How to Create Wealth From Short-term Rentals

What are short-term rentals?

A short-term rental is exactly what it sounds like. It is when a home, whether it be an apartment or a house, is available to stay in for short-term periods. In most cases, short-term rentals are similar to a hotel. Typically, guests stay for less than 30 days at a time. As a result, the property is listed at a daily rate. The most well-known of these short-term rental companies is Airbnb. They allow you to book a stay pretty much anywhere and also allow you to become a host yourself. 

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What to Know About Prefabricated Homes

What is a prefabricated home?

A prefabricated home is typically referred to as a home put together in a factory, that is then transported to the desired build location. Once the home pieces are there, it is either placed at the site as a whole or, transported in several pieces and then built. Almost as if they were building blocks. Once everything is on-site, it can be assembled in a matter of weeks. The whole process from start to finish may take about two to four months in total if you include the rest of the steps such as plumbing, electricity, setting up appliances, etc. Continue reading “What to Know About Prefabricated Homes”

All-around excellence

Look around you. Look around your circle of friends, acquaintances, and within your family. If you are like me, you may know people that have varying degrees of success – a rich uncle, a friend that’s in incredible shape, or a married couple that is deeply connected and that are still in love after 50 years. Or on the flip side, there may be an uncle that’s morbidly obese, you may know someone that is broke, or maybe a couple that is going through a bitter divorce.

There often is a pattern that occurs with unsuccessful people. People that are financially broke, tend to be unhealthy mentally and physically. Being poor is draining and stressful. It’s easy to be depressed if you are not in the best physical shape.

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How do Apartment Building Investors Get Paid

As we’ve discussed in other articles, when purchasing apartment buildings, there is normally two types of partners involved:

  • A general partner or partners (syndicators)
  • Limited partners (investors)

There is a variety of structures on how limited partners can get paid. Some of these are:

  • A fixed preferred return
  • A share of the profits from the rents and the sale of the building
  • A combination of the two approaches above
  • Other creative approaches

Independently of the approach chosen, there are certain metrics that each potential investor should be familiar with. Some of these are discussed in the following sections.  Continue reading “How do Apartment Building Investors Get Paid”