VDI Insights: The Easiest Way to Get Into Real Estate Investing and See Quick Returns
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-Tim Murphy
I'm so excited about house hacking, and house hacking short term rental, using your own personal residence.
When we launched the Value Driven Investor, and we thought about the community, the number one problem that I wanted to solve was how to get people started investing in real estate.
What is the simplest and easiest way to get people started investing in real estate.
And that's why I'm so excited about house hacking.
House hacking is when you take your personal residence and stage it for the experience.
The example in the last podcast is Robert Grand's property. He took a little rundown property and started making only $150 a night.
It was a beat up and ugly on the oustside. Inside, it looked pretty good. Bob had remodeled the inside of the house. He had designed the kitchen with purpose. He created an open concept. He had the Pinterest house, but still it wasn't done. And he knew it wasn't done. He lived there. And for four years, he slowly improved the property, he slowly thought about revenue by design, and he slowly staged and designed the property to create an experience.
And you can do this too. If you buy a beat up house and start chipping away one piece at a time, you will turn it into a revenue stream.
When you think you have it fixed up just enough, you will rent it out for 150 bucks a night.
As you get more and more people into it, you'll slowly start to improve their experience.
Just like Bob. Bob finished the front of the house and bought new furniture. It's all about the experience. Everything that people experience is emotional. And emotions make money.
Now instead of $150 a night, Bob is getting 300. And at peak season, $400 a night. Robert is now bringing in roughly 30,000 extra dollars a year.
That's so cool.
That's such a realistic strategy for you to use.
If you're sitting in the survival phase, and you're trying to find your way out of it, check out the VDI Podcast about short-term rentals, part one and part two.
Because I really believe this could be the simplest way to get started for anyone as a real estate investor
Visit www.ValueDrivenInvestor.com right now.
