Sep 29, 2022
Today, I'm interviewing Dr. Rachel Gainsbrugh. Rachel is a specialist in luxury short-term rentals. We're talking about her journey of being a pharmacist and starting to invest in real estate. And ultimately realizing that she loved it and wanted to spend more time doing it. She has left her full-time position and does consulting now in the pharmaceutical world. And she focuses on these luxurious short-term rentals, teaching people how to do the same. Such a fun conversation. I know you're going to take away a lot especially if you're interested in someday having a short-term rental or maybe you already do. I have learned so many things from this great conversation. Enjoy.
Dr. Rachel shares with us her insights:
- I think as healthcare professionals, we sometimes get the shorter end of the stick right. Everyone's like - 'Oh, she's so fancy. She's got all this money coming in'. But they don't see the fourteen hours work, the night shift, the moonlighting, the missing out on family milestones. And I knew there has to be another way other than just working more shifts and working more shifts like there are no more shifts left for not to work awhile, you know. There's not enough dollars, you know; hours to trade for, you know, dollars, not hours. And so that's really where it all started, and me wanting to just cut back a little bit right. You don't go into medicine to walk away from medicine; wanted to cut back; wanted to schedule life on my own terms; work the date that I wanted to work. And I wanted to not buy another job. So the business that I selected to go into and I went all in. It was short-term rental investing, specifically - luxury short-term rental investing. And it doesn't have to, you know, cost an arm and a leg to go luxury, and we can talk about that. But the reason I want luxury is, I felt as though the numbers made sense. I can get a bigger bang for my buck. We just have to manage less right. Less is more. So, I wanted to take it a little bit on a minimalistic approach. I didn't want to manage, you know, twenty doors or a whole bunch of tenants. I said - 'Well, what if I just got one? What if I just got two?'. And we did wrote a portfolio with the systems and the health, you know. We got up to twenty two. We're down to eighteen. For us, you know, anything around five or six is more than enough right. And so less is more for me for sure. But that's really why I went into luxury short-term rental investing out of all of the real estate strategies out there.
- Absolutely. And you know, the flow or lack there of that I was afraid of, or I was anticipating. Well, you know, well that steady, wonderful, cushiony golden handcuffs paycheck is not going to come in. I was able to more than four X my income, my annual income in just a short amount of time, you know. So, from focusing on multiple things, I was able to get laser focus and look at some gaps, rearranged some things both in the real estate portfolio as well as in the coaching. And it was really never about the money. It was definitely a mindset in my situation. And I'm just in awe. I'm still in awe because there's so much pleasure that comes out of that teaching and really helping others who are medical professionals burnt out like I was, you know. Get that breakthrough right? And what happens when they get that breakthrough? They tell their friends -'Hey, Rachel, you know, is on to something, and you know membership, you know growth and just being able to pour into that community. That's first and foremost, you know, my goal. And you know, money flows. The more people you help, the more money comes in.
- Absolutely, absolutely. And even as I was still thinking about her, even as I was telling her - 'Okay, that was an anomaly. What I told her, and I see the text because I just reviewed it, because, you know, 8K. Maybe 10K. 16K. That was anomaly. Well, she did it again, and then she did - 'Oh my goodness!'. Even with the attitude of abundance that I try to push for, I still have my own limiting belief, and I just sat back. And I was like, you know what, let me sit down and be quiet because here I am with like a thimble XL, right? But it was blowing in. So you're absolutely right, Leisa. Oh, my goodness! And I always pray, and that's something that I'm really passionate about. Because initially, like you said, I thought - 'Oh, maybe this is... I shouldn't tell people about this because these numbers seem outrageous, right? And the reason I do tell the shore is I want to inspire. And I want others to have even better deals than I could ever dream of. And I tell myself, I pray that you have better deals that I could ever hope for. And when they come back and they're showing me deals like - 'Yes, yes, yes, yes, and I love to showcase that because it's not just a Rachel thing, you know. Even I was thinking - 'Oh, maybe this isn't just a Rachel thing, because this is weird. But it's out there. It really is.
Born in Haiti, the poorest country in the Western Hemisphere, Dr. Rachel was driven to make a difference and not take her parents' sacrifices for granted. She was raised in the inner-city of Miami where she worked hard, got straight A’s and went on to get her doctorate. Unfortunately, financial literacy was not part of the curriculum—and she graduated with a whopping $500,000 in student loan debt. She struggled, burned the candle at both ends, worked multiple extra hospital shifts to pay it off… until she discovered real estate and digital courses.
Fast forward to now, Dr. Rachel is a semi-retired pharmacist, Luxury AirBNB Real Estate Investor, Educator, Public Speaker, Podcast Host, Course Creator, Coach, and a mom to two boys 24/7! She’s also a newly minted best-selling contributing author & filmed for a Netflix TV show highlighting her property (air date and show name TBD—so stay tuned for updates!)
Rachel is “all-in” on short-term rentals because it helped her husband to retire at 46 from a stressful psychotherapy practice. And now she’s semi-retired from pharmacy at 41! She believes that no other real estate strategy would have afforded her this early and abundant exit. But what excites her the most is the 47 medical professionals she’s helped ditch burnout by launching their VERY own profit-generating luxury short-term rental. And that number will only continue to go up!
She runs a concierge coaching program, powered by her digital course, The Luxury Short-Term Rental Academy, designed to help medical professionals grow their investments by adding just ONE luxury short-term rental to their portfolio. Her approach is contrary to most real-estate coaching “gurus”—Rachel teaches her students how to own and operate the FEWEST number of properties to generate the HIGHEST profitability. She reveals how to accomplish this in less than 4 hours a week so they can have the time, freedom and financial stability to live life on their own terms, however that looks like for them!
Ultimately, Dr. Rachel’s mission is to impact the financial wellness of over 1M women in healthcare so that they can thrive in their personal life while taking their patient care to incredible new heights.
Learn more about Dr. Rachel Gainsbrugh:
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https://www.linkedin.com/in/dr-rachel-gainsbrugh-4bb33721
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https://www.facebook.com/shorttermgems
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