Buying Short Term Rentals Across the Country and Traveling with Diya Liu | From Military to Millionaire Podcast

Episode: 124
Diya Liu
Join your hosts, David Pere and Alex Felice, with their guest, Diya Liu, as they talk about how investing in short-term rentals got her from $0 - $100,000 of revenue in 13 months. Diya earned that from the units she owns, all while working as an attorney full-time.
 
In the household she grew up in, being an achiever was the goal. A good education in a prestigious school, finishing with flying colors, and getting into big-name companies were always believed to be the pathway to success. Instead of just following, she taught herself to take risks.
 
Diya now travels to different places, teaching people how to achieve financial freedom through her proven and tested methods. In this episode, we'll hear Diya's experience and approach to managing her vacation rentals, as well as the results of her redefinition of what success could be.
 
About Diya Liu:
 
Diya Liu helps real estate investing newbies and seasoned investors maximize their rental cash flow with vacation rentals. Diya came to the United States when she was eight years old. Her family of three lived in their mom's measly $1,000/month graduate student stipend.
 
Her journey to investing was not a straight path. Her parents raised her to believe that the equation to success equaled getting straight A's, going to a renowned college & grad school, and getting an excellent W2 job. Diya did just that, and she wasn't happy.
 
Diya double-majored in chemical engineering and biochemistry in college; she got a full-ride scholarship to law school, and she got a job at a prestigious white-shoe law firm in NYC upon graduating from law school.
 
Then she realized that she didn't want to work 9 AM to midnight for the rest of her career. After research, Diya found the financial independence movement and decided she wanted to be location independent too, not just financially independent!
 
She started investing in vacation rentals and got her first booking within 15 minutes of hitting publish. She had over 90% occupancy for the first month on Airbnb.
 
Since then, Diya quickly purchased more vacation rentals and achieved financial and location independence, giving her the freedom to travel the world.
 
Outline of the episode:
 
[02:20] The concept of success growing up.
[03:28] On the golden handcuff syndrome and redefining her concept of success.
[07:07] Contingency plans in the hospitality industry.
[08:04] The yes and no's of people who have never done it.
[10:31] Choosing places suitable for short-term rental investments.
[19:28] Will your long-term rental property work well in the short-term?
[21:48] Bad experiences with Airbnb and how to facilitate occupancies for guests.
[26:46] Helpful technologies that support your property management.
[30:00] What long-term rental is if up against short-term rentals.
[30:44] The factors that contribute to an Airbnbs viability.
[37:26] Understanding your competitors and your target's needs when choosing a property to convert into STRs (Short-term Rentals).
[43:45] Owning a vacation home and making it earn for your future vacations.
 
Resources:
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Advice to an 18-20-year old:
Take more risk, and don’t just blindly follow your parents advice/plan
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Recommended resource(s):
Diya’s 1-hr short term rental (STR) course!
 
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Email:                    [email protected]
 
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Sponsor: Invest with us!
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Real Estate Investing Course: link