Owning a multifamily investment property does not have to mean you are confined to long-term rentals to generate income. In fact, our guest today, Holly Lynn’s area of expertise is bringing short-term renters into properties that were previously only considered appropriate for long-term tenants. While short-term rentals have been around for several years, many in the multifamily space do not take advantage of this innovative and flexible income-generating model.
Our gracious sponsor:
Lionshare Bookkeeping believes the key to generating wealth is understanding where it comes from, and where it needs to go. They provide bookkeeping and financial coaching exclusively to Real Estate Investors – focusing on cash flow, strategy, and action. Go to http://bit.ly/LionshareBookkeeping to connect with them now.
Watch the episode here:
Listen to the podcast here:
Holly’s work focuses on connecting with people and connecting people with other people and she leverages these skills and her extensive network to ensure that her clients’ short-term rentals are successful. She talks us through some of the logistics of renting out multifamily properties on short-term rental platforms, such as the legalities, management, and ratings. She also expands on the services that she provides to her clients as well as some systems potential renters can put in place if they are unable to utilize her services. To learn more about this interesting income-generator for your multifamily property, tune in today!
Key Points From This Episode:
- There is a trend in the multifamily space where investors are buying for short-term rentals.
- A large part of Holly’s work is connecting people who contact her to other industry experts.
- The process for a client who recently contacted Holly about Airbnb in his 15-unit investment.
- How to find out whether Airbnb is legal where you live and some potential ‘loopholes.’
- The formula Holly uses to see the difference between long and short-term rental incomes.
- What the staging process entails and how done up an apartment should be to rent out.
- Some of the required systems needed to run Airbnbs in multifamily properties.
- The kinds of 24-hour questions that Airbnb renters can expect to be asked by guests.
- Why hosts shouldn’t worry about not getting five-star reviews every time.
- Guests should read all of the reviews, not only look at the star-ratings.
- How Holly’s fee structure works.
- Holly relies heavily on assistants for her work and insights into how she manages them.
[bctt tweet=”Make your money. Just do your best because that’s what we can do. — @BAMFWorld” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Holly Lynn
Holly Lynn is an experienced owner with a demonstrated history of working in the real estate industry. Skilled in Team Building, Television, Leadership, Marketing, and Digital Marketing. Strong business development professional who graduated from San Francisco State University, College of Business. The Queen of Capital, Holly Lynn specializes in helping people with their real estate needs. She is a creative and results-driven resource who can help investors at every level. Her authentic, personal relationships with both lenders and investors coupled with her vision, work ethic and endless desire to make the deal work position her as a sought-after, leader in the industry. Holly can help you with hard money, private financing and other funding for your investments and projects. Holly is a self-taught deal maker who has always had a keen business sense. She works with investors and syndication across the board who are looking for real estate investments that produce passive income streams.
Holly Lynn built B.A.M.F into the single most recognized name that is designed to build strong relationships and invest in multifamily projects to create massive cash flow and wealth. B.A.M.F monthly meetups in San Francisco, San Mateo, Fremont, San Jose and those conducted through webinars are open for everyone. As the multifamily properties continue to be an investment megatrend, Holly Lynn gives everyone an opportunity to learn about multifamily property investments and opportunities that would only be otherwise available for top dealers and those who met the qualifications by SEC. But through B.A.M.F, you can meet with experts and deal organizers who can provide you with great investment options. Holly’s reputation has been earned one transaction at a time with no substitute for hard work and honesty. Take advantage of her deep proven experience in the real estate and investment market by joining her events and mixers. Mixers that are organized by B.A.M.F is sought after by reputable individuals in the investment and finance field. It is your chance to learn and grow.
Love the show? Subscribe, rate, review, and share!
Join the Real Estate Syndication Show Community: