e bought our 1st rental property in 2010; it was a long term rental in Charlotte, NC. Following that success led to us buying 3 more long term rentals in Charlotte. Even though we had positive cash flow, we were not seeing returns higher than 8%. Wanting to do better, we researched short-term rentals as another option.
We hired a consultant to walk us through the tax benefits of the short term rental market. After a few months of research the numbers worked, and in a big way. We were under contract in 2020, but finally closed on our 1st property in 2021.
Before purchasing the property, it had done $90k in gross rents per year through a traditional property management company. In our 1st year of self managing, we increased that to over $200k in gross rents. We used dynamic pricing, aggressive marketing, and several booking platforms to hit a new level of success. Building a local team who could manage the day-to-day provided the guests with the high level of service that gave us 5 star reviews.
To reach the next level of success, we had to be scalable. We paid tech freelancers to help us setup a better system of automation. This system is built around a custom Airtable database. The finances, communications, and cleaner management all build from there.
It worked so well, we bought our 2nd short term rental in 2022. The addition of a 2nd property was seamless with our automation design. That inspired us to want to help other short term rental owners to
1) Recognize the tax benefits of real estate
2) Maximize their returns through a scalable automated system
3) Reducing the stress that comes with property management
We are excited to partner with you and help you achieve a new level of success!
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Don’t miss out on the advantages of real estate ownership. Let us show you how you can make returns of over 40% on your investment – even in today’s interest rate environment.