Creative Acquisitions Mixed with Short-Term Rentals: Lamè's Transformative Journey with Lamè Kinikini - Episode #277

Welcome to the lab. Today, we're honored to host Lamè Kinikini, the visionary owner of Elk Ridge Management, a trailblazer in the realms of creative finance and short-term rentals, boasting a staggering portfolio exceeding $15 million in owned real estate and over $50 million under management.Join us as Lamè unveils his ascent from the trenches of the nine-to-five grind to becoming a real estate maverick. Back in 2017, Lamè embarked on his journey with a burning desire to break free from the shackles of traditional finance. Armed with a history of hustling in sales, Lamè solved the problem of showcasing enough income for property acquisition while maximizing write-offs to mitigate tax liabilities.With determination, Lamè navigated the complexities of real estate finance, overcoming obstacles and pioneering the fusion of Airbnb and furnished rentals, leading to the creation of Elk Ridge Management.Today, Lamè stands as a beacon of entrepreneurial ingenuity, blending creative finance with the short-term rental market. In this episode, he shares invaluable insights into financing strategies, the power of continuous self-education, and the keys to building a successful management company in the competitive real estate world.If you're seeking to learn creative ways to get into real estate without substantial resources or property, this episode is a must. Tune in now and start taking control of your financial future!HIGHLIGHTS OF THE EPISODE:13:00 Lame talks about the science in selling20:21 Lame talks about self education and why we should invest in ourselvesKEEPING IT REAL:05:30 Financing when you can't show enough income07:24 Creative Financing: a better way of acquiring without the tax bill12:33 The value of understanding the science in selling19:41 The importance of self education and investing in yourself38:48 Giving yourself permission to take action44:40 Why you pay for a mentor47:48 Management company as a way to partake in real estate withoutmoney or your own property51:56 How to position your company to be above the marketplace58:33 Adding Creative financing to the short term rental model 01:00:00 Buying from sellers directly through creative financing01:05:12 Underwriting with long term rentals in mind01:07:19 The value of mentorships, coachings, and creating a community01:09:57 We are OUT!CONNECT WITH THE GUESTWebsite: https://elkridgemgmt.com/Linkedin: https://www.linkedin.com/in/hailamekinikini/Instagram: https://www.instagram.com/hailamek/?hl=enLinktree: https://linktr.ee/lamekinikiniTiktok: https://www.tiktok.com/@lamekinikini#CreativeFinancing #ShortTermRentals #RealEstateInvesting #InvestmentStrategies