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Unfolding Nature Shop: Unfolding Nature: Being in the Implicate Order

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OfflineOsmote
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Registered: 04/27/20
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Last seen: 9 months, 10 hours
Re: Careers, businesses, or good ideas to make money [Re: jakemp]
    #28283955 - 04/18/23 03:34 PM (9 months, 5 days ago)

You could look into rental arbitrage?

Basically, you find a landlord that's willing to let you sublet. You furnish the unit (this constitutes most of the upfront cost). Then you rent it out as either a short term rental (less than 28 days) or medium term rental (more than 28 days, less than a year).

It becomes more of a hospitality business/job than real estate investment. In the beginning you clean the units your self and handle the guest communications. As you scale, you start to build out a housekeeping company and hire someone else to manage guest communications. Ultimately, you can expand the housekeeping company outside of just your rental arbitrages, and you can use your setup to run other people's vacation houses for a cut of the profit.

Ideally, you negotiate with the landlords to get multiple units on a 3 year lease for cheaper rent, no deposit, and a couple months of free rent up front. This way you have a better profit margin and can make back most of the cost of the furniture in the first couple months in order to keep growing the business.

A lot of the success of such a business depends on what your local laws are like and what the current short term/medium term rental market is like. You can find a lot of furniture for cheap on Facebook marketplace or if you live by a college then you can typically pick up furniture for free at the end of the semester.

I have a small scale version of what I just described that makes ~$200/mo/unit, but that's largely because I only do medium term rentals which have a lower profit margin.

Don't waste money on a course about this sort of stuff. You can find everything you need to know for free if you search around.


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Unfolding Nature Shop: Unfolding Nature: Being in the Implicate Order


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