$30K/Year Cash Flow from 2 Properties by Doing What Other Investors Won’t

Ashley:
How do you make your Airbnb stand out in today’s market? Is it too saturated to be successful? Of course not. Katie Cline has built a portfolio of two Airbnbs and what sets ’em apart are the high end touches that keep the guests coming back from luxury amenities to personalized details. Katie has mastered the art of creating an unforgettable guest experience. If you’ve ever wondered how to elevate your own short-term rentals and increase bookings, this episode is packed with insights you won’t want to miss. We are going to discuss how Katie went from purchasing her first property in London to two short-term rentals in the us. Then why she believes customer service is just as essential in real estate as any other business. Lastly, how social media impacts the success of her portfolio. Welcome back to the Real Estate Rookie podcast. I’m Ashley Kehr, and sadly, I am not joined by Tony Robinson because he’s busy being a real estate investor, but he’ll be back next week. Welcome to the podcast where every week, three times a week, we bring you the inspiration, motivation, and stories you need to kickstart your investing journey. Let’s give a big welcome to Katie Klein.

Katie:
Thank you, Ashley. Such a pleasure to be here with you today.

Ashley:
I am very excited to have you on because as I was telling you before the show started, I have a property right now that I feel like could use some jazz and get those nightly rates up, and hopefully we can talk about that during the episode.

Katie:
Absolutely.

Ashley:
Okay, so Katie, to set the tone here, what was life like for you before you started investing in real estate?

Katie:
Yeah, I’m actually a fairly new real estate investor. I purchased my first property in March of 2021, and that was actually in the uk. I was living in London with my husband at the time, so we bought a small apartment or as the Brits would say, a flat. But I come from a deep background of hospitality. I led global PR and communications for some of the world’s best hotel brands. That’s brands like Ritz Carlton, Ritz Carlton Reserve, W Hotels, the Luxury Collection, St. Regis and many more in both New York and in London. So applying that hospitality background to short-term rentals was something I always wanted to do. And once we moved back to the states, we acquired now two in the last really year and a half short-term rentals. And really what has shocked me the most in the space is a lot of people will get into short-term rentals for the real estate investing aspect of it, which we all know is an incredible reason to jump in. But I really believe once you open your doors to your first guest, you shift from real estate investor to host, you shift into hospitality. So from my actual career background, really distilling those actionable insights and tips that all of us can take to make our real estate investments that much stronger and drive those high ADRs.

Ashley:
Katie, that is awesome and congratulations on acquiring those three properties. The London one sounds so interesting and I feel like we could probably do a whole episode on investing out of the country and what that was like. But today I want to focus on your US based investments. So tell us about the first property you purchased and what was your strategy going into that property?

Katie:
Absolutely. So we were moving back to the US after spending about five and a half years living abroad. Unfortunately, my mother is very sick, so we wanted to be back in the area to be able to help her. And my dad, they live on Long Island, which is where I’m from originally. So we thought we’re going to go back to the New York City area and real estate’s very expensive here, and we weren’t really sure what our long-term plan was. So we thought maybe this is the moment that we can actually try this short-term rental thing out. My husband and I had been camping in an area called Lake George, which is about three and a half hours north of New York City pretty much every summer since I met him. And it was always, wouldn’t it be nice if one day we could own a place here?
So even though we had bought the place in London and when we bought it, we knew we’re not going to live here forever. The plan is to long-term rent it. I think it was really this first short-term rental property that made me feel like, okay, I’m doing real estate investing now. It’s how I found bigger pockets and really started reading all of the books, listening all the podcasts and trying to educate myself on this space. So it was before we moved back, we were moving back at the beginning of 2023, and it was in October of 2022 that I saw our property go live on Zillow. It just looked magical. It was a chalet, it was close to the lake, but really secluded on six and a half acres and I could just see its potential straight away. And it sat on the market and it sat on the market and I thought, okay, if we get to Thanksgiving, surely it will still be available by the time we arrive back.
And of course it went off the market and I thought, it’s going to come back, it’s going to come back. And luckily that deal fell through and it did come back on the market in December. So it was literally the third day we were back in this country still jet lagged, dragging our nine month old daughter to go see this property. Within a few hours we had made an offer and it was accepted and we kind of looked at each other like, all right, I guess we’re doing this. So it was a real moment of how can we apply the background of hospitality and all the learnings I had from hotels to make this property stand out from the competition.

