In 2020, real estate ghostwriter and retired professor David Demers was in a financial pickle. A recent divorce meant he was now paying all of the bills for himself and his daughter, who was in college. His Social Security check and ghostwriting income weren't enough to cover all expenses. So, at age 67, he tapped his assets (borrowed on the equity in his home), purchased a condo to live in, and began leasing his modest Phoenix home through Airbnb and Vrbo. A year later his financial problem was solved. His rental home was generating more than $43,000 in annual profits. In TAP YOUR A$$ETS, Dr. Dave shows you how to purchase a house for as little as 3.5% down and convert that or your existing home into a short- or long-term rental that can generate $50,000 or more a year in profits. TAP YOUR A$$ETS also will show you how to (1) accurately estimate profits before you make a decision to buy, (2) create a limited liability company to protect your assets, (3) post your property on Airbnb and Vrbo or Zillow, (4) maintain your property and keep 5-star ratings rolling in, and (5) calculate interest and depreciation savings, and do your taxes.
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