This is my honest review of the Carpe Diem MD Short Term Rental Course. In short, I think it’s a great course.
This post may contain affiliate links.
TLDR (too long, didn’t read) version
I really enjoyed the Carpe Diem MD short term rental course. It was stuffed full of actionable, high yield advice about how to acquire, set up, and rent out a short term rental on Airbnb and VRBO. It also gave me access to ongoing support that will help me as I build my short term rental business.
Their early 2023 course starts on February 13, 2023. Sign up now via my affiliate link below for 20% off the purchase price and a free copy of my eBook “How to Control Your Financial Destiny!”
It includes CME, so you can use your CME allowance to pay for it!
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As a surgeon, I currently need to work full time to fund my lifestyle here in California. But I’ve made it a goal to create a financially independent future for my family that will allow me to make work optional.
I initially focused on achieving this through brute force savings into retirement funds and taxable brokerage accounts. In the last two years, I’ve shifted into real estate investing when I realized that this can get me to moFIRE much faster. I hope to hit financial independence within the next 10 years.
The vast majority of my 28 unit portfolio is in long term rental properties in the midwest. But as I reported recently, the Dr-ess and I just bought a property in Palm Spring, California as a dual purpose home: a great weekend vacation home and luxury short term rental.
There are some tantalizing tax benefits that we can access via this short term rental (I’ll address these in a future post). We are also excited about the challenge of a new form of real estate investing too.
But even as experienced real estate investors, this is a new adventure for us. How did we get the courage to invest in a short term rental? We took a short term rental course! Our growth in long term real estate was jump started by the Semi-Retired MD’s course in 2020, so I’m a big believer in spending money to gain knowledge.
This post today is my review of the Carpe Diem MD’s short term rental course.
Your course creators
This course is hosted by Drs. Ian Cook and Lauren Ihde. They are both physicians and the voices behind the PhREI Network partner blog Carpe Diem MD. Their philosophy is summed up well by their catch phrase “ Enjoy your journey to financial freedom”.
They are experienced real estate investors with 5 years of experience in the short term rental space.
I really love the way they approach work, life, and investing: they want to set up their lives to maximize the joy of their present lives, even as they build a financial portfolio to eventually achieve financial freedom.
In short, I loved the course. It’s chock full of really useful, actionable content. It’s the same style of content that attracted me to their blog in the first place.
Take a look at this post for a good example of this style: The Best Smart TV for Your Short Term Rental
I also love that Lauren and Ian partnered to create the videos. They take turns explaining the key concepts, which makes the content much more enjoyable.
General course Description
The course is an 8 week guided tour with both virtual and live content.
The virtual content is housed in Kajabi, which is the premier educational interface for course creators. They have a sleek app for your phone and a web version that neatly organizes all the modules into different weeks.
The live content includes weekly group video calls with Ian and Lauren, as well as ongoing daily support via their Facebook community.
Detailed course outline
- Mindset of a short-term rental investor
- How to analyze and choose your market
- How to analyze your property
- The Carpe Diem STR calculator
- How to build your team
- Self management vs. using property management
- Financing and insurance
- How to make an offer and secure the deal
- Asset protection and cost segregation
- Airbnb and VRBO set up
- Integration with automation tools
- Advanced techniques: Automation and pricing tool
- How to scale your portfolio
- Plus much more!
Bonus content interviews
- Brandon Hall: The Real Estate CPA
- Jeffrey Butler: Cost Segregation Authority
- Martin Rodriguez: Wintrust mortgage
- Nicholas Massey: Proper Insurance
- Cynthia Fleming: Ready4Rentals
I hope you enjoyed my review of The Carpe Diem MD short term rental course. In short, I think it’s a great course. It gives you all the tools you need to research, obtain, and set up a short term rental. It goes beyond high level overviews and really shows you how to take action.
Sign up via my affiliate link below and receive a free copy of my eBook: “How to Control Your Financial Destiny!” (Email me at [email protected] after purchase.)
Click here to join the waitlist!
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Does it go over how to actually source deals? I read so many real estate books and am familiar with how to analyze and have an opinion whether a deal is good or not but one thing that I’m missing is how to actually source the deals. I look on Zillow, etc. but I can never know if they are good resources or not.
Hey David, yes the course has a module addressing this – in Week 2!