How to Learn About Short-Term Rentals (STRs)
Adulting Is Easy
by Adulting Is Easy (Lauren)
1y ago
So you're interested in real estate investing, particularly short-term rentals? That's great! I myself own and manage 8 of them, so naturally people ask me how to learn all the time. I've listed what you should do in order of ambition, from low to high. Listen to Adulting Is Easy Podcast Episodes: - Episode 125: Getting Started in STRs and Getting Direct Bookings - Episode 118: STR Regulations - Episode 112: STR Setup - Episode 106: Syndicating STRs - Episode 85: #WealthWednesday: STRs How to listen: - Spotify: https://open.spotify.com/show/4QV9qt9oBOyIbO4xArED1x - Apple: https://podcasts.app ..read more
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When Investing, Know Thyself
Adulting Is Easy
by Adulting Is Easy (Lauren)
1y ago
If you’re around my age (32), for most of your adult life you’ve known a growing economy, a rising stock market, and increasing home prices. You know logically that good times don’t last forever. Deep down, you know corrections, bear markets, and recessions are in your future. You’ve heard that any given year, 80% of active managers (whose literal job it is to invest people’s money) lose to the market every year (according to CNBC), and that the remaining ~20% probably won’t beat it the following year. Definitions and Statistics: Correction: market decline of more than 10%, but less than 20 ..read more
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5 Most Popular Adulting Is Easy Interviews of 2022 (So Far)
Adulting Is Easy
by Adulting Is Easy (Lauren)
1y ago
It’s halfway through 2022, so let’s check in and see what the most popular podcast interviews are: 5. Episode 60: Using Side Hustles to Fund Real Estate If you day job doesn’t pay the big bucks, you can still buy real estate. Learning how Tom Brickman aka the Frugal Gay flipped bras into condos – and how you can, too. 4. Episode 44: Coast FI with Jessica from The Fioneers There’s such a thing as having enough saved for retirement and only needing to fund your lifestyle from now until then. Listen to learn how. 3. Episode 92: Laying the FI Foundation in Your 20s with FI Squirrel Lay your founda ..read more
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Steps to Take When Working with a Contractor
Adulting Is Easy
by Adulting Is Easy (Lauren)
1y ago
In 2020, my husband and I bought a home built in 1901. Although the home was relatively well-kept, it still needed a lot of work: roof, kitchen, structure, insulation, floors, siding, paint, yard, fence, and more. Here are the steps we’ve learned to take when working with a contractor. 1. Referrals and/or References If you have a home improvement project in mind, do you know who you want to hire to do it? If not, you probably know someone who has hired a company to work on their home. Ask around. If the company did a great job on a similar project for a friend or family member, they would prob ..read more
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6 Things I Wish I Knew About Short-Term Rentals Before I Started
Adulting Is Easy
by
1y ago
I started my short-term rental (STR) business (on Vrbo and Airbnb) with 2 cottages in my back yard and a camper (with utilities) in my driveway in January 2021. Now, I have a total of 8 short-term rentals that I own and manage myself. I’ve learned a lot along the way, but here are the 6 things I really wish I knew before I started: 1. STRs are a cross between real estate investing and hospitality When I set out on this journey, my goal was to expand my real estate portfolio, to become a true real estate investor. I was looking for cash flow and appreciation. Naturally, short-term rentals offer ..read more
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Real Estate Secrets
Adulting Is Easy
by Adulting Is Easy (Lauren)
1y ago
Each and every Wednesday at 9:00 pm eastern, the #WealthWednesday team (Clint, Tom, Stephen, and Lauren) get together and discusses wealth building strategies. Often, the focus is real estate, as was the case last week. We invited Mary along, a real estate pro who has amassed 10 doors in the last 2 years and has another under contract. The group shared some real estate secrets: Put favorable terms in your offers Pay cash Short inspection period Increased escrow Don’t be loyal to one realtor, i.e. don’t be afraid to call and use the listing agent. Find listings created by bad agents. You’ll ..read more
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Getting Started in Real Estate
Adulting Is Easy
by Adulting Is Easy (Lauren)
1y ago
Yes, I started investing in real estate in 2012. Yes, things are different now. Does that mean you shouldn’t start AT ALL? No. Let me tell you what I would do if I were in your shoes and looking to start in 2022. 1. Stay (or Become) Frugal for a Few Years When we were in college (or were college-age), we were more frugal than we are now. I’d be willing to bet you spent less going out to nice dinners then than you do now. If you are young, stay frugal a little longer than you have to. Don’t give into to lifestyle creep yet. Don’t pay big rent and a high car payment. Drive a sensible used car. L ..read more
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Real Estate Portfolio Update
Adulting Is Easy
by Adulting Is Easy (Lauren)
1y ago
It’s been about 6 months since I’ve done an update, and we’ve had some changes. Here’s how our 8 short-term rentals and 4 long-term rentals break down. 1. Bed & Breakfast In early 2020, we owned a primary home and a duplex. We were looking for another rental property and had been making offers to no avail, constantly getting beat out by cash offers. I suggested house hacking to my husband, which means buying a property to live in that also has portions that can be rented out. My husband relented when I explained that we could basically get rid of our mortgage payment. We bought a property ..read more
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How to Get A Property Under Contract Step-by-Step
Adulting Is Easy
by Adulting Is Easy (Lauren)
1y ago
Last night on our weekly #WealthWednesday Twitter Space, we talked about how to get your first deal under contract. Here are some of the tips the pros shared. (Recording to be available soon.) 1. Educate Yourself It only takes a few months to learn more than the vast majority of people know about real estate investing. Join Facebook groups and Twitter Spaces to connect with others. Buy business cards and hand them out. Offer to help local real estate investors with their properties to earn the chance to learn from them. Read books and listen to podcasts, especially those put out by BiggerPock ..read more
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House Hacking: Eliminate Your Living Expenses and Supercharge Your Wealth
Adulting Is Easy
by Adulting Is Easy (Lauren)
1y ago
What is house hacking? So much of my content, especially on Twitter, references house hacking making this by far my most frequently asked question. House hacking is when you buy a property, live in one part of it and rent another part out. Why would you want to house hack? Whether you have a budget or not, you probably know what your top two or three expenditures are. For most Americans, it’s housing, transportation, and food. House hacking allows you to greatly decrease or eliminate your housing expense. Examples Duplex, Triplex, or Quadruplex: Buy a small multi-family, live in one of the un ..read more
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