Unlocking the Potential of Vacation Rentals: Expert Advice from Josiah Smelser

Send us Fan Mail"You can learn anything you want on YouTube. It's like going to college for free." Welcome to the Investing RN podcast! In this episode we are joined with Josiah Smellzer. Josiah is a real estate investor, host of the Daily Real Estate Investor Show, and author of the book "Dream It and Build It: How to Crush Your Real Estate Investing Goals." Josiah has built a successful portfolio of vacation rental cabins in the Smoky Mountains and has extensive experience in real estate investing. Josiah shares the importance of valuation skills and the value of having a real estate license. Josiah discusses his journey from corporate America to successful real estate investing. Josiah shares his experiences with house hacking, flipping properties, and transitioning to the vacation rental market. He highlights the benefits of house hacking for new investors and provides insights into the vacation rental market. Discover how you can save money, leverage tax benefits, and grow your real estate portfolio. Tune in now!🔑Key Takeaways:House hacking is a great strategy for new investors to save money and build a real estate portfolio.Valuation skills are crucial for successful real estate investing.Having a real estate license can provide additional income opportunities and access to the MLS.⏱️TimeStamps[0:00]Introduction to Josiah[3:22]Benefits of having a real estate license[5:05]The importance of valuation skills in real estate investing[8:09]Using house hacking to generate equity for future investments[11:06] Partnership and initial success with the BRRRR strategy[12:07] Shifting strategy to focus on vacation rental cabins[17:00] Details of a successful deal with a foundation problem[22:17] Challenging to find wholesale deals with enough profit potential[25:18] Used hard money and private money to finance deals[30:19] Considering other real estate ventures like flipping and wholesaling[30:50] Exploring opportunities for commercial properties[31:16] Discussion about property management fees and slowing down in the market[38:47] Description of the size and cost of the cabins[41:58] Different trends in city Airbnb rentals versus vacation rentals[47:21] YouTube as a top financial resource for nurses[54:22] Tax benefits of investing in real estate for medical professionals[56:24] Importance of surrounding yourself with like-minded peopleConnect with Josiah hereBe sure to follow us on instagram hereSubscribe to our YouTube channel hereGet “The 5 Key Lessons for New Real Estate Investors” Here For Free :) 🔗 Mentioned resources Dream it and Build it How to Crush Your Real Estate Investing Goals. Be sure to follow us on instagram hereSubscribe to our YouTube channel here Click the link, share your contact details, and we'll help you get started on your investment journey. Start now!