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
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Ashley's BiggerPockets Profile
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Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
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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
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203: The Ultimate Property Management Masterclass w/Expert Property Manager Karen Lane
202: Rookie Reply: Is a Cash-Out Refinance Taxable?
201: Quitting Corporate to Build a 23-Unit Post-Pandemic Rental Portfolio w/Gus Ofili
200: Scott Trench’s 10-Step Checklist to Buy Your First Rental Property
199: Post, Invest, Profit: A Step-by-Step Guide to Content Creating for Investors w/Kerwin Donis
198: Rookie Reply: What To Do When an Appraisal Comes Back Low?
197: From the Screen to Short-Term Rentals and How "Stargirl" Started Investing w/Brec Bassinger
196: Rookie Reply: How to Use Home Equity to Buy Rentals
195: Financially Free in 2.5 Years by Buying “Low Risk” Rental Properties w/Craig Curelop
194: Rookie Reply: 19 Best Real Estate Investing Apps We Couldn’t Live Without
193: How a College Dropout Got a Seat at the Millionaire Investor Table
192: Rookie Reply: How to Choose Your Real Estate Investment Strategy
191: Expedite Retirement & Learn the Secret to Becoming a Top Producer (Quickly) w/David Greene
190: Rookie Reply: What is Due Diligence in Real Estate?
189: House Hacking: How to Live for Free and Build Wealth in The Background
188: Rookie Reply: Networking Tips That’ll Increase Your Net Worth
187: Making Twice as Much with Half as Many Doors and 100+ Flips
186: Rookie Reply: How to Close on Off-Market Properties
185: 11 Doors and Returning to Real Estate After an 8-Year Hiatus
184: Rookie Reply: Should You Rent to a Bankrupt Tenant?
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