Are Vacation Properties a Good Investment?-with Kathrin Rein-EP110

During this episode of the Lab Coat Agents Podcast, host Jeff Pfitzer speaks with Kathrin Rein, CEO of Beautiful Miami and a successful real estate agent. Kathrin Rein talks about how she has gone from stand-up comedy and acting in her earlier days to becoming the top solo real estate agent with Keller Williams Realty in the state of Florida for the last two years. Episode Highlights:  Kathrin Rein is from Germany and is based in Miami. Financial freedom has been her goal since she transitioned from stand-up comedy to real estate.  Kathrin Rein sells about 70-100 houses a year.  Her dad passed away when she was 22.   Many comedians are actually in a dark place.  What caused Kathrin Rein to get involved in real estate?  People underestimate the power of knowledge.  Just because you don’t know anyone doesn’t mean you can’t become a real estate agent of choice.  With real estate, there is no ‘right way'.’ There is just your way.   Kathrin Rein has been in real estate since 2011. She is normally on the buying end of the real estate market and she is strong on SOI.   Follow 3-5 people on social media that you are inspired by and emulate them and make it your own.  Perfection is overrated. Take action and be different.  Kathrin has a full-time marketing manager.  Be yourself and identify your personal advantage.   Kathrin Rein owns five houses in Miami and three in the mountains of Georgia.   Kathrin discusses the metrics that she used for vacation rental properties. Kathrin Rein pays her property managers between $350-$500 per month or 10%.   Buy areas that are diamonds in the rough where it is family-friendly, where people would want to spend time, and that you would want to vacation in.  She could retire now if she wanted to live in the mountains of Georgia.  If she stays in Miami, she could retire in 3 years.  You pay the highest taxes on your income, less taxes on your rental income, and even less on your capital gains.  If you make no money on paper for taxes, then you will have trouble getting mortgages.   Don’t be afraid to ask questions.  3 Key Points: Just because you are good looking, that by itself is not an achievement.  Leverage your past life of friends and build deep relationships with people.   Kathrin Rein’s real estate strategy includes relationships with people outside of her industry, her sphere of influence, agent referrals, not being salesy, and being a giver without expecting anything in return.   Resources Mentioned: Lab Coat Agents  | Website | Facebook | Facebook Group | Twitter | Instagram | Kathrin Rein  | Website | Linkedin | Instagram | Twitter | Facebook | Meet with Kathrin | Street Text (sponsor) Follow up Boss (sponsor)