3 Types of Rentals That STILL Make You Rich
Summary
This BiggerPockets podcast episode discusses three real estate investment deals, including a single-family home that can be used as a short-term rental. The deals mentioned offer insights into finding profitable real estate opportunities in the current market, as well as strategies for maximizing profit.
Key Insights
- •A single-family home was purchased for $55,000, with $90,000 in renovations, and is expected to generate $3,000/month in short-term rental income.
- •The ARV (After Repair Value) for the single-family home is conservatively estimated at $265,000 to $285,000.
Action Items
- ✓Consider renovating a property in a desirable location with potential for short-term rental use.Effort: mediumImpact: medium
- ✓Research the potential for short-term rental income in your area, and determine whether adding amenities such as a golf simulator would increase appeal.Effort: mediumImpact: medium
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