Meet Kevin provides great real estate tips, but one thing that's missing is short term rental. Here's how you benefit. Personal Finance & Investing Course (Soon) https://www.michael-curran.com/finance/join🤠MICHAEL🤠🚨🔥These are educational courses; past performance does not guarantee future results.
SOCIAL MEDIA & DISCUSSIONS
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
Rumble: / michaelcurran
Twitter / X: / profmcurran
Tik Tok: / profmichaelcurran
Instagram: / profmichaelcurran
Facebook: / profmichaelcurran
VIDEOS
▀▀▀▀▀▀
Real Estate Investing https://youtu.be/HJhWn5S1L0E
Investing ONLY Videos https://michael-curran.com/finance/allinvesting
Real Estate ONLY Videos https://michael-curran.com/finance/realestate
Trading ONLY Videos https://michael-curran.com/finance/tradingonly
Personal Finance ONLY Videos https://michael-curran.com/finance/pf
MY COURSES (SOON: COUPON CODE: MICHAEL)
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
Personal Finance & Investing: https://michael-curran.com/finance/join
#RealEstate #Investing #PersonalFinance #MichaelCurran #MeetKevin #GrahamStephan #InvestingProfessor #ProfMichaelCurran
00:00 Intro
01:10 Kevin's Strategy
"Just start" encouraged me. Start with a low down-payment on a property to live in. Veterans (VA loan) or those in agriculture (USDA loan) can start with 0 down. Else, you can put 3% down. What a low barrier to entry! Focus on cosmetic fixer upper properties you can buy cheaper than move-in-ready homes, then increase your home value with clever renovations. The rise in your net wealth is non-taxable (not selling): instead, reappraise your property to remove Private Mortgage Insurance + apply for a Home Equity Line of Credit to use on your next (taking money out without paying tax). It gets better: after a year, you can rent it out. There is less competition in the single family market than in the multifamily (multiple apartments), so profitable opportunities exist.
08:39 Short Term Rental Strategy
Short term rentals need NOT be jobs. Automate by hiring contractors (cleaners, maintenance, virtual assistants, property managers) and using tech. Short-term rentals need not be fully occupied vs long-term rentals to yield the same monthly. It's easier to fill small gaps than find longer-term tenants. With long-term term tenants, you lock in a low rent relative to higher short-term potential; you’re exposed to a different set of legal issues + tenants can stay for years (good + bad). Both can be active or passive depending on how you set everything up. Neither is clearly superior. You're swapping one set of issues + benefits with long-term rentals for a different set of issues + benefits with short-term rentals.
16:45 Benefit: "Superhero" Mix of Strategies
My strategy combines + innovates on @MeetKevin (buy fixer uppers, rehab, reappraise [remove PMI and get a HELOC], and rent long-term) with someone like @SeanRakidzich (short-term) in a similar fashion as someone like @SeanRay. I went from rental arbitrage (not owning, but just renting out at high short-term rates while only paying low long-term rent) to buying short-term rentals with massive upside, and eventually buying long-term rental units. When researching properties, use conservative long-term rental numbers. But research whether the property could be a short-term rental too, e.g., near public transport or a remote vacation spot. Solutions differ like how you filter short-term guests vs long-term tenants. Fall in love with upside risk (higher than expected short-term rent).
IMPORTANT
▀▀▀▀▀▀▀▀▀
Consult with Michael (Soon)
https://michael-curran.com/finance/consult
Invest with Michael (Soon)
https://michael-curran.com/finance/invest
CONTACT / BUSINESS, INVESTING & CONSULT INQUIRIES
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
Please email my team at staff@michael-curran.com for any sponsorship, affiliate, collab, job, investment or consult requests.
LEGAL DISCLAIMER
▀▀▀▀▀▀▀▀▀▀▀▀▀▀
https://michael-curran.com/finance/legaldisclaimer.html
