Gerald Pitts has achieved full financial independence through his short-term rentals. Initially working a full-time job, Gerald was able to leave that position just based on his financial returns from two rentals. Now his number of properties just continues to climb. Gerald has experience with a diverse range of loan options as well as properties throughout the US.
In this episode, Avery speaks with Gerald about how he got started in the market, as well as the importance of just pulling the trigger and diving into the world of short-term rental investments without letting your hesitations and concerns delay you too much from buying your first property. They also discuss the lack of importance of physical proximity to your rentals and the other resources that one can depend on should an emergency come up. Gerald and Avery both discuss their opinions on quitting your job to enter real estate part-time, and the role of financial and real estate education play in one’s investment journey.
How Gerald got started in investing
Markets in which he operates
How the STR market is forgiving
Advantage of just pulling the trigger
Benefit of relying on professionals to handle emergencies