• #366: How We Make $140K/Year with One Rental Property

  • Oct 21 2024
  • Length: 52 mins
  • Podcast

#366: How We Make $140K/Year with One Rental Property

  • Summary

  • ⭐ Join Rental Property Mastery, my community of rental investors on their way to financial freedom: http://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

    🔗 Episode Links:

    • Get Joe's Short-Term Rental Tech Stack:
      https://www.coachcarson.com/strtech
    • Book your Stay in Kalispell, MT:
      https://book.switchbacksuites.com

    🔗 Connect with Joe:

    • 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

    🖥️ My Real Estate Courses:

    *FREE COURSE* Find Your Focus in Real Estate for Beginners:
    https://www.coachcarson.com/fyf

    30 Days to a Better Rental Investor:
    https://www.coachcarson.com/30days

    Creative Financing for Real Estate Investors:
    https://www.coachcarson.com/creativefinancing

    My Books:

    📘 The Small & Mighty Real Estate Investor

    📙 Retire Early with Real Estate

    https://www.coachcarson.com/books-pod

    👋 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

    🌐 For everything else: https://www.coachcarson.com

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