From Burnout to Business: How Kerri Gibson Transformed Real Estate into a Thriving Short-Term Rental Empire

In today’s fast-paced world, many professionals seek new paths that align with their passions while offering financial independence.

Kerri Gibson, a former public accountant, found herself on such a journey.

After battling burnout in her high-stress career, she took a bold step into real estate investment in
2017.

Alongside her partner Philippe, Kerri’s initial venture involved purchasing a property to renovate and flip.

Little did they know, this decision would pave the way for the creation of a thriving short-term rental business, Chalets Hygge.

In this article, we’ll explore Kerri’s inspiring transformation, her insights on the realities of short-term rentals, and the strategies that ultimately led to her success in the real estate market.

Key Takeaways

• Kerri Gibson shifted from a high-stress accounting career to a successful real estate venture after facing burnout.
• Short-term rentals require significant hands-on work and dedication, contrary to the myth of being a passive income source.
• Kerri's journey illustrates the importance of reinvesting earnings for growth and gaining fulfillment through learning and creativity in business.

The Journey from Accountant to Real Estate Investor

### The Journey from Accountant to Real Estate Investor
Kerri Gibson, once a public accountant, took a bold step into the world of real estate investment in
2017.

After battling burnout in her high-stress accounting role, she sought a career that offered both excitement and fulfillment.

Partnering with Philippe, Kerri's initial foray into real estate involved purchasing a fixer-upper, which they skillfully renovated and flipped.

However, as their passion for real estate grew, they pivoted towards short-term rentals.

Encouraged by the potential income, they listed their first property on Airbnb, marking the inception of their full-time venture, Chalets Hygge.

Despite the allure of short-term rentals, Kerri stresses that they are anything but passive income sources.

Their journey began with an investment of CA$129,000 on their first rental property in December 2017, plus an additional CA$75,000 for renovations, showcasing the hands-on approach they adopted.

Their second property followed swiftly, acquired in June 2018 for CA$188,000, which was renovated in just two months, exemplifying their commitment and efficiency.

By March 2019, their portfolio expanded to three rental properties, yet they chose to reinvest all generated income into further renovations rather than cashing out.

Through this transformative journey, Kerri discovered a profound satisfaction in the creative aspects of real estate, particularly in architecture and design.

Their experience highlights the intricacies of managing a successful short-term rental business in an ever-changing market.

As they continue to grow Chalets Hygge, Kerri's background in accounting provides invaluable insights into financial management, ensuring their investments yield long-term success.

Building a Short-Term Rental Empire: Challenges and Strategies

In addition to the financial investment required, building a short-term rental empire involves navigating a myriad of challenges that can test even the most seasoned investors.

Regulatory hurdles can vary widely from one location to another, with some municipalities imposing strict short-term rental laws, requiring permits, or even banning rentals altogether.

Kerri emphasizes the importance of thorough research before acquiring properties to understand local regulations.

Furthermore, managing guest expectations is crucial; this includes ensuring high-quality accommodations, exceptional customer service, and proactive maintenance.

To address these challenges, Kerri and Philippe implemented a robust management system and streamlined operations, leveraging technology for booking and communication.

This strategic planning has been essential in optimizing their revenue and ensuring positive guest experiences, ultimately leading to the growth of Chalets Hygge in a competitive market.

While the road to success is paved with obstacles, Kerri's journey illustrates the potential rewards of perseverance and strategic decision-making in the short-term rental landscape.