Hello friend! Welcome back to the show! My name is Dr. Rachel Gainsbrugh, and I am so excited about today's topic. Today, we're talking about how busy doctors can create a lucrative midterm rental. I'm going to be spilling the tea on the 12 exact steps to get started. Today's talk is perfect for doctors, nurses, medical professionals, engineers, and attorneys. If you're looking to secure your financial future with real estate investing without adding a lot more to your already busy schedule, this episode is for you!
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12 Steps to Secure Your Midterm Rental
1. Secure Your Down Payment: Identify and gather your down payment from sources like W2 savings, bonuses, or other creative means.
2. Financing: Determine who you will work with for financing. Leverage local lenders, and explore options like 0% or 10% down payments.
3. Data Analysis: Use tools like www.75gems.com to identify profitable markets.
4. Realtors: Realtors can help you identify prime locations, negotiate deals, and understand market nuances. Remember, it's your responsibility to know your numbers. Don’t rely entirely on your realtor - be proactive and knowledgeable to avoid wasting time and resources.
5. Property Analysis and Underwriting: Deep dive into the financials, debt service ratios, and potential returns.
6. Regulations: Understand short-term rental ordinances and HOA rules.
7. Closing and Pre-Marketing: Ensure all pre-launch steps are completed, from finding cleaners to setting up door locks.
8. Furnishing: Choose from DIY, done-with-you, or professional design services to furnish your property.
9. Professional Photography: Invest in high-quality photos to make your listing stand out.
10. Optimizing Listings: Create compelling listings on platforms like Airbnb, Verbo, and corporate housing sites.
11. Self-Manage in Year One: Manage the property yourself to take advantage of tax benefits.
12. Plan for Expansion: Create a direct booking site and market your property to past guests.
FIND RACHEL:
Podcast: On all platforms that support podcasts, The Luxury Rental Doctor Show
Facebook: shorttermgems
Instagram: @short.term.gems
Website: www.shorttermgems.com/
19 июн 2024