Ashley:
So with this first property, this chalet, you’ve got the property now, kind of give us a rundown what the actual numbers were on the property and how you were able to fund it.

Katie:
Yeah, absolutely. So we were lucky to be able to do a traditional conventional mortgage and actually we looked at Air DNA and trying to understand what type of a DR we would be able to get in terms of when we were renting it out. And to us that was kind of like best case scenario, right? I believe in having a plan for worst case scenario too. And I thought, okay, I can cover this monthly mortgage amount if no one ever comes and rents it. And I thought, best case scenario, we’ll cover our costs and I’m very happy to say cash on cash. We’re looking at about 10.5% right now. Our second property doing much better than that thankfully as well. And I think that’s part of the learning process. But we also bought at a time when interest rates were kind of higher. I mean I still hesitate to even say high because we know historically how high they can get, but that property we have at a 6.125%. So if we can be performing as well as we are right now at that interest rate, I’m hoping that at some point we’ll be able to refinance and then see the profits go up even further

Ashley:
With this property. You said that when you were looking at Zi and you looked at the property, you could just imagine the potential it had. So what are some of the unique things you did to this property to make it a standout listing?

Katie:
It’s really funny because if I think about long-term rentals versus short-term rentals, I think of long-term rentals as you almost need a white box. And I don’t mean actually physically white. I mean proverbially white in the sense that when a prospective tenant walks in, you want them to be able to envision their life and their stuff in that space. Short-term rentals I see as quite the opposite. You want a place with character, they’re only staying for a few days. It absolutely should still be comfortable and functional, but you want it to have a bit of personality. And our first property in Lake George just had that right away. Now I really had to just do a lot of stripping away from that property. They had a lot of floral curtains and floral rugs and bad furniture and things that were just distracting from the beauty of the bones that existed.
Even something as simple that all of the walls were painted off white instead of a clean wipe, things like that, that just instantly brought it up to date, but still really maintained the character. Whereas our second property, which is about 40 minutes south in Saratoga, a place you’re probably familiar with as well, having gone to school in Albany, that house was a bit more like cookie cutter suburban house. So really I thought my goal there is how do I add the personality into that, whereas the first property, I just need to strip things away to let it actually sing.

Ashley:
Stay tuned after a break. For more from Katie, if you’re hoping to invest remotely, you will need a team to help manage your properties. Go to biggerpockets.com/property manager to learn more. Learn more. Okay, let’s jump back in. What about the services for these two properties, along with just making it a unique property to at and to experience? What are some of the services that you have provided that would be different from a standard short-term rental?

Katie:
Yeah, I wouldn’t say that I am a personal concierge who’s holding their hand throughout their stays by any means. I am a remote host based in Astoria Queen, so about three hours south of both properties. But I like to think about certain things that hotels do really well and how can I apply that to my business. So first and foremost, when I was working for a brand called La Meridian, we did some research that found the first 10 minutes of a guest really impacts their entire perception of their trip. So that to me as a short-term rental owner is like, did I give you good enough directions or did you have to drive past the house a few times before you found it when you drove up the driveway, if you arrived at night, did the light come on and did it stay on long enough for you to unpack the car or get the baby out of the car?
Are you fishing around to try and find a physical key or do you have the lockbox code that I gave you straight away? And then of course, once people walk through the door cleanliness, I think if you walk in and you see something is dirty or out of place, you then put on your critical eye and you start looking at every crevice and you’re just setting yourself up to start from a place of recovery as opposed to people walking in going, this is great, and then they’re kind of more relaxed in the space. What we do also try to do is provide over and above on amenities in terms of I leave a handwritten welcome note for everyone. We do a bottle of local wine, which I know the SDR community is divided upon if you should or shouldn’t leave alcohol. But all of our renters are at least over 25 years old, so a bottle of local wine.
We also do a type of coupon to allow the guests to go back into the winery and try more wines on a buy one, get one type purchase. We have created a branded tote bag because we’re close to the lake. So since we provide lake towels for people to be able to bring down to the water, we wanted to give them a tote bag to be able to bring those down with them. And the fun thing is seeing our guests tag us in social media long after their stay of still using the tote bag. So it’s little things like that. It’s by no means am I sending them hand discording them to Michelin’s star restaurants by any means, but I think it’s that personalization and that eye for details that makes people feel really looked after.

