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Episode 004 - The Seven Steps to Start Up and the Real Cost Involved

costs expenses Sep 14, 2018

[00:08] Over the last two centuries, nearly 90 percent of the world's millionaires created their wealth through real estate. Here to tell you how you can ride this wave with less risk, less capital, while creating greater income is your host, best selling author and Speaker, Michelle Russell.

[00:27] Hi, this is Michelle, the master of money mindset and I'm here with podcast number four of the short term rental revenue podcast and today we're going to talk about the seven steps to a startup and the real cost involved. So I am your host, Michelle Russell. I am the master of money mindset. I have a business called the prosperity process. You can find us online at www.theprosperityprocess.com and one of the questions I get all the time is how to make money with no money and there are a lot of ways to do that. I talked about that on previous podcasts, but the one thing I wanted to do was cover the fact that I think it's better and you'll make more money if you have a little money to...

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Episode 003 - What You Need to Start Your STR Business

costs expenses str Sep 05, 2018

Over the last two centuries nearly 90 percent of the world's millionaires they have created their wealth through real estate. Here to tell you how you ride this way with less risk and less capital, about creating greater income is your host, best-selling author and speaker Michelle Russell.

Hi, it's Michelle the master of money mindset and I am here for your third episode of the short term rental revenue podcast. And today we're going to talk about what you need to get your STR started. What are the things that you need? And we talked a little bit about that before in a past podcast about you're going to need a little bit of money and the reason why is, it takes a little bit of startup cash in this business to get things started. Even if you were to find a property that you could lease out that had furniture. You're still going to usually have the first and last and a security deposit that you're going to have money for and maybe some utilities are going to require a deposit. So...

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Episode 002 - What is a STR and Why should You want to Have a Few?

str Sep 04, 2018

Show Notes & Lessons 

 

WHAT IS AN STR (SHORT TERM RENTAL)?

Most Rentals have lengthy leases, 1-2 years, where you move your stuff in.

Short Term Rentals are usually less than 30 days, most around 2-3 days to a week where you just bring a bag with some clothes.

Boarding Houses preceded hotels and BNBs have always been around in various forms.

Hotels: bed, bath, mini-fridge, same look.

STRs: can be a room or entire home, experience the culture of the entire city, travel with entire family as one but split costs to save money, homey feel.

 

Basically, an STR can be less expensive than a hotel with way more room for larger families and even some great amenities, like pools.

 

WHY YOU SHOULD CONSIDER AN STR

* A very popular & growing trend

* Locations all around the world

* The US makes up only 20% of all Airbnb's

* It's a great way to control real estate

* It can be quite lucrative

 

What if I don't own Properties?

You don't need to. You can run...

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Episode 001 - How This Podcast Came to Be & Who It's For

str Sep 03, 2018

Here are the books Michelle referenced in today's podcast. 

Please use our Affiliate Links whenever possible and help support the show.  Thank you!

 

This is episode one of the Short-Term Rental Revenue Podcast and this is your host, Michelle Russell.  Are you ready for this?

Hello and welcome everybody.   This is Michelle Russell and this is our first ever short-term rental revenue podcast. How exciting is that? Okay, let's get started. As you know, we've been doing The Prosperity process for a few years now. We've got quite a following on our blogs and our Facebook pages and all the rest.  But whenever I do seminars or I'm out speaking somewhere, people always ask me the same question.  They always ask me. “How do you make money if you don't have any money? How do you make money in real estate if you don't have money?" And the obvious answer to that is always flipping. But a lot of people just don't know how to flip and that does...

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REAL LIFE NO MONEY DOWN INVESTING

no money down Sep 02, 2018

What does “No Money Down” mean?

Money changes hands in nearly every transaction when it comes to investing, especially when investing in real estate. When you hear the term “no money down,” it usually means that none of your money will be needed or used. However, money from some other source will most likely be needed and used. OPM is a term used in investing that means Other People’s Money. The majority of “No Money Down” deals will use OPM or they will involve an almost immediate reimbursement of any money that is put in on the deal. “No Money Down” rarely, if ever, means that no money will be used for the down payment of the transaction.

Can you really invest with “No Money Down?”


Yes. Using OPM, you can invest in little or no money down deals all day long. However, these deals often require more effort and more due diligence. They may even require good credit. But sometimes, they just require a bit of effort and...

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