How To Make Your First $100,000 Startup With $100

Rental arbitrage 101 for beginners: how to start earning real estate rental revenue without owning a property. Enjoy! 🔥 Personal Finance Course & Investing Programs (Coming Soon) https://www.michael-curran.com/finance/join🚨 FREE: Use Coupon Code 🤠MICHAEL🤠 🚨🔥 🔥🚨 These are educational courses; past performance does not guarantee future results.

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Rental arbitrage is renting a property long-term from a landlord and renting it out short-term, profiting from the difference between the rental rates. It's something you can start in a few weeks for almost no money down that can potentially turn into a six figure business in under a year or two and you can grow it into the seven figures and above with persistence, some luck, and developing your skills.

00:00 Intro

01:20 Setup LLC
Filing paperwork for your first LLC can be cheap (averages around $100) and you'll wait about a week to get your EIN, which is necessary to open a business bank account. A registered agent is a must along with a business license. See the video for more details.

03:58 Research Stage
Don't waste the time you're waiting for your business formation documents: check your ability to borrow and prepare for your first deal. Be professional: choose a business logo and cards plus prepare by analyzing long and short term rental revenue and costs in your area. You may be able to househack or sublet your current residence if you have written permission from the owners. Identify properties available for rent (e.g., apartments.com, hotpads, zillow, trulia, realtor, etc.) that may be profitable (e.g., Airbnb, VRBO, Booking.com, Expedia, Marriott, Google, etc.) and prepare your pitch.

07:00 Pitching Your 1st Deal
Present your pitch and negotiate with the landlord. Sign a lease with an addendum and place utilities in your business' name. More tips are in the video.

09:50 Before Move In
The goal is to launch as fast as possible, so plan your furnishing in advance, placing most emphasis on the quality of sleep (good IKEA mattress and quiet rooms [Walmart blackout curtains are fine]). Second-hand luxury stores are your friend, but you may need to order online if you are going to do this at scale. Automate with electronic WiFi smart locks to send guests codes that only work during their stay.

11:24 Launch
Speed is important, but DIY at the beginning so you don't scale mistakes. Friends, trucks, and organization help. Photos are as important as the quality of your guests' sleep. Short term rental insurance matters, e.g., Proper / StateFarm. Advertize online on short-term rental websites - some ground work can be done before move-in.

13:07 Hiring, Automation & Scaling
I discuss hiring cleaners, maintenance, and teams that can manage your business along with other strategies to automate and scale your business.

The more you automate and hire, you'll tend to find you're trading profit margin for your own time. It becomes more passive that way. At the end of the day, you get to decide how big you want to grow, how much energy you want to devote, and whether you want to do it full time or part time.

Let me know in the comments if rental arbitrage is something you're thinking of trying. Best of luck!

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