Generating Wealth in Short-Term Rentals with Ottawa's Genevieve Walton

Genevieve Walton is an experienced real estate investor based in Ottawa with a property management company that serves short-term and long-term tenants. She is on the Self Wealth Real Estate podcast today to talk about her journey in real estate investing and the lessons she learned as she grew her real estate portfolio and built her property management businesses.   Listen now to learn more about Genevieve, how she grew in real estate investing, and what the markets look like for short-term and long-term rentals in Ottawa!    Key Talking Points of the Episode   00:00 Introduction 01:06 What is Genevieve's background? 03:28 What was it like for Genevieve to transition into entrepreneurship? 05:29 How did Genevieve start her short-term rental business? 08:46 What factors determine the value of short-term rental property management services? 11:36 What is happening to the short-term rental space today? 16:02 When did Genevieve decide to build a long-term rental property management business? 20:15 What are the differences between managing short-term and long-term rental properties? 25:21 How did Genevieve build her rental portfolio? 32:05 What is the importance of setting your buying criteria as an investor? 34:29 How can location affect the value of your rental portfolio? 40:52 Why should new real estate investors consider starting with house-hacking? 44:35 How much can you make if you're house-hacking today? 48:54 What was the best deal Genevieve ever did? 55:44 What is the worst deal Genevieve did? 01:01:54 What lessons did Genevieve learn from her worst deal? 01:05:23 What has changed with Genevieve's approach to real estate? 01:07:01 What is Genevieve's advice for her younger self? 01:09:05 What is the most overlooked or overhyped strategy today?   Quotables   "It's not that people are mass-producing these Airbnbs. The only time you sort of start to see that happen is when you have corporations that have been burned by the landlord-tenant board over and over again, so they start to move into these markets."   "The good part is because I buy short-term rentals and long-term rentals, whatever's gonna make the numbers work at that point, I'll stick in there to make that work."   "Do the work, get dirty, do it yourself – whatever you can do to save those costs, especially at the beginning. That's how I think you'd see generational wealth that's really coming in."   Links   Website: Flex Property Development https://flexproperty.ca/   Website: Short and Suite BNB https://shortandsuitebnb.com/