313. BRRRR Method 101: Tips for Success in Long-Term Rentals with Jessie Lang
Today’s expert guest is Jessie Lang, a buy-and-hold investor with over 70 (!) rentals in Columbus Ohio – most of which she’s acquired since 2021. She has used the BRRRR method to acquire her portfolio with little to none of her own money left in the deals. Now, she’s committed to teaching others how to do the same – and we get a great outline of it today.
Jessie walks us through the BRRRR Method, sharing the real-life math on an active project she’s working on right now to illustrate exactly how it works and why it’s been so successful for her. Of course, we also compare and contrast how this method applies to STRs, where it works and where you might need to tweak your approach.
We also go over her process for qualifying residents, because if you are even considering mid-term rentals (let alone long-term), you need to understand that you are no longer hosting guests. You are hosting residents, and specific laws kick into place that you might not be used to.
(00:01:44) #STRShareSunday: @lakearrowheadmanor
(00:05:37) Jessie Lang’s Path to 70 Rentals
(00:10:42) BRRRR Method 101
(00:16:34) Success Tips & Common Beginner Mistakes
(00:27:18) BRRRR-bnb: Does it Work for STRs?
(00:29:34) Effective Resident Communication Practices
(00:35:34) How to Qualify Potential Renters
(00:48:27) Jessie’s Long Term Plan for the Future
Resources:
- Visit thanksforvisiting.com/workshop to watch our Hosting Business Mastery Method workshop!
- Airbnb Essentials Checklist: hostchecklist.com
- Unlocked Guide: Unlocked Guide
- #STRShareSunday: @lakearrowheadmanor
Thanks for Visiting is produced by Crate Media.
Mentioned in this episode:
Hostfully | Go to https://www.hostfully.com/tfv and use TFV100 to get $500 off your subscription.
Hosting Business Mastery Method | Join us for our live, free, host masterclass and learn how to OWN your digital real estate!