Side Hustle Hero 33: Make Money In The Sharing Economy, Part 1 with J Massey
Today's guest sees "oceans of opportunity" everywhere!
J Massey was all but "retired" at the age of 38, when one of his students asked what he knew about short-term rentals. While the answer at the time was, "not very much", he started looking into the model and was astounded at the opportunities. Today J runs a 34 unit short-term rental business, and runs a training company known as Cashflow Diary, helping others to get established and grow in the industry.
In this, Part 1 of 2 episodes with J, you'll hear;
- What's now driving the short term rental market,
- The multiple income sources you can set up to create earnings over and above the nightly rent,
- How you can establish a short term rental side hustle without even owning a property,
- And other income opportunities outside of the real estate space, but in the shared economy
J also shares his "super secret" of how he bought and sold over 200 properties each in 72 hours or less, earning him between $2000 and $26,000 " per property.
You're sure to have lightbulb moments, as you listen to my conversation with today's side hustle hero, J Massey.
What You'll Hear:
03:35 Needing to eat was a strong motivation
05:06 How we talk ourselves out of moving forward
06:50 How J bought and sold properties within 72 hours…200 times
10:28 J feels is the perfect time to get into real estate
11:10 Oceans of opportunity exist today
13:35 The way real estate is being used is changing
16:40 Set yourself up so that your income is no longer tied to your labour nor a clock
17:40 Earn money from idle assets that you already own
20:00 Keep "screening, safety, and security" in the forefront when renting out your assets
21:30 View your short-term rental (STR) properties as a "distribution" service to maximize revenue
26:00 Get into the STR business without owning the properties
28:09 Dealing with pushback from landlords when trying to lease properties
30:47 How to look at the new rules, regulations, ordinances concerning STR's
Connect with J Massey:
https://www.instagram.com/cashflowdiary/
J's Short-Term Rental Blueprint Course
https://cashflowdiary.com/blueprint/
Connect with Joan:
Be on the show!