Making six figures from one rental property is every investor’s dream, but to achieve this, you need to choose the right investing market, buy the right property, and create luxurious “moments” that other rentals don’t offer. Today’s guest is going to show you the ropes of luxury real estate investing!
Welcome back to the “Real Estate Rookie” podcast! When Veronica Garreton decided to try her hand at short-term rentals, she went straight for the big fish—a $750,000 rental property in Joshua Tree, California. At the time, it was the area’s most expensive property listed for sale, and in year one, the rental barely broke even. Using her background in architecture, however, Veronica identified creative value-adds that would attract more guests and allow her to charge her ideal nightly rate. The very next year, she pocketed a whopping $150,000 in pure profit!
Whether you own a basic rental or a “luxury” property, there is plenty of wisdom to glean from today’s episode. Veronica talks about analyzing deals, using the power of influencer marketing to get more bookings, and the small touches ANY property owner can make to enhance the guest experience!
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Join the Real Estate Rookie Facebook Group:
https://www.facebook.com/groups/realestaterookie
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How to Start an Airbnb Business in a Brand New Market:
https://www.biggerpockets.com/blog/rookie-363?utm_source=youtube&utm_medium=description&utm_campaign=none
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Should You Convert Your Rental Property Into An Airbnb? 6 Factors to Consider:
https://www.biggerpockets.com/blog/convert-your-rental-into-an-airbnb?utm_source=youtube&utm_medium=description&utm_campaign=none
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Protecting Your Future in Short-Term Rentals: It Starts By Providing a Powerful Guest Experience:
https://www.biggerpockets.com/blog/the-future-of-short-term-rentals-rests-in-the-guest-experience?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Veronica:
BiggerPockets: https://www.biggerpockets.com/users/veronicag54?utm_source=youtube&utm_medium=description&utm_campaign=none
Instagram: @rockboundoasisretreat or https://www.instagram.com/rockboundoasisretreat
Portfolio: https://linktr.ee/rockboundoasisretreat
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Connect with Tony:
BiggerPockets: https://www.biggerpockets.com/users/tonyr75?utm_source=youtube&utm_medium=description&utm_campaign=none
Instagram: @tonyjrobinson or https://www.instagram.com/tonyjrobinson/
Show notes at: https://link.chtbl.com/Rookie
00:00 Intro
01:16 $150K Profit in ONE Year?!
10:09 Creating Luxurious “Moments”
14:58 Property Management & Standing Out
24:02 How to Analyze a Luxury Rental
26:11 Influencer Marketing 101
36:45 “Luxury” Touches YOU Can Make
46:18 Connect with Veronica!
