Stewart Olney, PharmD and Elizabeth Olney, Realtor discuss their real estate investing path from house hacking by renting out a spare room to motel hacking and building a real estate business through hotel and motel investments.

Key Points From This Episode

• Introducing today's guests Stewart Olney, PharmD, and Elizabeth Olney.
• Stewart's journey as a pharmacist and how that ties into his introduction to real estate.
• Why Airbnb has been an integral tool for Stewart and Elizabeth's real estate journey.
• Stewart and Elizabeth's limited budget after her first pregnancy.
• How YouTube initially helped them with doing all the rehabilitation work themselves.
• How they learned from the mistakes of others as well as trial and error.
• Why Stewart describes their approach as 'house hacking'.
• How moving into the homes they purchased unlocked access to advantageous financing.
• The story of how they purchased the motel in which they currently live.
• How they have used technological innovations and AirBnB services to automate and streamline their check-in and check-out processes.
• A breakdown of their plan to purchase and run another motel in their area.
• Insights into commercial loans and how they differ from other loans.
• Why getting outside help with property management has had such a positive impact on their lives.
• The resources that have had the biggest impact on their real estate journey.
• Their top advice for any pharmacist who wants to start investing in real estate.

Links Mentioned in Today's Episode

• Connect with Stewart Olney on LinkedIn
• Dave Ramsey
• Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki
• BiggerPockets
• The Totem Lodges
• Join the YFP Real Estate Investing Facebook Group
• YFP Real Estate Investing
• Your Financial Pharmacist Disclaimer and Disclosures