355. What Are Typical Seller Financing Terms? (And Is It Worth It?)

Welcome to the officially unofficial Money Making May, where we have a full month’s worth of content all around pricing profitable properties with PriceLabs!

Today’s expert guest is Michael Lacalle, a teacher, husband, and father of two who stumbled into house hacking as a means to afford living on the Central Coast of California. From there, he got the real estate bug and now owns five short-term rental listings on three separate properties (HINT: He is looking to partner with like-minded investors and scale his portfolio!)

We chat with Michael about his inspiring three-tiered story – launching a studio STR space attached to his first home purchase, rolling the dice on a wait-and-see vacation rental project in Joshua Tree, and partnering up for a sprawling cabin escape in New York.

We also touch on a few important niche STR subjects, like how he’s leveraged dynamic pricing to get the most out of his listings and seller financing – who, what, where, when, and why it makes so much sense for both the seller and the buyer.

We met Michael in a moment of cosmic fate, in an airport of all places, and were enthralled with his willingness to share the nitty gritty details of his various deals, processes, and plans. He’s another great example of a real life person, just like you, out there doing his thing and having great success in this industry through passion and purpose.

(00:01:28) #STRShareSunday: @treebonesresort

(00:07:08) Launching a Short-Term Rental in Central California

(00:22:03) Expanding His Portfolio of Investment Properties

(00:29:53) Understanding Seller-Financed Deals

(00:36:59) Prepping Operations for a Cross-Country STR Listing

(00:52:48) Michael’s Top Short-Term Rental Hosting Hot Tips

Resources:

• #STRShareSunday: @treebonesresort

• Instagram: @michael_lacalle_real_estate

• Check out PriceLabs: Start your 30-day free trial

• Video: Funding Your NEXT Airbnb or Real Estate Property

• Airbnb Essentials Checklist: hostchecklist.com