This week next level physician entrepreneur, and Doctors Unbound Podcast Host David Draghinas, and I took the conversation to another level as we chatted about Building Wealth in the short-term rental real estate market.
Highlights from the conversation:-
- Excited to connect with the host of podcast Doctors Unbound
- Practicing Anesthesiologist w/a family of 4 children
- As a child watched his family in real estate (which influenced his awareness of real estate as an option for building wealth)
- Was interested in real estate investment, but after doing the research and a little math decided on short term rental option was the best option
- Short term rental has the potential to funnel in more cash while at the same time building wealth
- Short term rental market is changing and investors are buying up whole complexes and renting out rooms. Therefore it's probably a smart idea to find a competitive edge (for Dr. Draginas it is luxury home space).
- We talked about "rental arbitrage" which is renting a home/apartment at slightly and then using it for short term rentals. While it can be a short term cash flow option, it doesn't allow building of wealth long term. Purchasing the home will give you both cash and long term wealth building.
Catch up with Dr. Draghinas and listen to Doctor's Unbound Podcast by visiting www.DoctorsUnbound.com
You can also follow them on social media:
LinkedIn: David Draghinas
Facebook: Doctors Unbound
Instagram: @doctorsunbound
Twitter: @doctorsunbound or @ddraghinas
See you on the next one!
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