UNLOCKING THE PATH TO PROPERTY SUCCESS:
5 Ways to Scale Your Income with Short-Term Rental Property as an Entrepreneur

The life I was leading in 2018 didn’t align with my dreams of freedom, time, and increased income for the choices and opportunities I craved. I was stuck in a career that led me to burnout, as an NHS doctor and I got to the point of desperation where I realised it was now or never to do something about changing my life and building the life I wanted.

Property investment offers a whole host of routes to financial success, but let’s begin with the strategy that paved my way to the first £100k+ milestone (outside of my job as an NHS doctor). Back when I started on my property journey, I was juggling the roles of a doctor, a mother, and soon-to-be mum for the second time. I was short on both time and funds, and the last thing I wanted was to create another job for myself, but I was desperate to find an escape.

I knew that property was the wealth-building and income strategy that I ‘should’ be doing, however I always thought I needed hundreds of thousands in the bank to start. Soon after starting my journey into learning about property, I realised this wasn’t necessarily the case and was able to start and scale a successful short-term rental property business (otherwise known as serviced accommodation, Airbnb and holiday lets) to six figures in its first year.

Here’s the blueprint I followed:

A Strategic Sale:
I didn’t have the money to start buying property. So I sold my own home, and used the proceeds to buy my first property investment (by the way, disclaimer: I’m not saying you need to go and sell your house to get into short-term rental property!).

Buy-Refurbish-Refinance (BRR) Approach:
This model is based on purchasing properties which can have value added to them, adding the value through refurbishment and the remortgaging onto a new mortgage product that ideally meant you could release a large chunk of your invested capital. This technique enabled me to profit from property refurbishment and recoup most of my investment, so I could roll it into the next one.

The Rent to Rent Strategy:
This is where you rent a property from a landlord, and with their permission and the right contracts in place, you rent the property out on a short-term rental basis. I embraced this strategy as I lacked much of the initial capital for property purchases.

Short-Term Rental Property Strategy (AKA Airbnb, serviced accommodation or holiday lets):
As soon as I stumbled across this strategy, I realised you could generate much more revenue from the same property if it was run as a short-term rental property compared to the standard buy to let. On average, you can multiply your net profit with this strategy by five compared to standard rentals.

Short-term Rental Property Management:
I ventured into managing others’ properties, a low-risk business model that meant I could generate a substantial monthly income, without any financial commitments for the property.
Neither the absence of substantial funds nor the scarcity of time deterred me from embarking on this journey, although believe me, at times it was challenging.

I knew for my life to change, to create the freedom and live the extraordinary life I really wanted, things had to change. That changed happened as a result of me going all-in with starting and scaling my short term rental property business.

Tania x