18. Investing Beyond State Lines: Stephanie Dietrich’s Guide to Going Remote
Episode Summary:
In this episode of The Airbnb Roadmap, I sit down with Stephanie Dietrich to discuss the ins and outs of investing in short-term rentals out of state. Stephanie shares her journey into real estate investing, including the fears and challenges she faced purchasing a short-term rental four hours from home. From licensing hurdles to finding a reliable team, Stephanie opens up about what it takes to successfully manage a property from afar. Plus, we dive into the pros and cons of working with a property manager versus self-managing and how regulations impact the short-term rental game. If you’ve ever thought about expanding your real estate portfolio beyond your local market, this episode is for you!
Key Takeaways
- How Stephanie transitioned from homeownership to short-term rental investing.
- The importance of choosing a location that attracts guests but also appeals to you personally.
- Managing a rental from a distance: the systems, contractors, and property managers that make it work.
- The unexpected costs of cleaning fees and why choosing the right cleaner matters.
- Licensing, inspections, and regulatory challenges that come with short-term rental investing.
- The pros and cons of keeping emotional attachment out of investment properties.
- The financial benefits of leveraging home equity to fund short-term rental investments.
Why Listen to This Episode?
If you’ve ever considered investing in short-term rentals beyond your local market but felt hesitant due to distance and lack of control, this episode is packed with insights to help you overcome those fears. Stephanie’s experience shows that with the right team and mindset, you can successfully manage an out-of-state rental and grow your investment portfolio with confidence.
Mentioned in the Episode
- Stephanie Dietrich : Instagram: @theczechcottage
- Sign up with Hospitable: Every dollar counts when it comes to investing. Save $30 when you sign up under the link below! Save time and money today!
- Connect with Me on Instagram: Follow me @airbnbroadmappodcast for behind-the-scenes content, tips, and updates.
Let’s Connect
Thinking about investing in short-term rentals out of state? DM me on Instagram at @theairbnbroadmap with your questions or share your progress! I’d love to cheer you on and help you out.
Work With Me
Want help finding and setting up the perfect short-term rental property? I specialize in helping investors find, analyze, and launch successful Airbnb properties. Check out my services at Front Porch Realty or reach out on Instagram!
Chapters
00:00 – Intro & Getting to Know Stephanie Dietrich 03:30 – Stephanie’s Background & Transition into STR Investing 10:00 – Why She Chose an Out-of-State Investment 15:30 – Managing a Short-Term Rental from 4 Hours Away 20:00 – Property Managers vs. Self-Managing 30:00 – Regulatory & Licensing Challenges 40:00 – The Unexpected Costs of Cleaning & Maintenance 50:00 – The Financial Upside of Short-Term Rentals 55:00 – Final Thoughts & Where to Find Stephanie
Subscribe and Share
If you enjoyed this episode, make sure to subscribe and leave a review! Share this episode with anyone considering investing in short-term rentals—especially those thinking about expanding beyond their home state.
