S4E15 Turning a One-Bedroom Condo into a Cash-Flowing Machine with Leif Dyrsten

In this exciting episode of the Investor Shed Podcast, your hosts Nick Beveridge and Jeremy Kitchen sit down with Leif Dyrsten, an inspiring real estate investor making waves in the short-term rental market! 🎙️ Leif shares his journey from working in BMW parts sales to becoming a property owner in Seattle, where he's successfully managing his first short-term rental.

Leif dives into the challenges and opportunities of short-term rentals, discussing how his one-bedroom condo in Seattle has become a profitable venture. From financing hurdles to renovation insights, Leif offers a transparent look at the highs and lows of his first year as a rental property owner. He also explains the valuable lessons he learned from attending the North Idaho REI Conference, which ultimately propelled him into action.

This episode covers key topics like financing for self-employed individuals, handling guest expectations, and why short-term rentals can outperform long-term ones. If you're interested in breaking into the short-term rental space, Leif's experiences and actionable insights are a must-listen!

Episode Highlights:

• Leif's shift from BMW sales to real estate investing
• How the North Idaho REI Conference inspired him to get started
• The challenges of securing financing as a self-employed investor
• Renovating a condo to attract guests while navigating HOA restrictions
• Balancing price with guest quality and managing expectations
• Leif's future investment plans and goals in the real estate market

Memorable Quotes:

• "I was just a forever researcher."
• "Lowering prices too much can attract undesirable guests."
• "Short-term rentals can provide better cash flow than long-term rentals."

Chapters: 00:00 - Welcome to the Investor Shed Podcast
03:45 - Insights from the North Idaho REI Conference
06:31 - Transitioning to Short-Term Rentals
11:22 - Challenges of Self-Employment and Investing
15:04 - The Property Purchase and Renovation Process
20:29 - Navigating HOA and Building Regulations
22:42 - Lessons Learned from First-Year Operations
26:44 - Managing Guest Experiences and Expectations
31:43 - Financial Insights and Year-End Review
39:58 - Future Plans and Business Aspirations
44:53 - Final Thoughts and Advice

🔗 Connect with us:

• Official YouTube Podcast Page: https://www.youtube.com/@TheInvestorShed
• Nick Beveridge's YouTube Page: https://www.youtube.com/@NickBeveridge
• Real Estate Website: northidahorei.com
• Facebook: facebook.com/profile.php?id=100063653307069
• Instagram: instagram.com/theinvestorshed

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#RealEstateInvesting #ShortTermRentals #AirbnbInvesting #SeattleRealEstate #NorthIdahoREI #PropertyManagement #InvestmentTips #RenovationJourney #FinancialFreedom #TheInvestorShedPodcast