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Episode 155: House Hacking & Airbnbing LARGE homes for LARGER profits w/ Syerena Orr!
Description
Syerena Orr runs seven large-format rental arbitrage properties in the Atlanta area, specializing in 5- and 6-bedroom homes of 2,500 to 4,000 square feet. Her highest-earning property - a 6-bedroom with pool and jacuzzi in Powder Springs - cost $35,000 to furnish but generates enough revenue on weekdays at $500/night and weekends at $1,000/night to cover the $4,400 monthly rent in a single week, leaving three weeks of pure profit. She protects her investments with iron-clad lease terms including a $10,000 to $20,000 penalty if the landlord breaks the lease, and a clause requiring 50% of earnings plus management fees if they try to take over the short-term rental operation themselves.
The episode covers Syerena's journey from house-hacking a $65,000 five-bedroom townhome in Carrollton (purchased in 2017 on a $90,000 pre-approval) to building a portfolio targeting $4,000+ monthly profit per property. She details her hiring process for cleaners via Indeed - including a 28-question interview, an 18-page cleaning manual with required test, and a $25 background check - that weeds out unreliable workers before they waste her time. Other topics include her strict guest vetting to prevent parties, her strategy of offering 5-year leases with flat rent to secure landlord cooperation, her use of business credit to preserve cash, and her 2021 goal of acquiring one property per month.
Work with us. Interested in professional management or consulting?
Myka — Sharebnb: www.sharebnb.com
Steve — Argest Rentals: www.ArgestRentals.com
Sign up for PadSplit with Steve's link and get a free 1-on-1 PadSplit strategy call with Stevie Stacks: padsplit.com/hosts
Myka's other podcast, Entrepremarriage — building wealth without losing the marriage: youtube.com/@Entrepremarriage
All our links: linktr.ee/liveletthrive
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