Episode #797
Most people take YEARS to buy their first rental property, but most people aren’t Jenni Vega. Instead of waiting, Jenni bought seven rentals in just three years, with almost unbelievable cash flow on each using what she calls the “golden triangle” method of investing. With this simple framework, Jenni was able to buy undervalued properties in cities that most investors don’t even have on their radar. The properties are cheaper, the profits are bigger, and if you copy Jenni’s method, you, too, can build a six-figure side income stream in just a few years.
Surprisingly, Jenni still keeps her day job as a Cutco closing gift saleswoman. In fact, it’s what got her into real estate. After working with dozens of realtors a week, Jenni learned about buy and hold rental property investing. It didn’t take long before she bought her first property in an area most investors would avoid. But, thanks to careful planning and intentional investing, Jenni turned this cheap property into a $50K/year revenue stream. And that was just the start.
Now, breaking all the “real estate rules,” Jenni is out to prove that almost any property can become a profitable vacation rental. Whether she’s adding game rooms, “redneck mini golf” courses, or cowboy pools, Jenni has turned lackluster properties into top-performing short-term rentals. If you follow her advice, you can do it too!
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Connect with Jenni:
BiggerPockets: https://www.biggerpockets.com/users/jenniv1?utm_source=youtube&utm_medium=description&utm_campaign=none
Instagram:
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Tony: https://www.biggerpockets.com/users/tonyr75?utm_source=youtube&utm_medium=description&utm_campaign=none
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Show notes at: https://www.biggerpockets.com/blog/real-estate-797?utm_source=youtube&utm_medium=description&utm_campaign=none
00:00 Intro
03:16 Quick Tip
03:35 Investing in Unsexy Markets
11:09 Why You SHOULDN’T Quit
19:38 Building Generational Wealth
20:48 Breaking the Real Estate Rules
30:34 Unique Amenities for Higher Rent
47:28 Jenni’s Current Portfolio
52:45 Starting a Short-Term Rental in 2023
55:59 Connect with Jenni!
source
0:00: 🏠 Jenny Vega shares her buying strategy for short-term rentals, focusing on unique markets and affordable properties.
7:01: 🏠 The speaker's job is selling closing gifts to real estate agents, and they found real estate investing through a friend's book about buying and holding properties.
14:06: 🏢 The speaker discusses their experience with real estate investing and the benefits of having a stable income while investing.
20:57: 🏠 Jenny and Rob discuss their experiences with short-term rental properties and breaking rules.
27:23: 🏡 The speaker is discussing the criteria for buying and designing properties for short-term rentals, focusing on the price range and uniqueness of the property.
34:10: 🏠 The speakers discuss strategies for competing in vacation rental markets with heavy competition.
40:32: 🏠 The speaker shares their experience of embracing unconventional ideas and amenities in their Airbnb properties, such as a redneck golf course and a cowboy pool, which have resulted in increased bookings.
47:41: 🏨 Jenny discusses the revenue generated by her short-term rental portfolio and shares her keys to success.
55:10: 🎙 Jenny Vega shares her experiences as an investor, including the importance of giving yourself grace to make mistakes.
Recap by Tammy AI
I love this episode as Jenni and us (me and my husband) are on the same path. We were able relate in this episode and every time Jenni says something, my husband and I say, “Yeah! We do that too!” OR “that’s a good idea” We have 7 properties/9doors (Converted 2properties to duplex, BRRRR) we started investing last quarter of 2019 in our own community, actually found our first two properties in FB marketplace, Now have 3 in PCB, bought one from a realtor near our city and one from an auction. And she is 1000% right on the pool in PCB (we are actually looking on how to do that now), on having friends that invests (we don’t have that yet), etc…. Thank you BiggerPockets for everything you do! We really appreciate it!
How does she manage those properties in different states?
Does she have a property manager taking care of them?
🦊spicy
Gatlinburg has become a horrible place. Not as family friendly. Looking outside that area.
Rob: Love you!! You’re smart and amazing and funny. But STOP with the guest spoilers!!
Disincentivizes us to listen to podcast.
Please take the time to prepare and plan something you can say at the beginning that’s enticing and value add, WITHOUT giving away exactly what they’ll be talking about and what the juiciest tidbits are. 🙂
I would be scared to add a pool to a property because of liability.
Thanks for the shout out Jenny!😊
Isn’t Cutco a MLM?
Plus what you have to pay the bank, cash flows like 5k a month
I think it's time for everyone to take investing very seriously, I can teach any serious investor who wants to earn like I do serious investors only.
I can also answer why no agent every talked to her about investing. First yes most are not investors, second it is a license issue. They would be acting as financial advisors and it would violate the license laws in most states
What's a good short term rental property management company in Milwaukee?
Yet something BP has yet to bring up is what happens when a city/locality bans short term rentals
Great episode. Very relateable story. Giving me inspiration.
Tony “Tony robbins” Robinson.
All those philosophical quotes at the end
Dang Tony, the lack originality was kind of surprising! When you talked about the mario themed gameroom in Florida, then went into what you did on your gameroom, i really expected to hear sonic, streetfighter, pacman, i thought you would have done a different theme than the one in Florida
it would be nice if these guests brought photos of before and after or just generally show off some aesthetics or numbers. Its a good episode though. But having more palpable info would be ideal
Golden Triangle – shout out to the man, Kai Andrew.
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