Have you been sitting on the fence about renovating properties with the purpose of renting them out on a short-term basis? What’s holding you back? Short-term holiday rentals can be a great property investment strategy, resulting in wealth-building profits.
Mary and Lilah Nieuwland, a mother and daughter property investment team, joined Bernadette Janson on She Renovates to talk about their short-term holiday rentals portfolio and why it is a profitable strategy.
Mary and Liliah have a three-pronged approach to property, including renovating homes for the purpose of Airbnb, renovating to sell for profit, and managing Airbnb properties. Their current portfolio includes four short-term holiday rental properties, five completed renovations, and two renovation projects in the pipeline.
Take a listen as they share what it’s like working together, managing other people’s properties, using short-term rentals to build cash flow, and how 2020, the height of the Covid pandemic, was their most successful year.
Watch the Episode on Video:
- 00:00 Intro
- 01:10 Mary and Lilah’s current reno projects
- 03:23 What impact does renovating have on a mother and daughter relationship
- 06:07 The type of Property Mary and Lilah host.
- 08:45 Mary and Lilah’s Property in South Melbourne
- 12:17 Who’s responsible for the styling?
- 13:46 Is long term stay reliable for Airbnb?
- 16:43 What does Mary and Lilah think is the best type of property?
- 18:55 What areas in Melbourne work best for short-term rental?
- 21:19 Bookings
- 24:59 The most horrendous, scary, or funny experience with airbnb.