Greetings, My name is Mark, and I live in Raleigh, NC. I am currently a home-owner, renting out a single bedroom on AirBnb. This covers my mortgage and utilities.
Both home ownership, and Airbnb, have given me a good taste of the world of real-estate and rentals. I am looking to pursue real investing full time, with a focus on short term rentals.
I have a decent amount of financial resources to get started.
I just finished reading Rich Dad, Poor Dad, and am in the middle of reading Brandon's The Book on Rental Property Investing.
Any getting-started advice from members, both locally, and remotely, would be greatly appreciated.
Hey @Mark Calivas congrats on getting into the world of real estate and AirBnb. It is a great time to be in the market. Places will be booming for the next couple of years due to pent up demand for travel. I'm happy to send a list of furnishings, software and the like that I use personally as well as some links to videos that might be helpful. Shoot me a message and I'll send it your way!
Thank you so much for the greetings. I am very grateful, and would love to take you up on this list of resources.
I am digging through your website as I write this. Your story is an inspiration.
I am curious, I see that you have five units. Is this all it took for you to generate the cash flow you were after, or are you still building your portfolio?
@Mark Calivas thanks for the compliments. We are definitely still in the building phase of our investing career.
We actually now have 6 rental units. But we are in the process of selling our duplex in Steamboat in hopes of buying 2 more properties that will produce more cash flow.
My situation is a bit complicated as I am building cash flow for both myself and my mom who is already retired. She contributed the initial money to start our investing about 8 years ago. She gets paid a set amount each month. Eventually we will split all profits once the investments make enough money. I am hoping by the end of the year we will be making $100,000+ per year in profit.
For me, this was a journey, starting with long term rentals, which appreciated. Then trading those for shot term rentals that needed a ton of work. Now we are starting to reap the benefits of our labors by being able to selling one property and refinancing the other to finally pull the money out to reinvest.
I’m happy to send some additional info, just send me a message. I can’t link to anything here!
Hey Mark, congrats on getting started and taking further action! Are you wanting your short-term rentals to be in the Raleigh/Durham area or elsewhere?
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