Wealth creation can be an elusive, complex, and multi-dimensional process. Radical Wealth Plan, hosted by Paul Morris, makes building wealth in real estate accessible to everyone, of all walks of life, shattering perceived barriers and ceilings. He adamantly believes “we can show everyone how to do it,” though he concedes, not everyone will. How do we find and fulfill our own personal vision of wealth while embracing freedom and living a fulfilling and purposeful life? In Radical Wealth Plan, New York Times Best-seller, prolific investor, award-winning entrepreneur, and thought leader, Paul Morris distills the best strategies for building wealth through real estate. In subsequent episodes, Paul interviews the brightest minds in real estate and beyond to empower you to choose and create what you've always imagined–but may have seemed to be just out of your reach. So whether you’re new to the game, an investment professional, or a real estate titan, join us to be entertained, educated, and inspired. This is Radical Wealth Plan presented by Entrepreneur.
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Wealth creation can be an elusive, complex, and multi-dimensional process. Radical Wealth Plan, hosted by Paul Morris, makes building wealth in real estate accessible to everyone, of all walks of life, shattering perceived barriers and ceilings. He adamantly believes “we can show everyone how to do it,” though he concedes, not everyone will. How do we find and fulfill our own personal vision of wealth while embracing freedom and living a fulfilling and purposeful life? In Radical Wealth Plan, New York Times Best-seller, prolific investor, award-winning entrepreneur, and thought leader, Paul Morris distills the best strategies for building wealth through real estate. In subsequent episodes, Paul interviews the brightest minds in real estate and beyond to empower you to choose and create what you've always imagined–but may have seemed to be just out of your reach. So whether you’re new to the game, an investment professional, or a real estate titan, join us to be entertained, educated, and inspired. This is Radical Wealth Plan presented by Entrepreneur.
How She Turned a Foreclosure Into a Cash-Flowing Vacation Rental
Radical Wealth Plan
1 hour 16 minutes
3 months ago
How She Turned a Foreclosure Into a Cash-Flowing Vacation Rental
Welcome back to Radical Wealth Plan, hosted by Paul Mark Morris and brought to you by Entrepreneur Media. Today I’m joined by Lizbeth Scordo, a journalist turned real estate agent and investor who has built a thriving portfolio in Palm Springs. We dive into her journey from buying a short sale during the Great Recession to transforming a mid-century fixer into a high-demand vacation rental. Lizbeth shares the lessons she learned from her early break-even deal, why passion for a place can be a real advantage, and how she turned risk into reward by knowing her market inside and out. This conversation is packed with insights for anyone looking to de-risk their investments and create real cash flow through real estate.
Connect with Paul:
https://www.instagram.com/paulmarkmorris/
Connect with Lizbeth:
https://www.instagram.com/modlizbeth/
Timestamps
00:00:00 Introduction and Guest Background
00:00:53 First Investment in Palm Springs
00:03:42 The 2008 Real Estate Market Crash
00:05:34 Navigating a Down Market
00:09:42 Identifying Market Indicators
00:19:55 Transition to a New Property
00:23:10 Challenges and Learnings
00:39:36 Home Renovation Insights
00:40:38 Creating a Unique Vacation Rental Experience
00:43:22 Airbnb Bookings and Guest Management
00:46:41 Exploring Real Estate Investments
00:47:32 Managing Rentals in Different Locations
00:50:57 Downtown LA and the Arts District
00:54:58 Vacation Rental Market Trends
01:10:13 Magic Tricks and Personal Reflections
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Radical Wealth Plan
Wealth creation can be an elusive, complex, and multi-dimensional process. Radical Wealth Plan, hosted by Paul Morris, makes building wealth in real estate accessible to everyone, of all walks of life, shattering perceived barriers and ceilings. He adamantly believes “we can show everyone how to do it,” though he concedes, not everyone will. How do we find and fulfill our own personal vision of wealth while embracing freedom and living a fulfilling and purposeful life? In Radical Wealth Plan, New York Times Best-seller, prolific investor, award-winning entrepreneur, and thought leader, Paul Morris distills the best strategies for building wealth through real estate. In subsequent episodes, Paul interviews the brightest minds in real estate and beyond to empower you to choose and create what you've always imagined–but may have seemed to be just out of your reach. So whether you’re new to the game, an investment professional, or a real estate titan, join us to be entertained, educated, and inspired. This is Radical Wealth Plan presented by Entrepreneur.
