Podcasts Business Your Financial Pharmacist YFP Real Estate Investing 46: Building a Family Business Around Motel Hacking

YFP Real Estate Investing 46: Building a Family Business Around Motel Hacking

Published: Feb. 26, 2022, 10 a.m.

Stewart Olney, PharmD and Elizabeth Olney, Realtor discuss their real estate investing path from house hacking by renting out a spare room to motel hacking and building a real estate business through hotel and motel investments.\xa0

Key Points From This Episode \xa0

  • Introducing today\u2019s guests Stewart Olney, PharmD, and Elizabeth Olney.
  • Stewart\u2019s journey as a pharmacist and how that ties into his introduction to real estate.
  • Why Airbnb has been an integral tool for Stewart and Elizabeth\u2019s real estate journey.
  • Stewart and Elizabeth\u2019s limited budget after her first pregnancy.\xa0
  • How YouTube initially helped them with doing all the rehabilitation work themselves.
  • How they learned from the mistakes of others as well as trial and error.
  • Why Stewart describes their approach as \u2018house hacking\u2019.
  • How moving into the homes they purchased unlocked access to advantageous financing.
  • The story of how they purchased the motel in which they currently live.
  • How they have used technological innovations and AirBnB services to automate and streamline their check-in and check-out processes.
  • A breakdown of their plan to purchase and run another motel in their area.
  • Insights into commercial loans and how they differ from other loans.
  • Why getting outside help with property management has had such a positive impact on their lives.
  • The resources that have had the biggest impact on their real estate journey.
  • Their top advice for any pharmacist who wants to start investing in real estate.

Links Mentioned in Today\u2019s Episode\xa0