Mini Retirements, Mini Hotels, Rental Hacking With Sve Pavic
šØāš«š©āšYay!! Itās back to school and back to work!! Cherry and I dropped off our kids this morning to no tears and no clinging. Maybe the kids already know everything and donāt need us anymore š¤£š¤£.Ā For my youngest, itās his first day of real school. No more pre-school at a public school. Yes, I said public school. For a lot of you wealth hackers out there, I know for you itās private school or bust. I know a lot of non wealth hackers who feel the same and pay for private school using their job income.
Thereās nothing wrong with that, itās a choice. I prefer to rely more on my wife and I to educate our kids in business and investing, you know, stuff not taught in public or private school, that could very well provide higher return. We are raising wealth hackers. Kids who are independent and have control of their destiny. Control also means financial security, so Iām going to make sure they can live free of student debt, rent free, and free of mortgage debt. They wonāt live lavishly, Iām talking about starter homes for them, whether it be in Toronto or Vancouver. Maybe a two bedroom. š
Speaking of Toronto, hereās the latest on rents in Toronto. Cherry was surfing Facebook marketplace last night and found a modern, downtown condo offering 1 bedroom and 1 bathroom for $1,600. Wow! Great deal, right? Then you read the description, the offering is actually a bedroom with ensuite bathroom in a 1 bedroom plus den and two full bathrooms. This landlord is going to gross around $3,000 per month!!
Creative business, yes. Much cheaper than a regular, one bedroom apartment but, damn, this is what the world is coming to and to me the choice is would I rather be the landlord or the tenant? The same applies for would I want my kid or my mom and dad to pay that sort of rent, or would I prefer to collect those rents wherever I choose to invest?
It really is a choice and a matter of courage that decides which side youāre on. Even if you donāt have the down payment today, Iāve been there, and made the decision to invest in myself to earn more job income to save more andĀ improve my credit.Ā Have the courage to push harder because no one is going to do it for youā¦. Unless youāre my kid, then Iāll help push a little. š
Many of you have been asking about my AirBnb progress.Ā The Summer was amazing!! September, not so much, so we are already exploring options for a furnished rental.Ā After speaking to my friend, Roger, we believe a furnished rental to young professionals by the room would provide the optimal return while minimizing risks. This is not a condemnation of short-term rentals but rather my formula is not providing desired results.
I pay a property manager a well deserved 20%. We outsource cleaning and pretty much everything else, but the investment will go negative cash flow if September and other months continue like this.
Not to say all short term rentals are bad. iWIN members in same city are having success and together weāll be sharing at the September iWIN meeting, so iWIN members may learn the latest best practices on a newer strategy.
Speaking of newer test-strategies, we are dropping knowledge bombs at the November 9th Wealth Hacker Conference, all day at the Toronto Congress Centre.Ā
At the Wealth Hacker Conference on Nov 9th in Toronto, considering the line up of experts we have, I would expect all attendees to have more than one takeaway and one connection made.Ā If youāre looking to start or build a business, you need to be there. We have expert speakers sharing how they started a business literally sitting on the floor of their garage and grew it to eight figures and Profit 500 THREE times in a row.Ā
If you want to level up your real estate investing or buy your first investment, you need to be here. The window of opportunity is shrinking and you want to know the best strategies to cash flow and capitalize before itās too late.Ā Ā
If you want to learn how to hack stock investing by selling options to make six figures in 30 minutes per day, you need to be at the Wealth Hacker Conference.
If you want to bring it all together and hear it from one of the top coaches in all of North America. All successful people have coaches, if you want to 10X, you want to hear what MaryAnne Gillespie has to say.
Finally, if you want to preserve your money so you minimize your taxes, maximize incentives to keep as much money as possible for your retirement, family and favourite charities, you will want to be at the Wealth Hacker Conference.
No matter where you are in your career: job, self employed, entrepreneur, investor – you will walk away armed with more knowledge to 10X your results.
www.wealthhacker.ca
Mini Retirements, Mini Hotels, Rental Hacking With Sve Pavic
Speaking of short term rentals, Mr Sve Pavic uses AirBnb as part of his repertoire in his rental hacking.Ā He is the CEO of RentalHacker.com and LUX Rentals. Sveās a young man whoās already spent an extended period of time in Costa Rica with wife and young daughter while operating his rental portfolio from there.Ā Whatās interesting about Sveās story is how heās implemented several strategies: rooming house, AirBnb, legal suites, mini hotel… and heās getting great rent by pushing the envelope with just a small number of properties. I think Sveās story should give a lot of young people and those just starting out a lot of hope. Plus his use of automation in his management is impressive. Get those pens and notepads ready! Without further ado, I give you Sve PavicTo Listen:
Google Play:Ā http://goo.gl/CAM5Mn
On Stitcher:Ā http://www.stitcher.com/s?fid=87335&refid=stpr
On SoundCloud: https://soundcloud.com/truthaboutrei
Youtube: https://youtu.be/V9djS21fBw8
Leave a Reply
Want to join the discussion?Feel free to contribute!