Collecting Keys - Real Estate Investing Podcast EP 18 - Oil Spill at the AirBNB
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Oil Spill at the Airbnb
Episode 18 Show Notes
What do you do when your Airbnb rental’s oil furnace springs a leak? In this episode of the Collecting Keys Real Estate Investing Podcast, we share the catastrophic story of how an oil furnace flooded our new Airbnb rental and what we did about it. We also talk about interest rates and how they could affect the housing market in 2022. Plus, we highlight the best way to work with difficult sellers, the biggest change investors will need to make in 2022, and why you should adjust your offers, especially if you’re doing BRRRR investments.
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Key Points From This Episode:
- The reality of property ownership: The good, the bad, and the ugly. [00:36]
- How we handled the oil spill in our Airbnb & The benefits of having a property manager for your Airbnb rental(s). [03:32]
- How interest could affect the real estate market in 2022 & Why you should adjust your offers, especially if you’re doing BRRRR investments. [11:07]
- The biggest change investors will need to make as a result of rising interest rates and property prices. [16:58]
- Issues we’re facing with our new duplex investment. [22:02]
- The most challenges parts of being a real estate investor. [27:16]
- Our advice on dealing with difficult sellers. [30:17]
Tweetables:
“So now we’re faced with that in the middle of winter with no heat and the biggest problem is getting it mitigated and working with insurance before some of the pipes burst because… with no heat in an old home like that, pipes will burst.” — Dan Austin [0:06:58]
“We are building a rental portfolio as an asset and as we’re growing it, there’s going to be costs to grow it.” — Dan Austin [0:08:19]
“I think one of the biggest reasons that values have gone up so much is because people can just afford more house when interests rates are so low.” — Michael DeHaan [0:13:26]
Resources Mentioned:
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