Real Estate Investing with Coach Carson

⭐ Join Rental Property Mastery, my community of rental investors on their way to financial freedom: https://www.coachcarson.com/rpm 🎙️ Episode #366 – Curious how a single Airbnb can pull in $140K a year? Joe and Katie transformed an underperforming property into a thriving short-term rental. From securing the deal and navigating construction setbacks to delivering top-notch guest experiences, you'll learn the strategies that turned their challenging first year into a $140K success! ▶️ Next Episode: House Hacking Guide https://podcasts.apple.com/us/podcast/the-house-hacking-guide-how-to-hack-your-housing-live/id1448707654?i=1000428608108 📄 Show Notes: https://www.coachcarson.com/airbnb140kyear/ 🎬 Timestamps: 00:00 - Initial Property Purchase and Remodel Costs 09:21 - Challenges and Cash Flow in the First Year 11:18 - Expanding Their Target Rental Market 12:13 - Airbnb and VRBO for Short Term Rentals 13:09 - Google Reviews for Growing Your Business 14:56 - Hospitality and Design Elements 30:29 - Increasing Value of the Property 33:42 - Partnership Structure and Benefits 39:36 - The Future of Switchback Suites 47:57 - Advice for Aspiring Real Estate Investor 🔗 Show Links: Get Joe's Short-Term Rental Tech Stack: https://www.coachcarson.com/strtech Book your Stay in Kalispell, MT: https://book.switchbacksuites.com Switchback Suites on Instagram: https://www.instagram.com/switchbacksuites/ Joe on Instagram: https://www.instagram.com/joe_r_jimenez/ Joe's Previous Episode: "How We Turned an 8-unit Building into a Cash Flow Machine in 6 Months" https://youtu.be/WHO9iA1RZW0 -------------------------- ⚒️ Get my FREE Real Estate Investor Toolkit: https://www.coachcarson.com/toolkit-pod 🖥️ Learn with Coach (Courses, Books & more): https://www.CoachCarson.com 👋 Connect with Me: 📸 https://www.instagram.com/coachchadcarson 👍 https://www.facebook.com/coachchadcarson 🐦 https://twitter.com/CoachChadCarson 💰 DealMachine – Software to help you buy more real estate deals: https://www.coachcarson.com/dealmachine

Scott Dixon, a rental property owner and popular YouTuber behind Everyday Home Repairs, shares vital plumbing insights that every landlord should heed. He recounts a nightmare scenario where a minor kitchen leak spiraled into a $15,000 asbestos disaster. The discussion highlights essential maintenance tips for basements, crawl spaces, and older plumbing systems. Scott emphasizes proactive measures and tenant communication to prevent costly repairs, along with the importance of having a comprehensive maintenance checklist for a stress-free rental experience.

In this insightful discussion, Darius Keller, a real estate investor from Pontiac, Michigan, shares his remarkable journey from starting with just $10,000 to owning nine rental properties in six years. He dives into the creative financing strategies that helped him thrive during economic downturns. Darius emphasizes the importance of hands-on learning and mastering DIY renovations, reveals opportunities in undervalued neighborhoods, and discusses the challenges of tenant management while maintaining rental income.

Aaron, a new dad and former concert organizer, shares his inspiring transition to real estate investing, building a portfolio of 8 rental properties while navigating long distances. He discusses how his music industry skills helped him overcome challenges and the strategies that fueled his growth. Aaron reflects on the importance of due diligence in remote investing and lessons learned about property management. His journey highlights the blend of personal growth and financial independence, all while balancing family life.

Kelli, a savvy real estate investor, shares how she and her husband transformed a distressed property into a profitable rental, leveraging a $223K HELOC. They discuss innovative budgeting strategies, overcoming challenges like mold and water damage, and successfully executing the BRRRR (Buy, Rehab, Rent, Refinance, Repeat) method. Kelli highlights the importance of hands-on skills and effective negotiation tactics in navigating the competitive property market, providing valuable insights for aspiring investors.

Doctor Louis Stone, a pivotal mentor in real estate, shares insights on shaping successful careers. He and Chad discuss their journey from Clemson University, highlighting the importance of mentorship in navigating challenges. Key topics include the '4Fs' strategy for investment success and the shift from earning through labor to strategic investing. Louis emphasizes the balance between business relationships and personal well-being, advocating for a focused approach to wealth building and the power of community support in real estate.

Discover the inspiring journey of house hacking a four-plex that led to an impressive $358,000 gain over 18 years. Learn about the creative financing strategies and relationship-building with lenders that paved the way for success. Unpack the transformation of a distressed property into a profitable rental, including key renovations and management insights. Delve into financial returns, analyzing cash flow, appreciation, and future projections of the investment. Perfect for those eager to explore real estate opportunities!

This discussion challenges the belief that LLCs are essential for small-scale real estate investors. It tackles common misconceptions, highlighting that new investors may benefit more from focusing on foundational knowledge than complicated legal structures. The hosts explore various strategies for personal liability protection, emphasizing proactive property management and insurance over forming an LLC. Listeners will discover a more nuanced approach to asset protection and the importance of tailoring strategies to individual circumstances.

Jaren, known as Finance Cowboy, turned his life around from $100K in debt to owning 22 rental properties worth $2 million. He shares his journey of overcoming financial hardship and the crucial role of networking in real estate. Discover how the BRRRR method helped him expand his portfolio and the importance of creative financing. Jaren emphasizes the value of time flexibility and offers insights on navigating today's market challenges. His story inspires others to pursue financial independence through smart investing.

⭐ Get my coaching & community to achieve financial freedom → https://www.coachcarson.com/rpm-podcast-357 ⚒️Get my best investor tools for FREE → https://www.coachcarson.com/toolkit-podcast-357 ▶️ Next Episode: How to Analyze a Rental Property (No Calculators or Spreadsheets Needed!) https://youtu.be/ExFWAYXr11s EPISODE NOTES: 🎬 Topics Covered: (0:00) - Gaining Financial Freedom Doesn't Have to Take So Long (00:55) - Finding Your Number that Defines Your Financial Freedom (05:16) - The Number of Properties to Have Financial Freedom (09:07) - The 4 Steps Towards Your Financial Freedom (18:18) - How to Analyze a Rental Property 🎙️ Episode #357 - Achieving financial freedom requires a massive portfolio of rentals and decades of effort is a myth. Here's a step-by-step plan to build wealth with just 5 small and simple rentals instead. 📄 Show Notes: https://www.coachcarson.com/10simplerentals/ ADDITIONAL RESOURCES 💵 Need Investor-Friendly Financing? This is who I trust → https://www.coachcarson.com/bryan 💰 DealMachine – Software to help you buy more real estate deals: https://www.coachcarson.com/dealmachine-YT