Real Estate and Airbnb Learning Resources
Have you been wanting to get into owning Real Estate (RE) or Airbnbs but don’t know where to start? Do you want to start with learning more about how to do it, but don’t know how to shuffle through the hundreds of books, podcasts, youtube videos, and courses online?
Well. Here’s a starting point. It’s not all-inclusive, but it’s an honest look into what helped me along the way as I was getting started and continuing down my journey. There’s dozens of books I read which helped in one way or another I can’t recall at the moment, as well as more people I can count who were either supportive or had a nugget of information that really pushed me forward. Either way - enjoy below!
1. Books
Rich Dad Poor Dad: I can’t say that I love how this book is how I got started. First, because it was ‘highly recommended as a must read by an ex” – well damn he was right and second, I don’t really agree with everything Mr. Robert has to say. Nonetheless, this is the foundation, the backbone, of why I got started and everything I’ve learned since. It is the starting point for many and I’d be remiss if I didn’t mention it, let alone put it first and foremost.
5 Day Weekend: I love this book. Stories on individuals who built themselves a 5 day weekend. One reason I like their RE stories is this book agrees that RE is not fully passive. You still need to find tenants, manage the Airbnb, or find/work with a property management company to do so. Not a ton of work, but a few hours or 2 days a week is a decent estimate if you’re doing a lot of it yourself (especially at the beginning).
I’m sure to add to this post as I review my list of read books over the year and podcasts I’ve enjoyed. With real estate , I’ve read very few books dedicated 100% towards RE. Rather, they talk about building wealth as a whole and using RE to fill the gap until retirement, or as an alternative form of providing for retirement. Always read and keep an ear out on how someone’s story could be applied to you as well.
2. Podcasts
Firedrill Podcast: I love J. She is a fantastic host and asks all the questions I would want to ask, probably verbatim. She has a few episodes on Airbnb hosts and a few more on RE individuals. I’ll try to pull them in as I re-listen and see what you all may prefer!
How to Money: This is how I initially learned everything I know about finances, retirement, and a little about RE. They go through so many key topics in a non-excluding way. I started at episode 1 (back when there were maybe 30 episodes) and enjoyed most of them since. There are a number of gems in the RE space like evaluating tenants and evaluating properties. These guys are worth a listen.
Episodes: Making a Living on Airbnb with Zeona McIntyre – Episode 253
Bigger Pockets Podcast: Honestly, I listened to a few episodes but this was never exactly for me. However, I know a ton of people out there love these guys and you should see if they fit your portfolio goals.
Mr. Money Mustache: Okay – this is a blog but this guy is still awesome. He was the first guy to really get into the blogosphere and talk through retiring ‘significantly’ early. One way he suggests doing it through is by a number of posts dedicated towards RE. Start with his ‘Start Here’ button and then search through RE articles as needed.
Content: Start Here Post | House Hacking
3. Friends, Family, & Colleagues
A KC Friend: Has 10+ KC properties, all single-family rentals. Explained LLCs in extreme detail when I had never known why I should possibly use one. He then walked me through each step ensuring I got one and was using it right.
My husband’s friend’s mom: Has a lake house in Table Rock Lake which has a similar market to Lake of the Ozarks. This is the first person I talked to that actually had an Airbnb Lake Home and this family was the singular source of helping me feel fully confident and ready to jump in because they confirmed the approximate price and number of nightly rentals, I was estimating wasn’t crazy. They took all this time to talk to me during a wedding as well – I could not be more grateful.
Multiple Work Colleagues: At my consulting job, we were fortunate to have a group called Wealth Creation where we talk about benefits such as how to use and maximize your 401k and Employee Share Plan. Through this, I found other individuals who were landlords and set up 30 minutes with them to ask what I didn’t know at the time, or how they felt comfortable owning properties, having so much debt, and being a landlord. Each were so kind in talking to me and making me feel like I could do it too.
Always be willing to meet new people and when they ask ‘what do you do’ say I do (whatever your job is) AND Real Estate Investing (or I’m looking to also get into Real Estate Investing. You never know what experience those you meet will have.
It’s definitely possible to build your knowledge different ways and I’d bet there are few out there that used my exact combo of books and podcasts to get ready, but this is a starting point. Continue to read, listen in, and ask questions, so you can learn before you jump in and as you’re going along and need that continued boost of motivation.