373: Wiping Out $130K of Debt in ONE Year With THIS “Steady” Real Estate Business w/Nicole Rutherford

Building a real estate business is one of the best ways to unlock financial freedom, but that’s not to say that every strategy is the right fit for you. Today’s guest had to strike out multiple times before arriving at the perfect real estate investing strategy!

Like many new investors, Nicole Rutherford got her start in the rental arbitrage space, where she would bring in at least $1,500 per unit each month. But once landlords decided to raise rents and more competition arrived, her profits evaporated, and her Airbnb bookings took a nosedive. Suddenly, she was hemorrhaging money. With $130,000 in debt, Nicole was forced to cut her losses and start over. Rather than giving up on real estate investing, however, she simply pivoted to another strategy. Just one year later, Nicole is debt-free and runs a thriving Airbnb co-hosting business with fourteen units!

Whether you’re new to the world of real estate or looking to pin down your strategy, there’s plenty of helpful information to glean from this episode. Tune in as Tony and Nicole discuss the differences between arbitrage and co-hosting, the different services that co-hosts provide, and what to include in your co-hosting agreements. You’ll also learn how to leverage your network to find your first clients and how to build trust with property owners!

In This Episode We Cover:

Building a profitable real estate business (and common mistakes to avoid!)

How Nicole climbed out of $130,000 in debt with Airbnb co-hosting

Finding your first clients through your own real estate network

The importance of maintaining transparency with guests and property owners

Key terms and conditions you MUST include in your co-hosting agreement

How to pivot to a new investing strategy when one isn’t working

Why you DON’T need to hit a home run on your first real estate deal

And So Much More!

Links from the Show

Find an Agent

Find a Lender

Ashley's BiggerPockets Profile

Ashley's Instagram

Tony's BiggerPockets Profile

Tony's Instagram

Real Estate Rookie Facebook Group

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Submit Your Real Estate Rookie Question!

Apply to Be a Guest on the “Real Estate Rookie” Podcast

Making $140K/Year & Retiring His Wife in 18 Months with “Rental Arbitrage” w/Keron Bryce

How to Start an Airbnb Business in a Brand New Market

Rookie Reply: How to Choose Your Real Estate Investment Strategy

Connect with Nicole:

Nicole's BiggerPockets Profile

Nicole's Instagram: @_nicolerutherford_

Nicole's LinkedIn

Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-373

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