#41 with Gary Hadida: Getting Started in Short Term Rental Arbitrage With Very Low Down

Millennial Millionaire Real Estate Podcast

English - July 30, 2020 18:17 - 1 hour - 115 MB - ★★★★★ - 56 ratings
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Previous Episode: #40 with Seth Williams: How to Get Started in Real Estate with Buying and Selling Land

Next Episode: #42 with Ben Kogut: Scale Your Syndication Portfolio to $225M and Effective Strategies to Raise Capital

In this episode, Jonathan Farber interviews Gary Hadida on his journey from becoming a 10 thousand dollar shoe entrepreneur at 14 to operating seven properties as Airbnb vacation rentals by 21. Gary is a real estate agent and an Airbnb arbitrage investor in Florida. In this episode, we unpack topics like prospecting for short term rentals, furnishing, decorating, and more!

Top Takeaways:

Finding prospects in a vacation market - 27:20 - 32:20

Use resources to find properties that have been on the market for a while

The longer it’s been on the market, the easier it will be to get for an Airbnb

Build rapport with agents or owners before bringing up Airbnb

How to furnish an empty rental - 36:00 - 39:00

Make a realistic budget for furniture and other amenities that the unit needs

Use wholesalers, Goodwill, garage sales to find decorations at a discount

Partially or pre-furnished units can generate cash flow faster

How to decorate for an Airbnb - 41:20 - 42:30

Use the MLS or rental sites to get an idea for decorations

Always use professional photography