FF113 From Accidental Landlord to $7K/Month Revenue On One Property: Nicole Bansal’s Deal Criteria

Are you ready to level up your real estate game? In this episode of The Landlord Diaries, we sit down with Nicole Bansal, a San Diego-based investor who went from accidental landlord to a seasoned real estate strategist. Nicole shares her 3-step process for defining your buy box (buying strategy) and identifying investment properties that both appreciate in value and generate cash flow.

Nicole’s strategy led her to invest in a 4-bedroom, 2-bath hybrid property in Savannah, GA, which perfectly fits her buy box criteria—properties under $500K, in growing communities, and with strong equity potential. Tune in to learn about how Nicole is making $7,000 per month in revenue on one property, the power of mid-term and short-term rentals (MTR/STR), using AI tools like ChatGPT for city research, and how data-driven platforms like AirDNA and Furnished Finder can help pinpoint profitable neighborhoods.

0:00 Intro- Welcome to The Landlord Diaries

2:20 How do you become an accidental landlord?

3:40 Real estate mistakes lead to a clear buy box

6:50 What is a real estate buy box?

7:20 Strategic decisions when considering your buy box

9:30 3 ways Nicole breaks down her buy box

• Personal Goals
• News Updates
• 3 main tools including Furnished Finder data

9:55 Nicole’s personal deal criteria

• Increase in equity/appreciation
• Real estate wealth over monthly income need
• Growing communities
• Less than $500k purchase price

11:55 Use AI tools like ChatGPT to research cities that fit your strategy

• Population growth
• Landlord friendly laws
• Large tourism industry

12:45 Why STR/MTR hybrid properties were part of Nicole’s portfolio strategy

15:55 It’s really hard to cash flow with long term rentals, shift to mid term now

17:50 Why are you waiting to enter the market?

18:45 Deep dive on the data side: Finding the right STR/MTR property

• Furnished Finder map
• AirDNA
• Rabbu (completely free to use)
• Chat with Furnished Finder landlords

23:15 How Nicole finds neighborhoods w/ the highest rents on Furnished Finder

27:00 Amenities can be really important so don’t skip that part of your research

28:30 When purchasing an investment property, a spreadsheet is a must

29:55 Real estate partnerships can keep you on the right track

29:50 Host Katie & Kelly share their buy box strategies

32:45 You don’t always have to do a bunch of research to get started

34:30 Nicole’s epic midterm purchase in Savannah, GA

37:00 Nicole hit the 1% rule with MTR: $7,000 in monthly revenue on one property

43:05 Katie’s most interesting tenant type yet

44:00 Nicole & Katie share a love for all things marketing

45:35 Canva’s AI tool can transform your property photos

46:30 AI prompts for your property descriptions

Website Links:

https://www.furnishedfinder.com/ 

https://www.furnishedfinder.com/stats 

https://www.furnishedfinder.com/members/profile?u=nicole.bansal 

The Landlord Diaries is brought to you by Furnished Finder, where you can list your property for one low price and pay zero booking fees.