Scripted Wealth | Money & Meaning for Pharmacists: YFP Real Estate Investing 46: Building a Family Business Around Motel Hacking

YFP Real Estate Investing 46: Building a Family Business Around Motel Hacking

Feb 26, 2022

Stewart Olney, PharmD and Elizabeth Olney, Realtor discuss their real estate investing path from house hacking by renting out a spare room to motel hacking and building a real estate business through hotel and motel investments.

Key Points From This Episode

Introducing today’s guests Stewart Olney, PharmD, and Elizabeth Olney.
Stewart’s journey as a pharmacist and how that ties into his introduction to real estate.
Why Airbnb has been an integral tool for Stewart and Elizabeth’s real estate journey.
Stewart and Elizabeth’s limited budget after her first pregnancy.
How YouTube initially helped them with doing all the rehabilitation work themselves.
How they learned from the mistakes of others as well as trial and error.
Why Stewart describes their approach as ‘house hacking’.
How moving into the homes they purchased unlocked access to advantageous financing.
The story of how they purchased the motel in which they currently live.
How they have used technological innovations and AirBnB services to automate and streamline their check-in and check-out processes.
A breakdown of their plan to purchase and run another motel in their area.
Insights into commercial loans and how they differ from other loans.
Why getting outside help with property management has had such a positive impact on their lives.
The resources that have had the biggest impact on their real estate journey.
Their top advice for any pharmacist who wants to start investing in real estate.

Links Mentioned in Today’s Episode