There are so many ways to invest in real estate. And when you’re first learning about the options, it can get overwhelming.
But the most successful investors niche down to a single strategy, perfect their processes and rinse, repeat to scale.
Kyle Stanley, for example, focuses on short-term rentals, and he has created systems in his business that allow him to work just one or two hours a week!
Kyle is the creator of The Fearless Investor, a platform that helps people learn about the real estate investing game.
He tried several investing strategies before niching down to Airbnb, and nine months in, he was grossing over $25,000 a month!
On this episode of Financial Freedom with Real Estate Investing, Kyle joins Garrett to explain how the short-term rental arbitrage and cohosting models work for aspiring investors who don’t own property themselves.
Kyle shares the mission behind his brand, The Fearless Investor, and challenges aspiring investors to conquer our fears through action.
Listen in for Kyle’s advice on uncovering your real estate investing niche and find out if the short-term rental model is right for you!
Key Takeaways
How Kyle got into the short-term rental business
- Got into real estate to earn passive income
- Decided to keep second flip as short-term rental
- Earned $2,000 in first month on Airbnb
Why a STR arbitrage tenant is better than a long-term tenant
- Additional layer of insurance
- Earnings depend on keeping property in good condition
- ‘Almost like having free property manager’
The 3 types of short-term rental models in Kyle’s portfolio
- Properties he owns
- Properties he rents (arbitrage)
- Cohosting properties
Kyle’s responsibilities as an Airbnb cohost for property owners
- Marketing and guest communication
- Maintenance and cleaning
What makes Kyle successful in a non-vacation destination
- Understands guests (business travelers and families)
- Choose data over emotion
What Kyle does with an underperforming STR
- Add amenities, upgrade décor and photos
- ‘Think through lens of guest’
How Kyle thinks about luxury Airbnbs
- Comes with new opportunities and headaches
- Easier for his team to stay in their niche
Kyle’s advice on finding your niche in real estate investing
- Get educated and make decision quickly
- Stop thinking and go for it, but know your limits
- Find mentor or course to reduce risk
The mission behind Kyle’s Fearless Investor brand
- Help people overcome being paralyzed by fear
- ‘What you do with fear defines success’
Kyle’s advice for people who are paralyzed by fear
- Action conquers fear, AHA moments in doing
- Almost always less scary than you thought
The benefit of building a STR business in your local market
- Can do tasks yourself before you teach team
- Choose best return on TIME over INCOME
Related Articles
Earn Big Returns With a Portfolio of Commercial Assets
Connect with Kyle Stanley
Connect with Michael Blank
Apartment Investor Network Facebook Group
Email [email protected]
Resources
Join the Nighthawk Equity Investor Club
Explore Michael’s Mentoring Program
Access Michael’s Free Resources in the Freedom Vault
Review the Podcast on Apple Podcasts
Financial Freedom with Real Estate Investing by Michael Blank
