Can you believe it? Americans are throwing away $6.2 billion WEEKLY in real estate by skipping over this simple, massive profit-generating action. I’ll tell you what it is in today’s episode. I’m Carole Ellis, and this is Episode 53.
So wouldn’t you like a share of the $6.2 billion that is apparently getting WASTED weekly by Americans making a “bad” real estate decision? I know I’m pretty interested. We’re going to get into the details on this exciting topic in just a second, but before we do, I want to mention another “billion-dollar industry” that most Americans think is completely out of their reach but that, in reality, is extremely straightforward and WILDLY profitable when done correctly. I’m talking about something big, literally – owning and/or FLIPPING apartment complexes. You can learn all about this important and highly underutilized (that means less competition, guys) investing strategy by going right now to www.rei.today/IMPORTANT for a free training that will give you ALL the details you need. Don’t miss it! If that BILLION number got your attention, then you need to access this information right away.
But now, let’s get back to the BILLIONS you’re apparently participating in wasting these days…And no, it’s not a government rant. Not today, anyway…
So here’s the scoop:
According to the website Finder.com, which is dedicated to helping people quote, “find what they’re looking for” whether it’s money, rewards points, or my favorite, education, there are 9.4 percent more bedrooms in the United States than there are people to sleep in those bedrooms, which means that there are 33.6 million spare rooms (if not more, since most couples sleep in the same room) in the U.S. According to Finder’s CEO, Fred Schebesta, those rooms could be being used as short-term rentals via AirBnB or other rental services, and that could mean nearly $10,000 a year, per bedroom, to the owners of those homes. Schebesta himself said that he earned about $184 a week using similar services and that he found that earning more money was far better than quote “cutting spending out.” He added, I’ve met some very interesting people over the years.
So what do you stand to gain from renting out your spare bedroom in your particular location? Well, it depends a lot on where you live. For example, Phoenix residents can get about $338 a week (more than $17,000 a year) and Nashville residents can snag about $572 a week (nearly $30,000 a year!) However, other locations that may be more rural or that have major seasonal issues (extreme heat, cold, or rain, for example) may be worth less to homeowners in these areas.
Of course, a lot of people don’t want to rent their spare bedroom out to strangers – in fact, a lot of people like keeping that room SPARE for a reason and don’t really like hosting overnight guests at all! But just because you don’t want people in your OWN home doesn’t mean you can’t take advantage of the new short-term rental trend. A number of investors are actually making extremely solid livings these days renting out space via AirBnB or VRBO (Vacation Rental By Owner) in their investment properties, and if you own property in a desirable location (like Nashville, for example, or a popular vacation destination) you can actually generate far more income using short-term rental strategies than you can renting out to a single tenant over the long-term. Want to learn more? Check out our latest exclusive REI Today Guide “Short-Term Rental Strategies for 2016” in the REI Today Vault by visiting www.rei.today/vault right now! Not yet a member? No worries! When you text REITODAY no spaces, no periods to 33444 and I’ll immediately send you the information you need to get that report right away and ALSO provide you with fast, immediate access to all sorts of great trainings, news coverage, interviews, and lot more timely information that will help make your investing safer, faster, and more profitable.
And remember, when you do that, you’ll also be able to GROW YOUR NETWORK by interacting with me and your fellow listeners to REI Today… so stop by to ask questions, make comments and network with other investors across the country. Text REITODAY no spaces no periods to 33444 or head over to www.rei.today/vault right now.
REI Nation, thanks for listening in and always remember this:
Your best investment is your own education.
Carole Ellis is the host of Real Estate Investing Today, a popular 9-minute daily podcast focused on educating real estate investors about the important topics that will make their investing SAFER, FASTER, and MORE PROFITABLE. She's also the editor of the Bryan Ellis Investing Letter. She has more than a decade's worth of experience in and reporting on the real estate industry and, additionally, has written dozens of courses on the topic. Carole lives in Kennesaw with her husband, Bryan, and four children. She believes wholeheartedly that your best investment is always your OWN education.