JUNE 14, 2023
#33: Unlocking the Secrets of Rehabbing an Airbnb with Aubrey Carlson
Do you know what real estate investors do differently from other people?
They don’t just see a house. They see an opportunity.
In this episode of the podcast, Aubrey Carlson shares how she’s turned that opportunity into profit by rehabbing properties and then renting them on Airbnb. Whether you’re considering rehabbing a short-term rental out of state or locally, Aubrey sheds light on the pros and cons of both options and discusses how to estimate rehab costs. She emphasizes the importance of vetting contractors and discusses the red flags that indicate it’s time to fire a contractor. Moreover, Aubrey provides a comprehensive list of questions to ask a contractor’s references before hiring.
Aubrey also shares a personal story about her biggest challenge while rehabbing her short-term rental and how she successfully overcame it. For anyone embarking on an Airbnb rehab journey, Aubrey’s advice is a guiding light filled with wisdom and practical tips that will set you on the right path. Don’t miss out on this must-listen episode filled with invaluable tips and insights!
Highlights and Key Points:
[04:01] A quick bio of our guest; Aubrey Carlson
[05:22] How Aubrey got started in short-term rentals
[08:18 The short-rental regulations in San Diego
[11:12] Advantages of buying ugly properties
[14:37] Greatest tip you should know when rehabbing a property
[15:04] Rehabbing out of state vs. rehabbing locally
[20:15] Estimating rehab costs
[27:07] When should you fire a contractor?
[29:15] How to vet a contractor
[33:33] Questions to ask a contractor’s references before hiring
[35:29] Aubrey’s experience working with contractor referrals
[40:25] The Biggest challenge in her property rehab experience and how she navigated it
[42:12] Her advice to anyone looking to rehab their property
“Experience gives you confidence.”
“Hire slowly and fire fast because if they are not the right fit for your business, they will become toxic to your business. “Jump out of the airplane and figure out the parachute on the way down.”
“Don’t let your fear guide your actions; instead, understand your fear and tap into people who can help you get the rehab project done.”
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