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
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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
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291: Living for FREE at 22 and Planning to Retire by 30 with Rentals w/Ryan Hughes
290: Rookie Reply: Best HVACs, HELOCs, and Using Home Equity to Buy Rentals
289: $11,000/Month with One VERY Unique Rental Property w/Garrett Brown
288: Rookie Reply: Tenant Red Flags and BEST Investor-Friendly Loans
287: From 70 Hour/Week Burnout to Getting Paid to Buy Properties w/Danielle Daly
286: Rookie Reply: Real Estate "Travel Hacks" We Use to Score FREE Vacations
285: 3 Rentals (While in College!) and Turning a Horrific House into a Cash Cow
284: Rookie Reply: What You Need to Know Before Buying Your First Rental
283: 19, Broke, and No Credit to 28 Units and Over $1 Million in Real Estate w/Caleb Hommel and Chuck Sotelo
282: Rookie Reply: Should I Switch Markets? (Why You're NOT Finding Deals)
281: Making $1,200/Month from ONE Rental After Bouncing Back from a BAD Deal w/Michael Yi
280: How to Buy a Rental Property with NO Money OR Credit w/Pace Morby
279: Making $71K on ONE DEAL After 5 Failed House Flips and Six-Figure Debt w/JP Desmet and Aaron Bihl
278: Rookie Reply: Finding Comps, Estimating Rehab Costs, and Filling Vacancies
277: Leaks, Surprise Rehabs, and the Reality of Buying Your First Rental Property w/Sara Plaisted
276: How to Get Into Commercial Real Estate Investing (For Beginners)
275: From $40K Debt to 4 Doors and Six-Figure Net Worth (In 1 Year!) w/Mike Larson
274: Rookie Reply: Inheriting Tenants, Getting Pre-Approved, and Raising Rent
273: Making $100K in 18 Months with “Misfit” Medium-Term Rentals w/David Rosenbeck
272: Rookie Reply: How to Get a DEEP DISCOUNT on Properties with Back Taxes
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