Ep 23 - How to 10X Your Rental Income; From $600 to $6,000/Month with Addison Ricci

Published: Oct. 26, 2020, 1 p.m.

b'GUESTS BIO\\n\\nAddison Ricci - is a new real estate investor with huge aspirations. \\xa0After spending nearly a decade in video production he decided to try his hand at real estate investing to build passive income. \\xa0He 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.\\n\\n\\n\\nHIGHLIGHTS OF THE EPISODE\\n\\n04:30 \\xa0Addison\\u2019s background\\n\\n07:52 \\xa0What Addison learned ever since they started the business in February 2020?\\n\\n09:16 \\xa0The dynamic for Addison\\u2019s STR operations.\\n\\n10:44 \\xa0The types of software or technology that they are using to help streamline their operations.\\n\\n11:46 \\xa0They\\u2019re doing the Airbnb platform exclusively.\\n\\n13:14 \\xa0What are their plans/strategy to go from 2 units to 30 units.\\n\\n15:52 \\xa0How Addison rent their 2 properties in one lot.\\n\\n16:40 \\xa0Their plan/goal for their next property.\\n\\n17:41 \\xa0How much would Addison get from a long term rental compared to a short term rental.\\n\\n18:59 \\xa0Whatever real estate strategies you use always make sure it still cash flows.\\n\\n20:00 \\xa0How Addison enrolled his Mother in the short term rental business.\\n\\n23:53 \\xa0Some of the things that they do to make their listings stand out.\\n\\n26:06 \\xa0Who\\u2019s doing the cleaning and the supplies.\\n\\n29:38 \\xa0Addison\\u2019s definite goal in short-term rentals.\\n\\n30:53 \\xa0Will Addison go full time on real estate or just as a side portfolio and still do his full-time job?\\n\\n32:48 \\xa0Putting all the eggs to this aspect of real estate.\\n\\n35:21 \\xa0Where can people get in touch and see Addison\\u2019s properties.\\n\\n35:46 \\xa0Addison\\u2019s number 1 secret for success in short-term rentals.\\n\\n36:33 \\xa0Addison\\u2019s best advice to start your own short-term rental business.\\n\\n\\n\\nNOTABLE QUOTES (KEY LESSONS):\\n\\n"We\'re not just buying houses and making them fit. It\'s like building this stays that\\n\\nis intended for just being perfect stays." - Addison Ricci\\n\\n"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\\n\\n"Just staying flexible with these stays, I think is really key." - Addison Ricci\\n\\n"You can create a project with your family and it\'s a way that you can create\\n\\nsomething that can change the life of everybody, now." - Emanuele Pani\\n\\n\\n\\nCONNECTING WITH THE GUESTS\\n\\nInstagram: https://www.instagram.com/straddison/\\n\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'