A thriving real estate business without rental properties?! It might sound like an easy way to “invest,” but make no mistake—you’re going to need to sharpen your management, interior design, and problem-solving skills for it to work. Fortunately, today’s guest can bring you up to speed on this low-cost strategy!
Welcome back to the “Real Estate Rookie” podcast! In this episode, Veronica Garreton returns to the show to offer more nuggets of wisdom for new investors. In our most recent episode with Veronica, she shared how she pocketed $150,000 in profit from just ONE luxury rental property. But today, she is going to take a deep dive into the investing strategy that allows her to grow her real estate business without buying more properties—co-hosting!
Of course, co-hosting, like any other strategy, is susceptible to the occasional horror story. Tune in as Veronica shares how ONE troublesome guest caused $11,000 in rental damage and how her decisiveness helped her save the day. What is co-hosting and how does it differ from property management? Why are medium-term rentals taking over short-term rentals in certain markets? How do you prevent bad reviews on Airbnb? Stick around for all of the answers!
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Join the Real Estate Rookie Facebook Group:
https://www.facebook.com/groups/realestaterookie
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The “Luxury” Rental Property That Brings in $150K/Year of Pure Profit w/Veronica Garreton:
https://www.biggerpockets.com/blog/rookie-384?utm_source=youtube&utm_medium=description&utm_campaign=none
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Wiping Out $130K of Debt in ONE Year With THIS “Steady” Real Estate Business:
https://www.biggerpockets.com/blog/rookie-373?utm_source=youtube&utm_medium=description&utm_campaign=none
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The Overlooked Aspect of Short-Term Rentals: Furnishing—Here’s What You Should Do:
https://www.biggerpockets.com/blog/how-to-furnish-your-short-term-rental?utm_source=youtube&utm_medium=description&utm_campaign=none
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Medium-Term Rentals: How to Get BIG Cash Flow Out of Small Properties:
https://www.biggerpockets.com/blog/real-estate-679?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
01:10 Co-hosting 101
06:05 Managing “Regulatory Risk”
11:37 $11K in Rental Damage?!
23:15 The Co-host/Owner Relationship
32:07 Finding Clients & Preparing for Guests
38:20 Co-hosting Opportunities in 2024
41:54 Connect with Veronica!
