Yes, you read that correctly. Can you believe it? Oh, you can? OK, so can we. JoJo Fletcher and Jordan Rodgers of Bachelorette fame have a brand-new home renovating show called Cash Pad on CNBC.
Fans of the couple won't be surprised, considering Fletcher was a house flipper before she went on The Bachelor. Since finding love on TV when she starred as The Bachelorette, she and her fiancé Rodgers have been documenting their real estate business on Instagram.
Cash Pad, however, will be "different than what people are used to seeing on their TVs when it comes to renovation," Rodgers says.
Rodgers and Fletcher will invest $30,000 to $50,000 in people's properties — whether that's a guest house, garage or trailer — and flip it into an Airbnb or short-term rental.
"Along the way, we're educating homeowners on how to be better, how to list, how to manage, what to put into their Airbnb or their short-term rental to increase their nightly rate, increase their occupancy, make more money. So it's very educational, it's very fast-paced, it's very relatable to every single person because it's not $150,000 to $200,000 investments, it's something that is attainable," Rodgers says.
It's Fletcher's and Rodgers' money that's being invested into these homes — the homeowners have zero investment, Rodgers says.
"The way the business works is depending on the property or area, we'll guarantee a certain amount of monthly rents and then we'll share in the profits above that, so really it's our job to make sure the investment makes sense for the amount of money we're going to list it for and then we'll make our investment back on the profits as it becomes a successful short-term rental and business," he says.
Even though before they landed their own TV show, Fletcher says this was never their "end goal." Instead, it's something she's always done and will continue to do.
Fletcher says while Rodgers started out as her "free labor," their work now is 50-50. Rodgers even acts as her "construction therapist."
"That's what I've come to realize through this whole thing," Fletcher says. "Anytime I'm on the fence about something, he literally will guide me to whatever I'm deep down thinking that I want, so he's very helpful in that."
On Cash Pad, the couple flipped two places in Dallas, four in Austin and two in Phoenix. Rodgers says the real estate market is "booming" in Dallas, so homeowners should look into turning a part of their home into short-term rental spaces.
"People come to Dallas for numerous reasons and obviously, in the last few years, the short-term rental market has gained a ton of ground on the hotel market," Rodgers says. "This generation of travelers are looking to experience as they travel, so they kind of immerse themselves in the city, and that's the niche market that we're going after."
On Fletcher's and Rodgers' YouTube show, the couple, who have been engaged for more than three years, told fans they would set a wedding date in 2019. Fletcher says that's next on their to-do list.
"Well, funny you ask," Fletcher says. "We finished three days ago, and next on our list is to go check out a couple of venues and see what they have available for next year."
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