Show notes
GUESTS BIOAddison Ricci - is a new real estate investor with huge aspirations. After spending nearly a decade in video production he decided to try his hand at real estate investing to build passive income. He currently owns 2 short-term rental properties in Knoxville, TN (while living in Florida), and plans to expand and acquire more over the next couple of years.HIGHLIGHTS OF THE EPISODE04:30 Addison’s background07:52 What Addison learned ever since they started the business in February 2020?09:16 The dynamic for Addison’s STR operations.10:44 The types of software or technology that they are using to help streamline their operations.11:46 They’re doing the Airbnb platform exclusively.13:14 What are their plans/strategy to go from 2 units to 30 units.15:52 How Addison rent their 2 properties in one lot.16:40 Their plan/goal for their next property.17:41 How much would Addison get from a long term rental compared to a short term rental.18:59 Whatever real estate strategies you use always make sure it still cash flows.20:00 How Addison enrolled his Mother in the short term rental business.23:53 Some of the things that they do to make their listings stand out.26:06 Who’s doing the cleaning and the supplies.29:38 Addison’s definite goal in short-term rentals.30:53 Will Addison go full time on real estate or just as a side portfolio and still do his full-time job?32:48 Putting all the eggs to this aspect of real estate.35:21 Where can people get in touch and see Addison’s properties.35:46 Addison’s number 1 secret for success in short-term rentals.36:33 Addison’s best advice to start your own short-term rental business.NOTABLE QUOTES (KEY LESSONS):"We're not just buying houses and making them fit. It's like building this stays thatis intended for just being perfect stays." - Addison Ricci"Keep it simple especially at the beginning. Kind of, learn the ropes, do what you're doing, really figure out how to find/tune your operations and your systems. Then if you want to expand go nuts but it's not an essential thing." -Michael Sjogren"Just staying flexible with these stays, I think is really key." - Addison Ricci"You can create a project with your family and it's a way that you can createsomething that can change the life of everybody, now." - Emanuele PaniCONNECTING WITH THE GUESTSInstagram: https://www.instagram.com/straddison/ Learn more about your ad choices. Visit megaphone.fm/adchoices
