588: Rental Arbitrage: $700K Renting Out Other People's Properties

Making money in real estate typically requires owning the property, right? Coming up with a large down payment, securing financing, dealing with tenants, handling maintenance and repairs. The barriers to entry aren’t exactly low. But what if you could skip all that and still bring in serious cash flow by renting out apartments and homes without buying them? When Richie Matthews and his wife were looking to supplement their seasonal events business in late 2019, rental arbitrage seemed like an ideal side hustle. Little did they know that just a few months later, that tiny side hustle would quickly scale into a business managing 60 units and generating over $2.5 million in revenue and $700k in profits. He now runs his company, iStayUSA.com. Tune in to Ep 588 of The Side Hustle Show to: Test unfamiliar models with tiny experiments before going “all in” Stay nimble and embrace opportunities, even in uncertainty Build scalable systems and processes early on Diversify marketing channels and revenue streams Focus on profitability metrics rather than solely revenue growth Full Show Notes: Rental Arbitrage: $700k Renting Out Other People's Properties Get your personalized money-making playlist here!