Covering Her Mortgage in ONE Day with THIS (Up to $16K/Month!)
Description
Covering your entire mortgage payment in ONE day?! Today’s guest is proof that you don’t need a full-blown real estate portfolio to start making money. She has only ever owned one property, her primary residence, but it brings in up to $16,000 a month being rented out part-time!
Welcome back to the Real Estate Rookie podcast! When searching for her first home, Nicole Lulinski Weill wanted a property that could bring in some extra income. She started looking at duplexes and homes with accessory dwelling units (ADUs) before stumbling on her dream house—a vintage home that had been used for film productions—and deciding to tap into its money-making potential as well.
Despite not owning any “rentals,” she can pay her mortgage with a single project. The best part? This unconventional strategy is scalable! Now that Nicole has proof of concept, she plans to buy more of these niche investments in emerging markets and rent them out in the same way!
If you want to make money without house hacking or becoming a landlord, you don’t want to miss this episode! Nicole will show you where to find a money-making primary residence, how to rent out your home to film production companies, and steps to protect your home from damage along the way!
In This Episode We Cover:
How this rookie investor covers her entire mortgage payment in ONE day
Why you DON’T need to own rental property to make money in real estate
How to turn your own primary residence into a money-making machine
Renting your home out to film production companies for a huge payday
Crucial steps to protect your house from damage while renting it out
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Buy the Book “First-Time Home Buyer”
Find an Investor-Friendly Agent in Your Area
Real Estate Rookie 497 - $1,000,000/Year with 22 Rentals by Focusing on This Ultra-Profitable Niche
(00:00 ) Intro
(00:59 ) Buying (and Renting!) Her Home
(10:51 ) Permitting & Logistics
(14:42 ) Paying Her Mortgage in a Day?!
(17:53 ) Protecting the Property
(22:45 0 Extra Fees & Rental Rates
(26:27 ) The Booking Process
(37:08 ) Connect with Nicole!
(33:39 ) Scaling & Revenue
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-500
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