From Zero to $8,000/Month Cash Flow in Just 2 Years (While Working a W2)
Summary
This BiggerPockets article features an investor who achieved $8,000 in monthly cash flow from STRs in just two years while working a full-time job. The story emphasizes how to find off-market deals and build a team to help you succeed, even with little to no prior experience.
Key Insights
- •The investor found his first deal on Facebook Marketplace.
- •The investor generated $8,000 in monthly cash flow from STRs within two years while working a full-time job.
Action Items
- ✓Hosts should build a team of experts like contractors, attorneys, and private money lenders.Effort: mediumImpact: high
- ✓Hosts should consider using online platforms like Facebook Marketplace to find potential deals.Effort: lowImpact: medium
Tools & Resources
- →Facebook Marketplace: The article mentions using Facebook Marketplace to find deals.(facebook.com/marketplace)
- →BiggerPockets Agent Finder & Lender Finder: The article mentions using the BiggerPockets Agent Finder and Lender Finder to build your team.(biggerpockets.com)
Common Mistakes
- ⚠The article highlights the risks of buying a property sight unseen without talking to the seller or thoroughly reviewing the contract.
More from Getting Started
This article from GreekReporter.com reports that Greece is climbing the European short-term rental rankings. While specific details on the rise are not provided in this short article, this suggests a growing opportunity for hosts. It implies increased demand in the Greek market, which presents a dynamic opportunity for STR investors.
Ennismore plans to expand its hotel presence in India, with its first hotel under the Morgans Originals brand, Roswyn, already soft-opened in Mumbai. Following the Mumbai debut, the company plans to open a Hoxton hotel in Bengaluru and is actively exploring further expansion opportunities, recognizing the market's readiness for a luxury lifestyle product.
The short-term rental market's growth is slowing, according to eKathimerini.com. This shift may affect occupancy rates and revenue for hosts. Understanding market trends is crucial for adapting pricing and marketing strategies, ensuring continued profitability.
Curated by Learn STR by GoStudioM