Ashley:
There’s this hotel called the Lake House Canandaigua, and I want every single thing that is branded by them because, and that is just the thing. As soon as you were talking about that, that’s the first place I thought of, and I just love every little detail. A disposable coffee cup has their logo on it, just like any piece of glass, there’s a little etching of their logo in it, and it’s just this really unique and almost like a warm cozy feeling that you are part of this brand now that you’re getting this experience. So I love that idea of the tote bag. It’s just something that I’m sure you probably could just go online and order a batch of them,

Katie:
And they’re not very expensive to do. We had actually first made them for our wedding because we thought, oh, instead of giving a throwaway bag, let’s make a tote bag for everybody. They’re probably, I don’t know, three to $5 a piece. And I think that is where in the short-term rental industry, you see people struggling to pay money into it, but it really I think affects the a DR. Now, am I on my Airbnb page or on my personal social pages being like, look, if you stay with us, you get a free tote bag. No, absolutely not. It’s those little surprise and delight moments that people arrive and think, oh, this is so cute, this is so sweet. And I don’t know about you, but what I’m really seeing too is a shift in the expectations from the short-term rental renters community. I think in the past people thought, I need enough coffee for that first cup and I need that first garbage bag, and then it’s my responsibility to go to the store and stock things. And now more and more, I’m seeing people really expect to have enough for their entire stay. And quite frankly, with the rates that I’m charging, I think they’re right. Why should you have to interrupt your vacation to go buy a box of garbage bags that you’re only going to use a handful of anyway? If I can just overdeliver on that and then that meets their expectations, I’m going to be set up for a five star review much more easily.

Ashley:
Let’s go into that a little bit more of what your opinion is. If you should be an investor that goes after buying two to three small rental property, or not even small, but just two or three and have a small portfolio or going out and building a larger portfolio, but it’s more of a cookie cutter model because you need these systems in place to actually manage all of these. And what do you think is actually the better strategy for maintaining your short-term rentals for the longest period of time for protecting your investment? What is going to last the person who’s got more in their portfolio? So if one rental isn’t doing good, they’ve got the other short-term rentals to kind of carry it, or that person that has just two or three that has those unique experiences with those amenities.

Katie:
I absolutely love this question, and I’m not going to give you a PR answer, but I kind of am and say it depends. And I think it depends on everyone individually. And I love that you’re asking it because I think for at least when I started diving into this world, all you heard was automate and more, and how many doors do you have and how quickly can you scale? And that is great, and that is super right for some people, but that also may not be right for everyone. And it’s taken me until my second property, my second short-term rental, did I start to say, hang on, what is the right strategy for me and how do I actually want to approach this? So I think at this point in my investing journey, I’m really interested in what I like to think of as lifestyle assets.
So how do they impact my life and bring me some joy in addition to hopefully bringing me some cashflow as well. So the fact that my guests always take priority, someone who’s paying for a booking always gets the house over me, but if it comes to Thursday and the house isn’t booked, we’re like, yes, let’s go upstate. Let’s go see the house, let’s go enjoy Lake George in the summer, Saratoga in the fall. And I really love that about the houses. And plus, I think what they’re amazing at too is letting you try out neighborhoods. I really feel like a local in both of those places now because I’ve spent so much time renovating and being there. So number one, that means I can give better recommendations to my guests. I am not just going to say, Hey, there’s a deli across the street. I’m going to say, Hey, there’s a deli across the street and the line gets super long, but actually you can order online and then pick up. So little tips like that. And then for us, we are thinking maybe one day we want to move to Saratoga, but as someone who’s mostly lived in big cities my whole lives, I was a little bit nervous about a transition to the suburbs, and this is now a nice way to get to almost try on a neighborhood. So I guess the answer is everyone should really decide for themselves what do they want to do? And then therefore there’s a strategy out there for you. If you don’t have 400 doors, you’re failing at this.

Ashley:
Yeah, and I think that’s a great answer, giving your opinion on why you may choose either side, because it can definitely be as much as everyone says, don’t make an emotional decision purchase based on the numbers. Well, this is also your lifestyle that you’re talking about. Do you want to be building out systems and processes, hiring full-blown teams to manage 20 rentals? Or do you want to take the time to do the stuff that you love design and really add these different aspects and these little touches that will take up your time? But if it’s something you enjoy and you want to do, maybe you can bring up that daily rate so that after this person with this huge team, you’re maybe not even making that much less than them because they’re not providing that unique service that you are providing to.

