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How To Make $65,000 WITHOUT Owning A Home
Sarah Pel shares her journey from living in an RV to investing in short-term rentals in beach markets, particularly condos. She discusses how she and her husband started with a condo in Orange Beach, Alabama, and explains why she prefers condos for their simplicity and budget-friendly advantages. Sarah also highlights how they’ve seen success and even expanded their portfolio.
Avery: Hey y’all, welcome back to another episode of the Short-Term Show. Today we have Sarah Pel, who has a really interesting story. I’ll let her tell it, but it’s really cool—they’ve got RVs, they’ve got Orange Beach, and they’ve got arbitrage. A little bit of everything! Sarah, will you introduce yourself?
Sarah: Yes, thank you Avery, for having me. My husband and I have been living out of our fifth-wheel camper for the past six years now, which is kind of crazy. I was a teacher, but six years ago, my husband, a journeyman electrician, decided to pack up, and we hit the road.
Avery: Wow, that’s quite a journey. How did you get into real estate and short-term rentals?
Sarah: About three years into our traveling, I wasn’t very interested in long-term rentals, but I started to look more into management companies and what they were doing. I found BiggerPockets, and that’s when I decided I wanted to try short-term rentals. We bought our first vacation rental in Orange Beach, Alabama.
Avery: Is that a condo or a single-family home?
Sarah: It’s a condo, and I love investing in condos in beach markets for short-term rentals. A lot of people hesitate with the word “condo,” but I think they’re missing out.
Avery: Why did you choose a condo, and what have you liked about it?
Sarah: It came down to the budget. The numbers worked well for us. This was just after COVID, so prices were still high, but we ended up grossing just over $65,000 in our first year for a one-bed, two-bath condo. We’re very happy with our numbers, and this year, we’re on track to do even better.
Avery: That’s awesome! Condos seem like a strategy people overlook sometimes.
Sarah: Definitely. We even bought another condo in the same building just this past March. Condos come with some nice perks, like the HOA, which covers exterior insurance, maintenance, and even cable and internet. It makes managing it a lot easier compared to a single-family home.