Vacation Rental Revolution Podcast Episode 189 - Discipline & Strategic Decision Making with Drew Griffin
Jul 26, 2024
Drew Griffin, inspired by his father-in-law, shares his journey into real estate investing focusing on short-term rentals. Topics include property selection, financing with HELOCs, discipline, working with mentors, the importance of property managers, and securing five-star reviews for success in the vacation rental business.
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Drew's Real Estate Origin Story
- Drew Griffin's interest in real estate began after his father's passing and conversations with his father-in-law who had real estate experience.
- These life events helped him overcome timidity and sparked a fascination with real estate as an investment.
Long-Term View Shifts Strategy
- Drew realized short-term rental investing as a long-term strategy offers significant tax advantages like bonus depreciation.
- This caused him to shift from flipping properties quickly to owning short-term rentals for steady, long-term growth.
Involve Kids Early in Rentals
- Get your children involved in your short-term rental business to teach them financial discipline and the value of hard work.
- This hands-on involvement fosters real understanding and interest in investing from a young age.