Discover this podcast and so much more

Podcasts are free to enjoy without a subscription. We also offer ebooks, audiobooks, and so much more for just $11.99/month.

384: The “Luxury” Rental Property That Brings in $150K/Year of Pure Profit w/Veronica Garreton

384: The “Luxury” Rental Property That Brings in $150K/Year of Pure Profit w/Veronica Garreton

FromReal Estate Rookie


384: The “Luxury” Rental Property That Brings in $150K/Year of Pure Profit w/Veronica Garreton

FromReal Estate Rookie

ratings:
Length:
55 minutes
Released:
Mar 25, 2024
Format:
Podcast episode

Description

Making six figures from one rental property is every investor’s dream, but to achieve this, you need to choose the right investing market, buy the right property, and create luxurious “moments” that other rentals don’t offer. Today’s guest is going to show you the ropes of luxury real estate investing!
 
Welcome back to the Real Estate Rookie podcast! When Veronica Garreton decided to try her hand at short-term rentals, she went straight for the big fish—a $750,000 rental property in Joshua Tree, California. At the time, it was the area’s most expensive property listed for sale, and in year one, the rental barely broke even. Using her background in architecture, however, Veronica identified creative value-adds that would attract more guests and allow her to charge her ideal nightly rate. The very next year, she pocketed a whopping $150,000 in pure profit!
 
Whether you own a basic rental or a “luxury” property, there is plenty of wisdom to glean from today’s episode. Veronica talks about analyzing deals, using the power of influencer marketing to get more bookings, and the small touches ANY property owner can make to enhance the guest experience!

In This Episode We Cover
How Veronica pocketed $150,000 in profit from a single rental (in one year!)
Enhancing your guest experience with simple but effective property additions
How to transform your rental property into a “luxury” stay
Raising your bottom line and standing out with luxury rentals
How to get MORE bookings for your rental with influencer marketing
The “rule of three” Veronica uses to analyze luxury short-term rentals
And So Much More!

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-384
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Released:
Mar 25, 2024
Format:
Podcast episode

Titles in the series (100)

Ready to build your real estate empire… but not sure where to begin?Think of us as your personal trainer.From detailed breakdowns of real-world deals… to one-on-one coaching sessions and a warm, welcoming community… hosts Ashley Kehr and Tony J Robinson bring on a wide range of guests to tackle the “newbie” questions you've wondered about but might be afraid to ask.Looking to 10X your real estate investing business this year? This show isn’t for you.Looking for your first, second, or third deal -- or envisioning a more modest portfolio? Step right up. Every Wednesday, we’ll arm you with the tips, tools, and roadmaps you'll need as you embark on your journey toward financial freedom.