Many people invest for appreciation. Others invest for tax benefits. But some investors want enough monthly cash flow to replace their W2 income and help them quit their nine-to-five jobs. When can you go full-time with real estate investing? How many rentals do you need? Stay tuned!
Today, Tony and co-host Garrett Brown are diving into the BiggerPockets Forums, and our first question comes from someone who has launched six vacation rentals in just five years. Should they diversify their portfolio? Are they ready to become full-time investors? We’ll share our thoughts! We’ll also hear from someone who’s thinking about selling an equity-rich property to pivot to short-term rentals in the Midwest. Listen in as we show them how to choose a market and set up their Airbnb business. But that’s not all. One investor has bought a rental property that is already booked months in advance. Can they cancel those bookings? Raise their nightly rates? Stick around to find out!
Tony:
Let’s get your questions answered. What’s up guys? I’m Tony j Robinson, and today I’m excited to be joined by Garrett Brown for the short-term rental focused rookie reply. Now, if that name sounds familiar, it’s because Garrett recently joined the BP team as a full-time content creator, so you’re likely seeing him across all of the different BiggerPockets channels. Now today we’re diving into the BiggerPockets forums to get your questions answered. Now guys, the forums are the best place to go for you to quickly get all of your real estate investing questions answered by experts like me, Garrett, Ashley Care, and all the folks in the BiggerPockets community. Now let’s get into the show. So today’s first question says, I started getting into cabins in the Smokies about five years ago. I’m now happy to say that I own six cabins, four in the Smokies, two in Blue Ridge and manage another cabin in Blue Ridge.
All of this is being done remotely now. We’re working on building…