24 min
Ep. 78 - Maximizing Profits through Short-Term Rental Investments The Art of Winning
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- Entrepreneurship
In today's The Art of Winning episode, our host Ashton Levarek shares his journey of creating multiple income streams through short-term rentals. He explains how Airbnb can be a great way to make passive income, profiting/netting $70-100k annually from 1-2 Airbnbs. Ashton suggests using tools like AirDNA to calculate the gross potential income and dividing it by the average purchase price to determine if a market is worth investing in. He offers tips on making a rental more attractive to guests and outlines various automation tools and apps that can be used to manage properties remotely with less than one to two hours of work per day. Investing in real estate through Airbnb can be a great way to generate passive income and retire early, significantly since short-term rental demand is increasing every year. To learn more about Ashton, listeners can visit his website at Valkere Investment Group!
[00:00 - 11:08] Creating Multiple Streams of Income
· Ashton discusses how to create multiple streams of income with short-term rentals.
· Creating multiple income streams is a great way to achieve financial independence and freedom.
· The desire to spend more time with family can motivate one to seek alternative income sources.
· Real estate investment can provide a steady income stream and replace a traditional W2 income.
· The demographics of short-term rentals differ from those of workforce housing, making them a unique investment opportunity.
[11:08 – 22:10] Maximizing Your Short-Term Rental Investment
· Good markets to invest in are typically on the fringe with lower purchase prices but still within the commuter range of prominent attractions.
· Investing in these markets provides a better return on investment despite the lower average daily rate.
· Most short-term rentals are owned by mom-and-pop owners who don't run their rental like a business.
· Short-term rental is not passive income but can be managed for 1-2 hours a day using Automation and apps.
· A property management company can be hired for passive income, but it comes with a fee of 15-30% of the profits.
· Automation and apps can be used to send out emails and notifications to guests.
· Investing in short-term rentals in Hawaii, San Francisco, or New York is not ideal for those trying to replace their W2 income.
· Investing in the fringe of these areas and tertiary markets provides a better return on investment.
Connect with Ashton!
Website: Valkere Investment Group
LinkedIn: Valkere Investment Group
Want to learn more about creating multiple income streams, wealth protection, financial freedom, or real estate investing? Join our investor club, check out our blog, get our free ebook on investing, or join us for our monthly Real Estate Investing Made Simple virtual meetup. Take the first to your wins in life and head on to http://www.valkeregroup.com.
Leave a REVIEW and SHARE this episode with someone who wants to unlock the secrets to success. Listen to other episodes on Apple, Spotify, Libsyn, or wherever you get your podcasts!
Key Quotes
"Once you strategically figure out the right market, find your asset, and have the right boots on the ground team, you can manage it with less than one to two hours a day." –Ashton Levarek.
In today's The Art of Winning episode, our host Ashton Levarek shares his journey of creating multiple income streams through short-term rentals. He explains how Airbnb can be a great way to make passive income, profiting/netting $70-100k annually from 1-2 Airbnbs. Ashton suggests using tools like AirDNA to calculate the gross potential income and dividing it by the average purchase price to determine if a market is worth investing in. He offers tips on making a rental more attractive to guests and outlines various automation tools and apps that can be used to manage properties remotely with less than one to two hours of work per day. Investing in real estate through Airbnb can be a great way to generate passive income and retire early, significantly since short-term rental demand is increasing every year. To learn more about Ashton, listeners can visit his website at Valkere Investment Group!
[00:00 - 11:08] Creating Multiple Streams of Income
· Ashton discusses how to create multiple streams of income with short-term rentals.
· Creating multiple income streams is a great way to achieve financial independence and freedom.
· The desire to spend more time with family can motivate one to seek alternative income sources.
· Real estate investment can provide a steady income stream and replace a traditional W2 income.
· The demographics of short-term rentals differ from those of workforce housing, making them a unique investment opportunity.
[11:08 – 22:10] Maximizing Your Short-Term Rental Investment
· Good markets to invest in are typically on the fringe with lower purchase prices but still within the commuter range of prominent attractions.
· Investing in these markets provides a better return on investment despite the lower average daily rate.
· Most short-term rentals are owned by mom-and-pop owners who don't run their rental like a business.
· Short-term rental is not passive income but can be managed for 1-2 hours a day using Automation and apps.
· A property management company can be hired for passive income, but it comes with a fee of 15-30% of the profits.
· Automation and apps can be used to send out emails and notifications to guests.
· Investing in short-term rentals in Hawaii, San Francisco, or New York is not ideal for those trying to replace their W2 income.
· Investing in the fringe of these areas and tertiary markets provides a better return on investment.
Connect with Ashton!
Website: Valkere Investment Group
LinkedIn: Valkere Investment Group
Want to learn more about creating multiple income streams, wealth protection, financial freedom, or real estate investing? Join our investor club, check out our blog, get our free ebook on investing, or join us for our monthly Real Estate Investing Made Simple virtual meetup. Take the first to your wins in life and head on to http://www.valkeregroup.com.
Leave a REVIEW and SHARE this episode with someone who wants to unlock the secrets to success. Listen to other episodes on Apple, Spotify, Libsyn, or wherever you get your podcasts!
Key Quotes
"Once you strategically figure out the right market, find your asset, and have the right boots on the ground team, you can manage it with less than one to two hours a day." –Ashton Levarek.
24 min