Hey friend, I am Sarah. Welcome to the Nerds Guide to Financial Independence Podcast! I am a solo mama of one, running on too much taco bell and refusing to give up a weekly fancy latte. I’m here to show that financial independence can be for anyone who wants it badly enough. Investing in real estate doesn’t have to be scary, take vast DIY knowledge, or involve heaps of debt. When I am not sharing my own progress to FI, I’ll be picking the brains of like-minded debt contentious investors. I am so glad you are here, my fellow aspiring retirees. Come join the IG party: @nerdsguidetoFI
26. Dying to Airbnb? Lean FIRE with 5 properties (2.2M!) in 2 markets: Systems, processes, and tips after 2,000+ guests with Travis from @youngretireeby33
From stumbling into house hacking to building an Airbnb empire, Travis from @theyoungretireeby33 has a LOT to share with us. Travis began his journey to FI after reluctantly reading “Rich Dad, Poor Dad” and his eyes were opened to different types of investing. At 24 he bought his first home and rented out 2 of the bedrooms-and realized he could live for free! Living in Orlando, he realized that short term rentals were where the money was at. Fast forward to today, and Travis is an expert in short-term rentals, and lucky for us we get to pick his brain.
We get real about Airbnb ownership, namely: what are the odds my house will get trashed? Travis explains how you can screen potential guests like you would screen a tenant, why your cleaning crew will be your best friend, and what to do when a guest steals your throw pillows (his answer might surprise you). After hosting more than 2000 guests, Travis learned from first-hand experience how to handle situations and he shares the small touches that earn him great reviews. We chat about vacation home loans and financing, property management and the processes he uses to make things easy. He shares the software he uses to automate and outsource his bookings! I'm not going to lie, now I just want to Airbnb something.
You can find Travis on Instagram @theyoungretireeby33 and check out his guide to Airbnb hosting!
4 Nov 2021
25. Finding deals in Maui, ignoring what the haters say about HCOL areas, and optimizing properties for $500/mo+ cashflow with Zasha @investwithZasha
This week I’m talking with Zasha, a fellow mom, woman in STEM and real estate investor (did we just become best friends?) about what its like to invest in a high cost of living area. Zasha lives and invests in Maui, Hawaii both, in rental properties and flips. She didn’t start out with any real estate or financial background, instead she was a civil engineer for ten years. Before she was married, she sold her home she shared with her mother, and netted $100k+ profit! She had no idea this was possible and started to learn more about investing in real estate. Zasha has a wealth of different experiences in real estate, from flipping homes to rentals in section 8, to building attached dwelling units on her properties. We talk about criteria we look for when shopping for homes-you can’t beat that corner lot! She demystifies renting to section 8 tenants, and like most things, its less intimidating than it seems. She has worked her way from FHA loans to BRRR to using private money and partnerships. She has even dabbled in seller financing. Zasha isn’t afraid to try new things and make them work for her. Like me, Zasha’s goal is to make passive income month and be on the path to financial freedom.
Though I’ve been reluctant to jump on board, Zasha has sold me on the importance of a morning routine for success. She talks us through her tips-she wakes up at 4:30AM (ok probably not going to be able to do that one) and plans her day, visualizing what she will accomplish and using affirmations. Exercise is key and working on mindset daily. We both talk about balance and what's important to us. After this conversation I’m inspired to start thinking about my mornings differently. Step one: visualize owning a home in Maui…
You can find Zasha at @investwithzasha on Instagram!
25 Oct 2021
24. The legal take on buy and hold real estate from the owner of 100+ SELF MANAGED units | Bonnie Galam Esq.
We’re kicking off season 3 with Bonnie Galam of Landlord Law School™! Bonnie became interested in real estate investing during law school, and now self-manages 100+ units with her husband, along with her own firm, podcast, and website, offering templates and trainings for new investors. WHEW...its not clear when she sleeps. We talk about her journey into investing and using the BRRR (buy, rehab, rent, refinance, repeat) strategy. Though we both agree it feels like everyone and their mother is getting into real estate, we know there are still deals to be found! I ask Bonnie what its really like working primarily with student housing: Do the tenants pay their rent? Is everything just always covered in beer? But it sounds like student housing isn’t as intimating as I thought (although wood floors are a MUST).
I have a list of legal questions for Bonnie including:
- “I just went online and formed my own LLC…is that terrifying?”
-Do you need an LLC per property?
-When’s the best time to form your LLC?
-How should I tighten up my lease terms?
We take a deep dive into LLCs and I ask her about the Series LLC. Bonnie teaches offensive asset protection methods, like getting everything in writing, good contracts, estate planning, etc. I learn that you can often get lease templates from attorneys and its more cost effective than having your attorney look at your existing lease. Every year Bonnie does an “asset protection self-audit” and asks herself “What didn’t work this year? How can I tighten up my lease to prevent this going forward?”. Bonnie is a wealth of information and offers so much information through her podcast, website and her Landlord Law School™ included in the links below. I have a feeling you’ll want to listen to this one and take notes! I feel smarter now after recording this podcast with such as fellow boss lady, love her and some killer #lawyershit
Find Bonnie:
https://www.bonniegalam.com/ (https://www.bonniegalam.com/)
podcast: Good Bones Real Estate Investing
Tools Mentioned:
https://kajabi.com/ (https://kajabi.com/)
www.avail.co (http://www.avail.co/)
www.appfolio.com (http://www.appfolio.com/)
www.anchor.com (http://www.anchor.com/)
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