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!
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
Submit Your Real Estate Rookie Question!
The “Luxury” Rental Property That Brings in $150K/Year of Pure Profit w/Veronica Garreton
Wiping Out $130K of Debt in ONE Year With THIS “Steady” Real Estate Business
The Overlooked Aspect of Short-Term Rentals: Furnishing—Here’s What You Should Do
Medium-Term Rentals: How to Get BIG Cash Flow Out of Small Properties
Connect with Veronica:
Veronica's BiggerPockets Profile
Veronica's Instagram
Veronica's Portfolio
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: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
404: Rookie Reply: The Rental Property Expenses You CAN’T Afford to Miss
403: House Hacking Blunder to $2.7 Million in Small Multifamily by Doing THIS w/Sean Reischel
402: The “Domino Effect”: How to Build an Entire Portfolio from ONE Property w/Rob Schou
401: Boost Your Cash Flow in 2024 with These “Self-Management” Tips w/Amelia McGee and Grace Gudenkauf
400: Rookie Investor? Never Make This $40,000 Mistake w/Dave Meyer
399: $80,000/Year Cash Flow & Financial Freedom with 7 Properties (in 3 Years!) w/Sarah Msuya
398: 3 Steps to Buying Your First (or Next) Small Multifamily Property
397: The BEST Ways to Protect Your Rental Property and Keep Your Tenants Safe w/Eileen Daugherty
396: 5 Real Estate Deals Using Other People’s Money w/Darnell Leslie
395: Rookie Reply: Using a Car as a Down Payment (!?), ADUs, & House Hacking 101
394: The Hidden Property Damage That Could Ruin Your Home Renovation…w/Jessica Bryant Walton
393: $120K/Year from ONE “Sensory” Rental Property with a “Secret” Amenity w/Chase Charifa
392: Rookie Reply: Should I Move (and Quit My Job!) to Invest in Real Estate?
390: Making Over $10K/Month Thanks to “Conscious” Multifamily Investing w/Yiting Yang
389: Rookie Reply: How to Find a Property Manager & Set up Rentals Out of State
388: How to Save Your Cash Flow When Dealing with a “Problem” Property w/Ashley Robinson
387: The Step-by-Step Guide to Flipping Houses and High-ROI Home Renovations w/James Dainard
386: Rookie Reply: Will It Cash Flow? Analyzing BRRRRs, Hotels, & Commercial Deals
385: How to Save Your Rental Property When “Good” Tenants Turn BAD w/Chelsea Borden
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
BiggerPockets Real Estate Podcast
BiggerPockets Money Podcast
BiggerPockets Business Podcast
BiggerPockets Daily
The Real Estate InvestHER Show