79: Managing Your Own Short Term Rentals with Julia Spencer

Julia Spencer used to invest in long-term rental homes, but decided to switch over to short-term rentals a few years ago. She shares with Jason what she has learned over the years while self-managing the properties she owns, and gives some tips on how to avoid pitfalls that she experienced. The fears of an all consuming time commitment, never being able to go on a vacation, and having your home destroyed by guests are explored, and we find out the true income potential of short-term rentals. Key Takeaways: 2:56 Julia has about 30 listings for her 7 homes 7:09 Julia's portfolio prior to starting short-term rentals 9:53 The importance of the review system in the short-term rental market 12:58 Julia started her short-term rental career by moving out of her own house and renting it out, and got rid of some of her long-term rental homes 16:59 Short-term rentals and problems with neighbors 21:23 Red flags (and green flags) for properties you're considering for short-term rentals 25:51 What team members do you need in order to self-manage? 31:24 Whether Julia has ever looked into using (or used) a property manager 34:41 How Julia streamlines her operations 38:21 A real life example of what kind of profits Julia makes on her properties   Website: www.JuliaMSpencer.com   Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com