We're talking about short-term rentals, recession proofing your investing, how to "read" the Airbnb market, and how to pivot to strategies that work with real estate investor, best selling author, national speaker, and real estate coach Nancy Wallace-Laabs.
Nancy is a licensed real estate broker in the state of Texas. She has more than 15 years of real estate investing experience, owns several rental properties, and has been a property manager for more than 12 years in North DFW area.
She has written two books - “Winning Deals in Heels” and “Let Me Ask You This” - and a step-by-step manual called The Profitable Landlord System for anyone who is looking for a straight forward, no nonsense approach to finding, funding, and managing single family properties.
Nancy focuses on learning the real estate strategies for any market, including flipping, wholesaling, owner finance and starting an Airbnb business. She has also built a private money network to help fund her real estate deals.
In this episode, we spoke extensively about short-term rental investing, some of the successes and troubles that she has encountered with her of investments in Texas.
Hear how Nancy seized an opportunity to cash in on her property in Arizona while taking a massive risk by moving to Texas without her next steps in place. Soon afterward, she found herself in the world of property management after convincing her future business partner to hire her for a month with zero pay in order to learn the business.
Things we discussed in this episode:
- Recession-proofing your short-term rentals
- How Nancy's career in property management has helped scale her short-term rentals
- Why short-term rentals are essentially a customer service business
- The importance of having multiple exit strategies when you purchase a property
- Regulatory risks for short-term rentals and how to plan accordingly
- Why being a good neighbor is key to short-term rental ownership
- VRBO and Airbnb platform tips and tricks
- Having good insurance for your short-term rental
- The humanity behind the bookings, and why people choose to get away
Fun fact - before Nancy's successful career in real estate, she was a blood bank manager, and could talk quite extensively on that subject!
Get in touch with Nancy:
Website - https://www.nancywallacelaabs.com/
Instagram - https://www.instagram.com/winningdealsinheels
Instagram - https://www.instagram.com/nancywallacelaabs
Facebook - https://www.facebook.com/kbnhomesllc/
LinkedIn - https://www.linkedin.com/in/nancywallacelaabs/
Inspire Conference - https://winningdealsinheels.com/
Join Jason Muth and Attorney / Broker Rory Gill of NextHome Titletown and UrbanVillage Legal in Boston, Massachusetts for another episode of The Real Estate Law Podcast!
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