Episode•June 23, 2022•17 min

Adulting is Easy with Lauren Aumond | Ep. 116

Lauren joins Tiffany in this episode and share her experience managing long-term and short-term rentals. Lauren breaks down everything you need to know about getting started with rental property investing, and how you can start making easy passive income. About Our Guest Lauren is a podcast host and real estate investor based in the Tampa Bay area of Florida. She's passionate about personal finance and investing. Lauren has a Bachelor's of Finance from the University of Florida and a Graduate Certificate in Financial Planning from Boston University. She and her husband have 8 short-term rentals and 4 long-term rentals. They plan to retire from their 9-5s before age 40. Connect with Lauren Instagram: https://www.instagram.com/adultingiseasyreal/ Twitter: @adultingiseasy Connect with Tiffany on Social Media Facebook: Money Talk With Tiff Twitter: @moneytalkwitht Instagram: @moneytalkwitht LinkedIn: Tiffany Grant This podcast uses the following third-party services for analysis: Podcorn - https://podcorn.com/privacy OP3 - https://op3.dev/privacy

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Key Takeaways

1
Short-term rentals can generate 2-2.5x more net income than long-term rentals but require significantly more daily management.
Short-term rentals are cleaned multiple times per week versus potential neglect in long-term rentals
Guests are typically on vacation and happier than tenants who only call when something is wrong
Short-term rentals incentivize owners to maintain beautiful properties and yards
2
Having specific investment criteria makes real estate decisions faster and more effective.
Narrow criteria reduce overwhelming Zillow searches and enable quick action
Criteria can evolve over time as investment goals change
Lauren started with single family, moved to duplex, then to six-unit building
3
House hacking and strategic property selection can accelerate real estate portfolio growth.
House hacking involves living in part of a property while renting out other portions
The Tarpon Springs bed and breakfast purchase included commercially zoned cottages already functioning as short-term rentals
A cash-out refinance after renovations funded additional property purchases
4
The FIRE movement can combine real estate and stock market income streams for earlier retirement.
Target: $50,000 from rentals + $50,000 from stocks to cover $100,000 annual expenses
Short-term rentals alone net $40,000-$50,000 yearly for Lauren and her husband
Their current yearly expenses are only $40,000, making them technically financially independent already

Intro

Lauren Aumond joins Tiffany to discuss her journey from long-term to short-term rental investing, sharing practical strategies for building passive income through real estate.
Lauren is a podcast host and real estate investor based in Tampa Bay, Florida with a Bachelor's in Finance from University of Florida and a Graduate Certificate in Financial Planning from Boston University. She and her husband own 8 short-term rentals and 4 long-term rentals across just 3 properties, with plans to retire before age 40.

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– Understanding Short-Term vs Long-Term Rentals

Lauren defines short-term rentals as properties rented for less than 30 days multiple times per year, typically through platforms like Airbnb and VRBO. Long-term rentals involve 6-12 month leases or month-to-month arrangements.

I think of a short-term rental as something where it's rented for less than 30 days multiple times per year.
– Lauren

– The Transition from Long-Term to Short-Term Strategy

The couple initially planned a long-term rental portfolio but discovered a commercially functioning bed and breakfast in Tarpon Springs with lodging zoning. The property had been on the market for six months with a $100,000 price reduction, and they negotiated an additional $50,000 off during COVID.

It needed a ton of work. We did that work. We did a cash out refi, took that money, bought another short-term rental.
– Lauren

– Pros of Short-Term Rentals Over Long-Term

Short-term rentals provide higher income potential and force better property maintenance. Guests on vacation tend to be happier than tenants who typically only contact owners when problems arise.

Higher net income (2-2.5x more than long-term)
Properties cleaned multiple times weekly
Happy vacation guests versus problem-focused tenants
Owner-use flexibility through property arbitrage

– FIRE Strategy: Combining Real Estate and Stocks

Lauren explains the math behind early retirement: needing $2.5 million in stocks for $100,000 annual income at a 4% withdrawal rate. Their hybrid approach targets $50,000 from rentals and $50,000 from stocks, requiring less total capital.

Short-term rentals alone will net about $40,000 to $50,000. So technically... we're financially independent.
– Lauren

– Where to Find Lauren

Lauren is most active on Twitter @adultingiseasy, and also maintains Instagram @adultingiseasyreal, her website realadultingiseasy.com, and her podcast 'Adulting is Easy' focused on making personal finance accessible.

Resources

Topics

real estate investingshort-term rentalsAirbnbFIRE movementpassive incomehouse hackinglong-term rentalsearly retirementproperty managementfinancial independence