Katie:
That’s exactly it. I think there are many people out there who have 20, 30 hundreds of doors that might be making the same amount of cashflow as people with much less doors than that. And I think when you pick places that you would also be a guest of you, therefore understand your target audience so much more easily because it’s you.

Ashley:
Katie, I want to try and transition here a little bit. You mentioned the tote bag and being tagged on social media. So how has social media made an impact on your rentals?

Katie:
What I think is really well done in the hotel industry is they know the value that they provide. So when I was working for some of those great hotel brands, we would work with social media influencers and say, Hey, we’ll trade you. You can stay for a couple of nights and in return you’ll give us certain content you’ll post on your social channels, et cetera. So I learned that there. And then when I acquired this first property in Lake George, I thought I could do the same thing here. And now you’re probably not working with the same influencers. It’s not necessarily going to be people with millions and millions of followers, but that’s not necessarily what you need. So I think for short-term rental owners, our content is our number one marketing vehicle. If we don’t have good photos and ideally some good videos too, why are people going to spend money with us in the first place?
So I’m a huge, huge proponent of get great images. And the way I think a really economical way to do that is to find influencers, whether they shoot in a certain way that you think is aligned with your house’s style or they have the right following. If you start to see that most of your guests are coming from a drive market, let’s say three hours away, then you can make sure that their followers are going to be in that area. So for me, it was really about content as opposed to growing the social following. So finding people who knew how to photograph wooded homes and make them look fantastic and then saying, Hey, would you be interested in staying? So the only cost to me is just covering the cleaning fee for them. And then in return, I’m getting 30, 40 photos, some drone videos, just things that I would’ve never been able to capture myself. So that has been really, really helpful to be able to do.

Ashley:
And even to pay someone to come and take those pictures for you can be pricey. We just got two properties photographed today, and that will be about 600 to $700 to have those two properties done to get full listing photos.

Katie:
Definitely.

Ashley:
Katie, you talked about the Lake George property and then the Saratoga property. How were you able to get that second property? Was it within a year and a half, you got those two properties? Give us an idea of what the funding looked like for those properties.

Katie:
It’s probably boring to say, but we save from our W2 jobs. I see a lot of people buy much nicer things than us, but I am so obsessed with real estate. When I get a bonus or something at work, I’m like, Ooh, I can’t wait to put this towards the next asset. So I think that’s the beauty of a W2 job. But at the same time, I think Covid showed us that things can happen in the world that could potentially take away a W2 job really quickly. And that’s what really interests me in real estate to begin with, is starting to build something that’s really my own on the side so that God forbid myself or my husband lost our jobs, or if one of us was unhappy and just not feeling like we had to stay there, all of a sudden we’re building something on the side that in the future it will be optional versus mandated.

Ashley:
Isn’t it funny how it seems like just saving is so boring, a boring answer? It is not like I did some creative seller financing with the deal and I did this. I have no money into it. But that is one of the easiest ways to purchase a property because your, it’s not dependent on the deal. It’s not you’re having to try to find a deal that’s going into foreclosure or that has a desperate seller or is going to do seller financing or can do sub too. It is just saving, and it sounds boring to talk about, but if you can decrease your living expenses and you don’t get that lifestyle increase at up creep that when you get that bonus or you get that pay raise. And that is definitely one of the easiest ways is to live below your means and to just save, to get started in real estate

Katie:
And put in the work physically yourself. When we bought the first property and the second property, it was three months or so of working five days a week and then driving upstate late on a Friday night and then working the whole weekend on what projects we could get done. And once you have that systems in place and it kind of starts going on its own, you’re like, that was really worth it. And I think it goes back to what we were talking about earlier about finding what’s right for you. You hear a lot of people talking about seller financing and partnerships and how do you get the next one, next one, next one. And that’s great, and that’s super exciting for a lot of people. But I really like being able to have the control and being able to say, I think it’s worthwhile to have, I have two social influencers coming this month because it’s autumn in the Adirondacks.
It’s going to be gorgeous and magical. That’s why we got pictures today, great time of year to get some photos going, and I don’t want to have to go to other partners and explain to them why I’m paying those two cleaning fees. And they’re great partners to work with in the sense that they’re taking weekdays and usually we really only have weekend business this time of year, but still, I like being able to have that control or to be able to say, the linens don’t feel great to me anymore, so I’m going to replace them. Versus having a partner say, oh, well we get to a year on that. Those little things. I think it’s important when you’re in the driver’s seat,

Ashley:
And this could be a whole nother episode, but I have a friend who’s selling a property right now because they partnered with someone and there was the discrepancy in those decisions, and then they had a property manager who had an opinion too, and between the three of them, and that was the reason they are now selling the property because of that. So it’s definitely something to think about before going into a deal with a partner. We have to take the final ad break, but more on how a small but mighty Airbnb can cashflow extremely well in today’s market. Welcome back to the show. We’re joined by Katie Klein. Okay, so the next thing I want to kind of go into is we talked about providing service, the amenities, what your portfolio looks like and how you were able to save for those properties. But what is next for you? Is this, it is you’ve got your small and mighty portfolio, or do you want to continue on and grow this portfolio even more?

