Hannah Hammond narrates her personal journey of purchasing her first property during college, renovating and furnishing it, then using the learnings to create a midterm fully furnished rental business. She describes buying a second property to rent furnished, repeating the buy-renovate-move-on pattern to force appreciation and scale her assets, which she credits with helping her become a millionaire at a relatively young age.
Chapters
With the money that I made, I bought my first property. I needed a place to live during college, so I bought what I could afford, save some cash, and invested in some stocks. I bought something that I could add value to because I wanted to be able to force appreciation and equity into it. So I, you know, bought a property, I renovated it, hiring subcontractors, went through all the. The pains of renovation, and then furnished it, lived in it. And then I was able, as soon as I was able to buy another property, I bought another property and I rented that one out fully furnished. So that's how I learned about fully furnished rentals. It was already furnished, so figured I'd list it as a fully furnished, like, midterm rental. And I did really, really well. And so I continued down that kind of midterm furnished model for a while, and I just kept buying properties, and once I could buy another one, I'd move out of the one that I had renovated. And that is what added, you know, the appreciation of my assets is really what helped me become a millionaire at a pretty young age.