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Updated over 1 year ago on . Most recent reply
STR Arbitrage/Starting out
I'm new to investing still have a little bit of CC Debt I know that I need to pay down first before really anything however I was wondering if anyone has tried renting out a mother in law dadu type thing from a third party on Airbnb or VRBO any tips for starting out? Also thinking about getting my real estate licenses while trying to pay down my debt as I work at boeing so they'd pay for it any advice?
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#2 Short-Term & Vacation Rental Discussions Contributor
- Olympia, WA
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#2 Short-Term & Vacation Rental Discussions Contributor
- Olympia, WA
Just do a search on arbitrage @Trevor Morris. This question is asked many times a week. This is not a new idea.
Overall, it is a tough row to hoe. If you are already under financial stress, you really can't afford to get involved in any investing until you get on solid ground.
You can't afford to setup a place properly so it will most likely fail and you will then be in bigger trouble.
Just start paying down your credit card debt and go from there.
You can always look at doing an FHA loan for small 4 plex or the like. Live in one, rent the others. Live for free and save like mad.