Katie:
Definitely want to grow it. I feel fully addicted now. You know what I would say to anyone listening, I think sometimes for those of us who really immerse ourselves in this world and read all the books and listen to all the podcasts, you have a little bit of imposter syndrome of the sense of everyone’s got 40 doors and I need to get started and I’m late to the party, but sometimes I kind of zoom out. And I think to myself, actually in my personal life, I know one person who has a short-term rental. I don’t come from a world where many people do real estate investing. And when we bought our first property in the US in Lake George, my dad looked at me and was like, I don’t understand. You’re going to own two properties and not live in either of them. And then when we bought the third one, I mean, he couldn’t look me in the eye was shaking his head.
He’s like, I’m just so worried that you’re going to get yourself in over your head. And when you have someone you really respect questioning, fairly questioning things, it makes you really question yourself. But now that we’ve gotten the two properties under our belt, I feel like I’ve been let into this Narnia of why wasn’t I told this sooner and wow, this is an incredible world to be a part of and look at what I could potentially build for my family one day. So absolutely hooked in love with the space. And I have two markets that I have my eyes on right now, hopefully for an acquisition probably next year I would say, because I have to re-save again.

Ashley:
Do you have a cashflow number in mind that you want to reach?

Katie:
I, I think long-term, what I would love is to replace our salaries. We’re probably very far from that right now. And quite frankly, I love what I do. I still work in communications. I really enjoy my job. But I think going back to what we talked about earlier, I like the fact that if that all went away or if things changed and I didn’t enjoy it anymore, it would be an option to walk away and not how many people feel of like, well, I have to stay until I find the next thing because I have all of these bills that I need to pay. So I think that’s the beauty and the power of real estate is setting ourselves up for hopefully generational wealth. But if anything, just to have that safety net in case things fall apart,

Ashley:
It’s that multiple income stream, having those in place and just continuously building those out makes such a difference in the security you feel while you’re building wealth. For sure.

Katie:
Exactly. And I think also what people don’t talk about too is it’s not just about getting to high levels of cashflow. Saratoga is a great example. Something that we’re exploring is maybe we’ll rent it for a couple more years and then save all of our profits from that, then do a cash out refinance, completely renovate the house to the perfect way that we want it, and then that could become our primary home, which would mean we’d essentially have our perfect house for probably half the price that you would get it for in the market right now. So that would only be possible to us because of renting, and it’s not necessarily something that we’ll definitely do, but the fact that we have an option like that is just incredible. Versus most people say, I’m going to go buy my house and I want it to be perfect, and therefore their mortgage is insane, and then they’re stuck in that job whether they like it or not.

Ashley:
So basically what she’s saying is you need to buy the house that you want in the future now that needs rehab, rent it out for several years and then go ahead and rehab it and live in it when it is appreciated.

Katie:
It’s kind of what we’re thinking about with Lake George too. Our house is wonderful, but it’s not on the water, and that would be my dream is to be on the water one day. And if I was just buying that for ourselves, I mean, that’s a very, very lofty goal. It’s very expensive, but maybe in 10 years I could buy it, not in its perfect turnkey position, rent it for another 10 years and then have the ability to renovate it to the spec that I want. So yeah, it’s just an incredible world that is opening up for us and really grateful to BiggerPockets for all the information that you guys have out there to make us feel like we’re not alone when we’re the crazy person at the party

Ashley:
Or even selling the Lake George House and using the equity from that to put as the down payment on the waterfront property too. That’s the thing is you have so many options available to you and doing a 10 31 exchange and all these different things. So one thing is what is the actual cashflow that you’re getting from Lake George and what is it for the Saratoga house and then for London too?

