Your retirement is only 15 months away.
If you follow this plan, you can create $10,000 per month of reoccurring income in just 15 months!
How will you spend all your free time?
Here’s some numbers to show your skeptical friends. Zoom in and take a look.
The numbers in black font are actually what I’ve done to date. The numbers in green font are conservative projections.
I created this plan so a waiter or waitress could follow it and be successful.
You don’t need a college degree to pull this off.
You only need to be willing to take action.
It really is amazing.
You Can Raise Startup Funds
You don’t have to have deep pockets or be from a rich family to make this happen.
However, you do need start up funds.
…But listen close, those funds don’t have to be yours.
Let go of your self-limiting beliefs. A big bank account and high credit score are helpful but not required, so don’t let your current status prevent you from trying this.
Adopt a banker’s mindset. Banker’s use other people’s money to make money. A banker’s doesn’t let their credit and educational status limit their success.
Bankers don’t use their own money.
Raising funds is not difficult. There’s plenty of how-to information on the internet. I also present detailed equity financing instructions in my coaching and training program. Raising private money is a learnable skill – so let’s agree on that and move on.
Create a Business
Rental arbitrage is an incredible business.
You’re able to use short-term rentals to compete in the highly-profitable corporate housing industry.
This business is something you grow while holding onto your current job. To quickly gain your financial independence, you need to reinvest all your cashflow. That’s why you need to grow it on the side.
SPECIAL NOTE: It’s important to celebrate your success along the way. Go to dinner or something, but that’s it. Keep it small.
The business is easy to understand:
Step 1: Rent and furnish some other landlord’s rental, then rent it out to someone willing to pay you at least $500 more than you pay.
Step 2: Save all your profits until you can afford the first month’s rent, a rental deposit and furnishings for another unit.
Step 3: Rent and furnish an additional unit.
Step 4: Repeat Steps 2 and 3 until you’re able to (a) hire assistants and (b) take a $10,000 monthly salary for yourself.
You are essentially creating a snowball of success. How cool is that?
As you grow, you’ll need to deal with problems associated with earning a lot of cash. You’ll likely need to incorporate, hire a virtual assistant, and raise a little more money to scale up.
But the good news is that it’ll be simple for you. You just need to use the systems and templates that I’ve created as I’ve grown. There’s no need to hire the lawyers and experts that I did.
You’ll just need to copy what I’ve already done to get the same results. Plus, I’m willing to help you!
I’m creating guidelines so that an everyday person, even one who may be up to their eyeballs in debt, will be successful. It’s important to create attractive investments to attract money then pay out a little while making a lot.
…Remember.. the banker’s mindset!
So, you want to pay off investors as soon as you’re established. And your first order of business once you hit your salary goal ($10,000 in this example) is to pay off your investors and payback your startup funds.
Once everyone is paid back, you’ll be more savvy than a banker. You’ll be making money without using anyone’s money!
Lead a Prosperous Lifestyle
How many people do you know that have both financial and time freedom?
Most of the wealthy people I know are too stressed out. They are slaves to their businesses.
But this business is different. Since you’re growing it on the side, you are forced to create systems and teams to get the job done. And this is the perfect attitude to have.
You want your business to work without you.
Also by focusing on travelers that stay for more than 30 days at a time, you’ll have less churn. Most days you won’t need to do a thing.
It’s an incredible way to live. And it’s yours if you chose it.
All Within 15 Months
Fifteen months to reach a $10,000 net monthly income is completely doable. And as the above table shows, you should be able to build a healthy reserve fund of nearly $29,000, at the same time (less taxes, bookkeeping, movers, photographers, consultants and virtual assistants). However, if you want to move fast and avoid pitfalls, you’ll need to pay for expertise.
Get degrees to advance as an employee. Get coaching to advance as an entrepreneur.
It’s a new day and you have new opportunities right now!
Your potential fizzles as more people jump in and try rental arbitrage. Please don’t be late to this one.
If you’re ready to live out of your imagination… instead of your memories, then I’m ready to assist you.
Just do what I did to accomplish what I accomplished. I went first so you don’t need to struggle. You can execute against this plan.
Check out http://extendedstaylandlord.com to get started.
Do you tell the owner that you will be subleasing his apartment?
Absolutely. We negotiate the sublease clause and address the matter in the lease.
I’ve been hosting for about 5 months. I got superhost status. I just don’t think I’m going to be profitable.
Yes, superhost means you’re ding a good job on your gross, but has nothing to do with your net income. I’m not a superhost – my guest stay too long. Do what’s best to maximize your net income.
Do you have a network of landlords looking to sublease or are you instructing people to search them out and if so, how?
Yes, you can find them yourself. Go to your local REIA meetings and meet other investors and property managers. It’s not difficult. Google “REIA in [name of your town]” to get a list of the local meetings and times.
If I go to an REIA meeting and propose a deal to sublet would I have to explain what I’ll be doing and if so why wouldn’t they just do it themselves once I tell them my plan?
Thanks for the question Barbara. Yes, you absolutely need to explain your motive. Any decent owner is going to want to screen you. And, although I’m hopefully making things sound simple, the real key is marketing.
Lot’s of people jump into the short-term rental game and burn out in two years. They simply don’t know how to get a corporate client that wants to stay for an extended period. That takes skill.
So there’s nothing stopping people from trying. It’s best not to share your profit aspirations. Simply talk to owners about the benefits you’ll bring them.