Shampoo & Booze 48: Renovation Stage 1 COMPLETE

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The renovation has been taking up all of our time- hence the lack of podcast. However, we're happy to say that the first stage of unglamorous work (framing, some flooring, windows, siding) is done. On to stage 2 of unglamorous work (electrical, insulation, HVAC, drywall, finish plumbing)! See photos below of some of the dirty work we've had our hands in.

Thinking of becoming an Airbnb host or guest? Use our referral code and get $20 off your next stay or $80 credit if you become a host!

 

Shampoo & Booze 47: Renting Long Term vs Renting Short Term

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Mike and his wife, Brenda, have worked full time jobs for the past thirty years. They have also been building a small real estate empire in their hometown in Michigan as they've bought up duplexes, condos, and single family houses. These are all full-time rentals to long term residents. But recently they decided to buy a beach condo in Florida and try doing vacation rentals on Airbnb.
In our conversation Mike shares the differences between these two kind of rental strategies and, more importantly, goes deep into his numbers. We've thought about possible buying local houses to rent full time, so Mike gave us some good perspective. He tells us how much work each kind of rental takes which helps us decide which one works best for us.

Thinking of becoming an Airbnb host or guest? Use our referral code and get $20 off your next stay or $80 credit if you become a host!

Check out Mike and Brenda's super cute condo on the beach: