The goal of the Carpe Diem MD Short-Term Rental course is to guide you through the process of purchasing your first or next Short-Term Rental Property. The course will begin with choosing your market and progress to analyzing properties with the goal of completing your purchase. The course will also cover how to set up and manage your Short-Term Rental property including the process of automation. We have done the research to help you stream line your set up.
After completing this course you will be able to join a community of physician STR investors. This community functions as a resource for continued investing, support and Short-Term Rental guests. Members of the CDMD STR community enjoy 18% off of STR bookings at no cost to the host. As a guest you save 18% on your bookings and as an owner you gain vetted physician guests. Sign up for the course to learn how.
Next Course starts September 19th, 2022
This course is designed for Physicians by Physicians and we understand the stresses you experience in your profession. We know you can do this and can tell you that owning a STR is a great retreat.
It is possible to manage a STR with your schedule. In addition, you do not need to quit medicine to own and manage STR rental properties. Lastly, you can enjoy the tax benefits usually reserved for REPs via STR ownership.
You can do all this while continuing to practice medicine.
After your first STR purchase you will have the skills to manage your own property and the ability to add to your portfolio and scale.
Owning our Short-Term Rental has been one of the best decisions we ever made. We have made many great memories with family and friends at our property. The bonus is that the cost of this great vacation home has been covered by short-term rental income. It has truly been the best of both worlds.
The Carpe Diem MD Short-Term Rental Course will run for 8 weeks twice a year
The 8-week schedule is designed to allow you time to purchase a property during the course.
Pre-recorded content is released weekly along with LIVE weekly Q and A sessions.
In addition, members of the course have access to a private Facebook group where questions can be asked and answered throughout the course.
Topics covered in the CDMD STR course
The Mindset of Short-Term Rental Ownership
What type of Short-Term Rental Investor are you
How to analyze your market
How to analyze your property
Legal structure options
Insurance for Short-Term Rentals
Financing your Short-Term Rental
The Pros and Cons to Property Management vs Self Management
Finding an agent to assist you in making your first STR purchase
How to list your property on AIRBNB, VRBO, Booking.com
Successfully manage your own property
Automate your property management
Become comfortable with bookkeeping
Develop a process to scale if you want to build a STR portfolio
Join the CDMD STR Community of like-minded STR owners and enjoy 18% discounted bookings and referrals from within the community.
The waiting list is now open for September 2022.
What is the cost of the course?
Three payments of $850 ($2,550)
Is that cost worth it? Well let’s run the numbers
First, a full disclaimer. I took a real estate course for long term rental/multifamily investing and spent more than the above price. Paying for a course kept me on task and focused. I was not going to waste my education investment. That course was worth the cost and I hope you will have the same experience with the CDMD STR course.
$2,550 is a fraction of your College and Medical School education. At this price point you be introduced to an entirely different field. The course is designed to provide education tailored to Physicians and provide you the tools to invest in STR real estate.
Another way to look at the cost of the course is to analyze your potential returns (we can’t guarantee returns).
If you learn how to purchase cashflowing STRs through this course then you make your education investment worthwhile. For example, a property that cashflows $10,000 a year would result in a 4x return on your education investment.
Tax saving from a $500,000 property could be as high as $50,000 which would be a 20x return on your education. (We discuss how this is possible during the course)
Learning to self manage will save you 10-30% depending on your market. We are saving $8,000 per year (3x return on your education investment)
By joining the CDMD STR Community you will gain high quality referrals and receive 18% discounts on STR bookings.
Lastly, and most importantly, you will have a STR property that you can enjoy with your family and that is PRICELESS.
6 hours of CME will be available via the Physician Burnout and Wellness CME portion of the course
My husband and I took the course in hopes of jump starting our entry into the STR world. I am a physician, he is not, and we both found it very helpful. Ian and Lauren provided a great deal of high-quality information in an easy to digest format. The course pace is reasonable to keep up with and presentations are very thorough without being overwhelming. The live sessions were with Ian and Lauren themselves and the cohort was small, so there was plenty of time to discuss individual situations. Overall, we would recommend this course and are excited to apply our knowledge!
Amy A. (May 2022)
Dear Lauren and Ian,
My wife had always wanted a vacation home on a lake somewhere, and given our busy dual physician schedules and 2 young kids (with their own extended sport schedules), I had the mindset that this was not only impractical but also something we couldn’t legitimately afford. If I was not able to spend months at a time at the vacation rental, or work remotely from there every weekend, I could not justify “throwing money away”. I heard about some of the tax benefits of STRs but, come on, how was I going to furnish the place, figure out what price to charge, do maintenance etc, while still working full time?
The Carpe Diem MD course not only changed my mindset, but literally walked me through every single step, and you learn at your own time. It eased any anxiety I had about doing something new and different. You can re-watch segments, or watch them at 1.5X (or more) if you are pressed for time and just need a brief refresher. It doesn’t matter what stage you are in the process–whether you need to research locations, or are already in the bidding process. There is plenty of value with the weekly live Q&A sessions and the online Facebook community. Ian and Lauren have been very generous with their time for individual questions as they arose. There are plenty of tools too, from cash on cash calculators, to laminated instruction templates for your future guests. The course made me realize that if all these other like minded busy people are doing this, I can do it too. How do I log hours (let alone use a google spreadsheet)? What is considered a good deal? Which sheets should I buy? What is cost segregation? I needed to know EVERY single detail and this course provided exactly that.
This course not only provides CME (and thus is a business expense as well), but I am so glad that I can continue to refer to it indefinitely.
George S. (January 2022)
Hi Ian and Lauren,
We appreciated the detailed and paced STR course offered by Carpe Diem MD. The pace and content were manageable. The material was concise, yet the opportunity to have weekly zoom meetings was beneficial and customizable. Thank you for the support and motivation.
Heidi A. MD (January 2022)
Hi Lauren and Ian,
The Carpe Diem MD course on short-term rentals successfully took me from STR noob to confident investor. The course was laid-out in a logical progression with a time-line over 8 weeks which allowed me to work it into my life as a busy professional with young kids.
The content was easy to digest and covered the entire process from market selection to listing and management. Step-by-step demonstrations of how to set-up various apps were extremely helpful and I’m sure saved a lot of time, trial and error, and frustration.
The financial model to project income was very easy to use and quite elegant in its simplicity. It takes literally 5-10 minutes to perform the financial analysis, which blows my mind.
In my opinion, the most valuable part of the course was Ian and Lauren’s availability and willingness to answer individual questions.
Questions posted to the Facebook group were always answered quickly and insightfully. The weekly group Q&A calls were also very useful to hear questions from others that hadn’t occurred to me.
Before the course, I never planned to self-manage, but the course showed me that it can be done relatively easily with the appropriate tools for automation.
From an ROI perspective, I’m certain that the CDMD course will pay for itself several times over in the first year or 2 (given that STR property managers typically charge 20-30% of income).
In all, I thought the course prepared me well to invest in and manage short-term rentals, and the individual support made the process much less vague and scary.
Thanks again! We’re already thinking about our next STR….
All the best,
Alex (September 2021)
Dear Ian and Lauren,
I would honestly and earnestly recommend this course without hesitation to any physician, high income professional, or anybody really that is looking to increase their income while reducing their overall tax exposure and build their real estate portfolio. The course is laid out in a very logical manner and literally walks you through every step of the process.
CarpeDiemMD helped me learn how to evaluate, select, purchase and manage my short term rental property. This course is high yield and immediately applicable. I just finished the program and I am in the process of purchasing my first short term rental property. I’ve been planning to do this for a while now and CarpeDiemMD gave me the tools and the confidence to execute on that plan.
Nathan C. – Interventional Radiology (May 2021)
Hi Ian and Lauren,
Jon and I can’t express enough how valuable your course has been to us. We took
___________ in Winter 2020 and were actively searching for rentals to invest in for months before deciding to shift gears and pursue STRs to start our portfolio.
In an interesting twist, we found and quickly locked up our first property in Northern MI a few weeks before the course began. Even in the beginning modules, while familiar with a lot of the content presented because of what we learned in _____, we could really see how valuable this course would be to us because of the pearls and concepts unique to STRs you include in each module. This wealth of information has increased exponentially for us as the course has progressed and we learned about setting up all of the components needed to run our STR.
We are especially grateful for your detailed walk-through explanations of how to set up these accounts and integrate them efficiently. We love your modified COC calculator and the portion dedicated to tax savings.
Perhaps the greatest positive for us in taking your course is that over time we really did overcome our limiting belief about being able to manage this property ourselves. We joined this course with the plan of using a property manager all along. We thought it would be interesting to hear how you could self manage, but that we couldn’t really entertain as a possibility right now.
Our thinking has completely turned around and you have thoroughly illustrated how we can do this on our own. We’ve been working like crazy to get this property set up and can’t wait until we can share with you and the rest of the community! We’re very excited that you’ve created a membership community as well and we look forward to participating as we grow our portfolio. We can’t thank you both enough!
Jon and Betsy (May 2021)