384: The “Luxury” Rental Property That Brings in $150K/Year of Pure Profit w/Veronica Garreton

Making six figures from one rental property is every investor’s dream, but to achieve this, you need to choose the right investing market, buy the right property, and create luxurious “moments” that other rentals don’t offer. Today’s guest is going to show you the ropes of luxury real estate investing!

Welcome back to the Real Estate Rookie podcast! When Veronica Garreton decided to try her hand at short-term rentals, she went straight for the big fish—a $750,000 rental property in Joshua Tree, California. At the time, it was the area’s most expensive property listed for sale, and in year one, the rental barely broke even. Using her background in architecture, however, Veronica identified creative value-adds that would attract more guests and allow her to charge her ideal nightly rate. The very next year, she pocketed a whopping $150,000 in pure profit!

Whether you own a basic rental or a “luxury” property, there is plenty of wisdom to glean from today’s episode. Veronica talks about analyzing deals, using the power of influencer marketing to get more bookings, and the small touches ANY property owner can make to enhance the guest experience!

In This Episode We Cover:

How Veronica pocketed $150,000 in profit from a single rental (in one year!)

Enhancing your guest experience with simple but effective property additions

How to transform your rental property into a “luxury” stay

Raising your bottom line and standing out with luxury rentals

How to get MORE bookings for your rental with influencer marketing

The “rule of three” Veronica uses to analyze luxury short-term rentals

And So Much More!

Links from the Show

Find an Agent

Find a Lender

Ashley's BiggerPockets Profile

Ashley's Instagram

Tony's BiggerPockets Profile

Tony's Instagram

Real Estate Rookie Facebook Group

Join BiggerPockets for FREE

Submit Your Real Estate Rookie Question!

Apply to Be a Guest on the “Real Estate Rookie” Podcast

How to Start an Airbnb Business in a Brand New Market

Should You Convert Your Rental Property Into An Airbnb? 6 Factors to Consider

Protecting Your Future in Short-Term Rentals: It Starts By Providing a Powerful Guest Experience

Connect with Veronica

Veronica's BiggerPockets Profile

Veronica's Instagram

Portfolio

Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-384

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected]

Learn more about your ad choices. Visit megaphone.fm/adchoices