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The Short-Term Shop

Flipping Your Way to Short Term Rentals with Glenn & Amber Schworm

Flipping Your Way to Short Term Rentals with Glenn & Amber Schworm

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Flipping Your Way to Short Term Rentals with Glenn & Amber Schworm

Glenn Schworm shares his real estate journey, starting from bankruptcy at 19 to building a thriving flipping business with over 100 properties per year alongside his wife, Amber. They emphasize starting from desperation during tough times in real estate and finding opportunities even in crises.

Avery: Hey guys, welcome back to the show. Today, we are mixing it up a little bit by not talking so much about short-term rentals, but a few other types of real estate investing. Today, we have two guests, Glenn and Amber Schworm of the home-flipping world. We’re going to talk about a lot of different things today, so stay tuned.

Avery: But we’ll start out with saying hey, how’s it going, Glenn and Amber?

Glenn: We’re good, thanks for having us.

Avery: Yeah, thanks for coming on. Let’s start out—if you’d just tell us a little bit about yourself and how you got into real estate investing. How far back do you want to go?

Glenn: As far as you want! We’ve got plenty of time. I’ll give as much detail as possible, actually, because you know there’s going to be a lot of people out here who might be able to relate. So, if you want to go way back—30 years ago, I bought my first two rental properties. I was 19, so that’s…35, four, something years ago, anyway.

Avery: Wow, over 30 years ago?

Glenn: Yeah, I bought my first two properties. They were kind of in the hood, and they weren’t good properties. I ended up…I was really, I was 19, I ended up losing those. I declared bankruptcy, and it was a rough time in my life. This is 34 years ago, I think. The idea of real estate appealed to me, but I had no idea how to do it. Always had an idea, but no clue how to follow through, and then a lot of education came back later.

Glenn: Either way, it was a simple assumption. I took it over for 50 bucks. I was like, ‘oh yeah, I’ll buy these.’ I thought, you know, the people pay cash for the properties they buy, and I’m like, “hold on, my friends, I’ve got cash, but you wanna pay a mortgage? What?” That’s because I didn’t know what I was doing! I put it on hold for a long time, and I opened my own businesses and worked in business for a while.

Glenn: Then Amber and I got together. We bought a rental property in 2003, and that was the worst run-up property. Still own it—that’s a good one now! We made every wrong move possible on that, but then we decided to start flipping houses in ‘07. We flipped our first house in ‘07, and we did it through blood, sweat, and tears. Then, we started figuring out how to leverage time and money, other people’s money and time, and we grew.

Glenn: Did you know, we won the first year, and then three the next, then seven, then 20, and now we’re over 100 every year. We do a combination of wholesale, traditional flips, quick flips—long-term rentals, short-term rentals— all that combined.

Avery: That’s really important for listeners to know—you guys started from nothing, right?

Glenn: Yeah, we had neither one of us… no college degrees. We were both working in multi-level marketing companies. I think I had 10 grand, maybe, it wasn’t a lot. But we really started out of desperation, so that first house we did… it was the idea of flipping that excited us. We needed to make big chunks of cash quickly, legally, and fast, and that first house? We ended up making about $17,000 on it.

Avery: Wow, and that was during the real estate crisis?

Glenn: Yeah, the world was falling apart with real estate. Everyone was saying, “this is the worst time to get into real estate,” but we didn’t know any different. We jumped in with both feet, and it reminds me a lot of now. We see people in desperate situations, but also, the economy is shifting. Inventory is starting to come on the market, more deals are happening. It’s an exciting time because it reminds us of when we first started, but we truly started out of desperation.

Amber: Yeah, neither of us had any construction background. Glenn still doesn’t know how to read a tape measure, right?

Glenn: I don’t!

Avery: That’s so foreign to me. Looking back, it seems crazy to get started then, but there are a lot of similarities between now and then.

Glenn: I was 19 in 2007, so I missed the boat on opportunities then, but now, as an experienced real estate investor, it feels like there’s potential again.

Avery Carl

Avery Carl

Avery Carl was named one of Wall Street Journal’s Top 100 and Newsweek’s Top 500 agents in 2020. She and her team at The Short Term Shop focus exclusively on Vacation Rental and Short Term Rental Clients, having closed well over 1 billion dollars in real estate sales. Avery has sold over $300 million in Short Term/Vacation Rentals since 2017. An investor herself, with a portfolio of over 100 Doors, Avery specializes in connecting investors with short term rentals with the highest ROI potential, and then training them to manage their short term rental from their smart phone from anywhere in the world.

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