[00:00] Over the last two centuries nearly 90 percent of the world's millionaires have created their wealth through real estate. Here to tell you how you can ride this wave with less risk and less capital while creating greater income, is your host, best selling author and speaker, Michelle Russell.
[00:22] Hi this is Michelle the master of money mindset and I'm here with Episode six of the short term rental revenue podcast and today I'm going to talk about why you should think about investing in a short term rental and why I created this podcast in order to teach you to do that. My name again is Michelle Russell you haven't listened to my previous podcast go back and do so because the really good and there's some great information in there that you're going to need when you start your short term rentals. But anyways I wanted to give you a little bit of my unique back story, how I got started in investing, where I came from, why I invested in real estate and why I turned to short...
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...
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.
* 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
You don't need to. You can run...
Here are the books Michelle referenced in today's podcast.
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...
Audible is offering a free audiobook download with a free 30-day trial to give you the opportunity to check out their service. To download your free audiobook today, go to audibletrial.com/STRRevenue or just click on the image above. Audible is a proud sponsor of the Short Term Rental Revenue Podcast.
We've got something AMAZING in store for this year's class! You won't believe all of the trainings and videos that we've added... plus
We've added interviews with some amazing experts in all areas of our business. People to help you build and grow what could potentially be the very business that carries you to financial freedom!