410 | Short-Term Rentals on the Path to FI | Kelly Cronin
ChooseFI
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Short Term Rentals
For a $100,000 property, you should be getting 1% of that in gross rent every single month to fit this kind of very loose rule. And it's funny because a lot of people listening to this might kind of like recoil saying, oh, 1%, it's impossible based on the local neighborhood or where your home is. But again, so this is 1% of, like you said, the purchase price plus any renovation. For example, our Utah house, which is an unfortunate another story, but we bought it for 17,000, we were looking at adding an additional 5,000 in terms of renovations and things like that. We were looking at $200 a night
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