How to House Hack Your AirBnB for Maximum Profits | Andres & Kelly Ospina
Nov 21, 2024
auto_awesome
Andres Ospina, a real estate investor with over 70 rental properties, and Kelly Gomez, an Airbnb expert focused on corporate rentals, dive deep into innovative strategies for maximizing profits. They share insights on house hacking and the transition to corporate housing amid regulatory changes. Their discussion spans from the benefits of wholesaling vs. rentals to the importance of eco-friendly housing. Emphasizing community building and sustainable practices, they reveal how meaningful purpose can drive success while maintaining work-life balance.
Andres and Kelly's innovative house hacking strategy involves converting single-family homes into multifamily units, significantly increasing rental income and addressing local housing demand.
Their transition from short-term rentals to corporate rentals not only catered to market changes and regulatory challenges but also provided more consistent occupancy and income stability.
The couple's commitment to sustainable development aims to create eco-friendly communities that promote healthy living while blending profit with social responsibility in their business strategy.
Deep dives
Innovative House Hacking Strategy
The guests share their unique approach to house hacking by converting single-family homes into multifamily units. This process often involves repurposing garages into separate studio apartments and splitting existing homes into dual units. By doing this, they have been able to maximize rental income from each property, transforming 3-bedroom houses into 3 separate rental units. This innovative strategy not only increases cash flow but also addresses housing demand in their area, mainly through short-term and mid-term rental models.
Shifting to Corporate Rentals
Initially focused on short-term rentals through platforms like Airbnb, the guests transitioned to corporate rentals due to increased competition and regulatory challenges. In response to regulations limiting daily rentals in Orlando, they adapted their business to cater to corporate clients, including medical workers and construction crews, who typically need accommodations for longer durations. This strategic pivot has resulted in more stable occupancy rates compared to short-term stays, as corporate rentals allow for more consistent, month-long leases. By aligning their rental strategy with the market demand during and post-COVID, they found a lucrative niche that boosted their income.
Financial Insights and Income Potential
The guests provide detailed financial insights into their rental properties, emphasizing impressive earning potential. They typically convert single-family homes to generate gross monthly incomes ranging between $5,000 and $7,000, significantly higher than neighboring properties that might rent for only $2,500 to $3,000. Costs associated with these properties generally average around $3,000 per month, leading to a net income of approximately $1,500 after expenses. Such financial figures indicate the high profitability of their house hacking model, underscoring its effectiveness in the current real estate landscape.
Expanding into Development and Sustainability
The guests are not only focused on rentals but are also venturing into property development, aiming to create eco-friendly living spaces. They plan to develop new properties that incorporate sustainable practices, such as using bamboo for construction and incorporating solar energy features. This focus on sustainability goes beyond mere construction; they aspire to build communities that support healthy living through food production, wellness, and spiritual well-being. Their development projects reflect a broader vision that seeks to harmonize real estate with a positive impact on the planet and its inhabitants.
Vision for the Future and Community Impact
The guests articulate a grand vision aimed at combining profit with social responsibility. They emphasize the importance of building communities that promote regenerative living practices and address societal issues, such as mental health and environmental degradation. Their approach reflects a belief that true fulfillment comes from creating positive change and leaving a legacy for future generations. By actively pursuing projects that serve both financial goals and community needs, they illustrate how a successful business can also be a vehicle for meaningful impact.
Today, I’m diving into the inspiring journeys of two remarkable entrepreneurs: Andres Ospina and Kelly Gomez. Andres is a real estate titan with over 70 rental properties under his belt, while Kelly is a real estate advisor and Airbnb host!
Get ready to uncover the secrets to their success as we explore the dynamic world of real estate. They’ll share how they broke into the industry, the game-changing strategies that skyrocketed their profits, and what it really takes to build a killer portfolio. From corporate rentals to the future of interest rates, we’re covering it all!
But it’s not just about the dollars and cents. Andres and Kelly highlight the profound purpose behind their investments and how they’re making waves in sustainable community building. We’ll dive into hot topics like rising insurance costs and the booming world of affiliate marketing, arming you with the knowledge you need to dominate this competitive landscape.
This episode is a powerful reminder that building a thriving business doesn’t mean sacrificing family or faith. It’s about achieving that elusive balance and living life on your own terms.
So, plug in and get ready for a high-energy conversation packed with inspiration and practical insights.
Connect with Andres and Kelly: Kelly's IG: https://www.instagram.com/kelly_airbnbexpert/ Andres' IG: https://www.instagram.com/andres_airbnbexpert/ YouTube: https://www.youtube.com/@UCpKH0k1SY1v5cFzYH3BTa0w Website: https://ecologicteam.net/
Join our FREE community, weekly calls, and bible studies for Christian entrepreneurs and business people. https://www.wealthykingdom.com/
If you want to level up, text me at 725-527-7783! ---
About Ryan Pineda:
Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue.
Ryan has amassed over 2 million followers on social media and has generat...
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
