll share an elaborate one today.
0:56.3	Then, we'll throw out the Haven Lifeline to Amanda, who hit a huge milestone.
1:01.8	And I'll also check in with my trivia.
1:04.9	And now, two guys who will serve as your hosts in House of Benjamin's Joe and O Jujit, Jujit, G.
1:15.7	They say money doesn't grow on trees, but imagine if your house had Benjamin Walls.
1:20.9	Hey, everybody, welcome to Wednesday. I'm Joe Salsi. Hi, average Joe Money. I am super happy to welcome you to Hump Day and also to guide you into the second half of the week.
1:33.0	We're all rolling toward the weekend as of right now. And the dude who's leading this charge toward the weekend because he's ready for it today.
1:41.7	It's Mr. O.G. How are you, man?
1:44.9	On the road again.
1:47.1	Can't wait to be on the road again.
1:48.2	Absolutely.
1:50.4	I am actually not in the basement.
	...

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