Table of Contents:
Short-Term Rental Book Recommendation 1: Rich Dad Poor Dad by Robert Kiyosaki
Short-Term Rental Book Recommendation 2: Short-Term Rental, Long-Term Wealth by Avery Carl
Short-Term Rental Book Recommendation 3: The Book on Rental Property Investing by Brandon Turner
Short-Term Rental Asset Recommendation 4: SHORT TERM RENTAL SECRETS by Michael Sjogren
Transparently, we were never really avid nonfiction readers. Given the significance of this decision, we wanted to ensure that we weren't overlooking anything important. For the first time since college, we delved into a couple of books and watched a few YouTube videos. While we believe our previous posts provide sufficient information to make an informed decision, if you're still undecided and seeking further insights, this post will outline the resources that we thought were worthwhile.
Short-Term Rental Book Recommendation 1: Rich Dad Poor Dad by Robert Kiyosaki
Amazon Summary: Today Rich Dad Poor Dad consistently ranks among bestsellers around the world in the categories of Personal Finance, Parenting, and Investing, has been translated into 38 languages, and has sold more than 40 million copies worldwide. Rich Dad Poor Dad is Robert's story of growing up with two dads — his real father and the father of his best friend, his rich dad — and the ways in which both men shaped his thoughts about money and investing.
The book challenges the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you. In many ways, the messages of Rich Dad Poor Dad, messages that were challenged and criticized 25 years ago, are more meaningful, relevant, and important today than ever.
Why we liked it:
We actually got this book for Christmas from Nick’s family around the time that we were moving to Seattle, without reading this book we likely would have sold without considering renting.
This book taught us to view our home as a potential source of income and shifted our mindset from assuming a liability into a self-sustaining and positive cash flow asset.
Kiyosaki helped us think like a boss, showing us that renting out our place would be like running our own small business.
Short-Term Rental Book Recommendation 2: Short-Term Rental, Long-Term Wealth by Avery Carl
Amazon Summary: Airbnb, Vrbo, and other listing services have become massively popular in recent years―why not tap into the gold mine? Whether you’re new to real estate investing or you want to add a new strategy to your growing portfolio, vacation rentals can be an extremely lucrative way to add an extra income stream―but only if you acquire and manage your properties correctly.
Traditional rental properties are a great way to create wealth, but short-term rentals can bring in five times more cash flow than long-term rentals. Avery Carl, the CEO and founder of The Short Term Shop, will show you how to choose, acquire, and manage a short-term rental from anywhere in the country, plus how to avoid common pitfalls and overcome obstacles that keep many would-be investors from ever getting started!
Why we liked it:
Carl lays out the roadmap to STRs, showing us every turn and shortcut to success without the confusing jargon making this endeavor seem more approachable.
There were several real stories scattered throughout the book, making it real.
After finishing the book, we felt inspired and even more excited.
Short-Term Rental Book Recommendation 3: The Book on Rental Property Investing by Brandon Turner
Amazon Summary: Real estate investing can provide a safe and fast path to financial freedom, and this business best seller will show you exactly how to get there. With in-depth advice, The Book on Rental Property Investing imparts practical and exciting strategies that real estate investors across the world are using to build significant cash flow with rental properties. Brandon Turner - active real estate investor, best-selling author, and co-host of the BiggerPockets Podcast -
breaks down the time-tested strategies he used to build his own wealth in real estate. Whether you are just getting started or already own hundreds of units, you will learn how to create an achievable plan, find incredible deals, analyze properties, build a team, finance rentals, and much more - everything you need to become a millionaire rental property investor.
Why we liked it:
This book wasn’t just inspirational fluff; it provided a concrete plan. He provided helpful tips to assess a property's probability for success and how to deal with tenants.
We liked the valuable lessons he shared from the mistakes he made.
Turner touches on how there is not a one-size-fits all approach to real estate investing and provides helpful insights that helped us align investing with our goals and lifestyle.
Short-Term Rental Asset Recommendation 4: SHORT TERM RENTAL SECRETS by Michael Sjogren
Summary: This YouTube channel focuses on helping both new and seasoned real estate investors to launch, automate, and scale their short-term rental portfolio. The content is aimed at fast-tracking the journey to financial freedom by potentially increasing rental income 2-5x.
Why we liked it:
The videos are quick, digestible, and engaging.
We felt like Sjogren provided approachable and practical information specifically for people hesitant to start a short-term rental.
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