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Navigating Retirement Strategies and Creating STR Hub with Christianne Crump
Christianne Crump shares her journey into the short-term rental space, transitioning from a nursing background to becoming an expert in managing short-term rental properties. Inspired by retirement planning conversations with her husband and financial advisors, Christianne took the initiative to manage their properties, quickly mastering the industry. Today, she not only manages their investments but also helps others navigate the world of short-term rentals.
Avery: Hey guys, welcome back to another episode of the short-term show. We have Christianne Crump today, really excited to interview her. She’s got some really cool stuff going on. I just realized I’m wearing my North Face inside while we’re recording because it’s under 50 degrees in Florida, and I can’t live in those conditions. Anyway, without further ado, Christianne, how are you?
Christianne: I’m doing great.
Avery: Thank you so much for the invitation to join us today.
Christianne: Yeah, thanks so much for coming on! I’m really excited to have you.
Avery: So, let’s start off with just a little bit about you. What led you down the path of getting into the short-term rental space?
Christianne: You know, it’s so crazy. I never would have predicted that I would be in the short-term rental space doing all the things I’m doing now. I had this whole prior life where I have a nursing degree and a science degree and spent several years doing that. Then, family came along, and I spent years raising my boys and enjoying that phase of life. As my kids were getting older, my husband and I began looking forward to what our retirement would look like.
Christianne: We talked with our accountant and estate planning experts, and they started talking with us about what we wanted. My husband was very determined to create some sort of revenue stream that would follow us into retirement, but one that didn’t require him to be working. So, we started looking at various avenues we could pursue to achieve that goal. Our accountant discussed the concept of short-term rental properties with us. We considered both long-term and short-term, but we got really excited about the short-term options and how they could potentially help us reach our goals.
Christianne: The next thing we knew, we were taking our second home that we had purchased years ago, and we jumped into remodeling it to prepare it for a short-term rental. We were actively looking for properties we could purchase specifically as investments in short-term rentals. I wasn’t super excited about hiring a property manager, so I volunteered to learn how to manage the properties myself. My husband was still busy with his career, so he put me in charge of this, and I got super energetic and excited. I went down the rabbit hole, learning as much as I could, and ever since then, I’ve been running point on the properties we own. Now, I’m also stepping into the space of helping others manage their properties.
Avery: Wow, that’s a lot of great information! I have some questions. The first one I’m interested in is about your estate or financial planner actually suggesting real estate. I know many of them are very anti-real estate, so it’s hard to find one who supports investing in real estate. Did they have to be convinced, or were they pro-real estate?
Christianne: That’s a really great question. Typically, they’ll try to sell you on different traditional stock market-style investments. My husband and I entered our adulting years in an interesting phase; we launched right into the dot-com bubble burst, so we had some money set aside. As newlyweds, we felt the pressure to be responsible, listening to all the advice from others who had been through similar experiences.