Katie:
So London is not great. I think at best we’re breaking even there. And what’s interesting about that market is you refinance every two to five years there. So it’s very different than the US market and not something we really understood when we first bought it. To be honest, when we first bought it, again, we weren’t really thinking of ourselves as real estate investors per se. We were thinking, can we afford the down payment? Can we afford the monthly and is the monthly less than what the rent would be in the area for one day when we rent it out? So now our mortgage has gone up, our monthly mortgage has gone up twice since we’ve owned that property

Ashley:
With refinancing because of the interest rates changing. Wow.

Katie:
Exactly. And it’s not like the arduous refinancing process that we have in the us. If anything, there’s about like a thousand dollars fee, which can be added to your mortgage, so it’s just very normal there.

Ashley:
What about the Lake George House and the Saratoga house? What is your cashflow on those properties?

Katie:
Yeah, so the Lake George House is doing well. We have a really strong A DR. Our summer month is really, really strong there. So we’re probably at about around 12,000 annual cashflow. I’d say for the Saratoga House. It’s doing even better than that. I’d say around 18,000, and this is our first year, so we really just kind of opened the beginning of May, but what’s really reassuring to me is we already have a few good bookings for next year. We had someone book for a month, and then that same person also booked for two weeks, and those are outside of our peak season, which is around the horse racing track. It’s the oldest horse racing track in the us so it drives a lot of visitors.

Ashley:
My best friend goes to it every year. People

Katie:
Love it. I love hats.

Ashley:
I’m going to have to tell her to stay at your house next time. Yeah,

Katie:
You definitely should. You definitely should. But honestly, of course, those bookings can fall through. They can cancel up to a month before I want to say. But if that comes through, that really gives me a lot of reassurance that next year we’ll be much more even of a banner year and that house is really performing well to begin with. Now, the challenge with that house is it’s in the neighborhood, so we do have some issues with neighbor complaints, whereas in Lake George, we’re much more remote, so you can’t really see any of our neighbors around. So we haven’t had any of those issues. So that’s something that I’m thinking about with the next properties that we invest in and something that I’m really going to be mindful of and something that quite frankly, we were mindful of when we bought the Saratoga place to begin with. But I think when you add in X factors that are outside of your control, especially when you’re like, this property is doing so well, but if the next door neighbor’s not happy about things, how do you handle that?

Ashley:
Yeah, and that’s the hard thing too, is when there’s those outside factors that you just can’t change with dumping money into it or anything, maybe putting up a privacy fence. There’s some things you can do, but most likely that person’s still going to complain. And

Katie:
Exactly. Actually, my dad had great advice. He was like, you need to bring him a present. And my initial reaction was like, what? And then I’m like, no, he’s totally right. You catch more flies with honey. So we need to be a good neighbor, and we have the same interests at heart. We both want the assets to be protected. We want to take good care of our home, and we’ve been really lucky. We have great guests by and large, but he’s entitled to his opinion.

Ashley:
Well, the last thing I want to add there is, with these properties, congratulations on your success for what you’ve been able to build and this portfolio you’ve created. We’re going to link your social media information into the show notes, and also they can find you on biggerpockets.com. But the last thing is, what is the advice that you would give a rookie investor if you were starting out today, what’s something that sticks right out to you that you would’ve wanted to know when starting?

Katie:
I’d say two things. One, know your worst case scenario. I think the fact that I felt confident we could cover the monthly mortgage if no one ever came to stay, gave me a lot of ability to sleep at night, and then everything else just felt like gravy. The second is surround yourself, whether it be physically in person or virtually through podcasts and books with other like-minded people who make you feel less crazy. Because I think if I had taken the advice of my dad or other people who said, you’re going to buy these places, but you’re not going to live in any of them, that’s nuts. If I would’ve thought, oh yeah, that is nuts. I wouldn’t be here right now. So they all have great intentions, and actually I think it’s really good for us all to critically think about every next step, but there are lots of people out there doing what we’re doing, and I’m at such a small scale comparatively, but it gives that reassurance that you might be taking that right step for yourself.

Ashley:
Well, Katie, thank you so much for that last piece of advice and for sharing your journey, and also for giving so much great inspiration as to what someone else can do with their short-term rental.

Katie:
Thank you for having me today.

Ashley:
I’m Ashley, and this has been an episode of Real Estate Rookie, and we can’t wait to see you guys next time. If you’re watching on YouTube, make you like and subscribe. If you’re listening on your favorite podcast platform, make sure to hit the follow button and to leave us an honest reading and review. We’ll see you guys next time.