Podcasts about short term rentals

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  • 416PODCASTS
  • 1,127EPISODES
  • 37mAVG DURATION
  • 1DAILY NEW EPISODE
  • Jan 12, 2022LATEST

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Best podcasts about short term rentals

Show all podcasts related to short term rentals

Latest podcast episodes about short term rentals

The Big Break Show
#7 The Best Ways to Invest In Luxury Airbnbs While Holding a 9-5 w/ Rachel D. Gainsbrugh

The Big Break Show

Play Episode Listen Later Jan 12, 2022 65:24


In this episode we discuss Luxury  Short Term Rental investing with Dr. Rachel D. Gainsbrugh. She teaches busy healthcare professionals how to leverage and invest for passive income all while still holding a fast paced career in the medical field. 

Checking In with Anthony & Glenn
453: Make Extra $$ Selling Amenities to Short Term Rental/ Boutique Hotel Guests!

Checking In with Anthony & Glenn

Play Episode Listen Later Jan 12, 2022 38:34


The Host Co. is helping short term rental owners add some of the best amenities to their offers. How can owners personalize their offerings to help stand out? CEO/ Founder Annie Sloan and Founder Mikel Hubbard join to talk about how they can add value for everyone involved.

No Vacancy with Glenn Haussman
565: Make Extra $$ Selling Amenities to Short Term Rental/ Boutique Hotel Guests!

No Vacancy with Glenn Haussman

Play Episode Listen Later Jan 12, 2022 39:17


The Host Co. is helping short term rental owners add some of the best amenities to their offers. How can owners personalize their offerings to help stand out? Annie Sloan and Mikel Hubbard join to talk about how they can add value for everyone involved.

Noelle Randall Podcast
How Does Airbnb Work For Guests?

Noelle Randall Podcast

Play Episode Listen Later Jan 12, 2022 11:16


So far, we've talked a lot about how Airbnb works for the host, but how does Airbnb work for the guest? I promise you, it's not how you think! In today's episode, I'm going to tell you how Airbnb works for those on the other side of the fence, and how you can use that to your advantage.WEBSITE: http://www.noellerandall.comTEL: 888-479-4542Listen And Enjoy!Noelle RandallSupport the show (http://www.paypal.me/noellerandall1)

Slick Talk: The Hospitality Podcast
Connecting The Short-Term Rental Industry In More Ways with Jeff Iloulian

Slick Talk: The Hospitality Podcast

Play Episode Listen Later Jan 7, 2022 34:07


The final bonus episode from the VRMA International Conference and this one is much needed for hosts and professional property managers! We all know that furniture and purchasing furniture for one property or multiple properties can be a real pain and Host GPO is helping operators standardize that process and save a few dollars along the way! Learn more about https://members.hostgpo.com/users/signup/ (Host GPO) and https://www.linkedin.com/in/jeff-iloulian-bb0b6829/ (Jeff) on LinkedIn and on their website! Shoutout to our show sponsors Jurny & NoiseAware for letting us bring these in-person episodes to life and on the airwaves!

Noelle Randall Podcast
How To Put Your Property On Airbnb

Noelle Randall Podcast

Play Episode Listen Later Jan 6, 2022 9:44


Airbnb is one of the best opportunities for you right now when it comes to real estate. It's really easy to start running your own Airbnb business, and today, I'm going to talk about how you can get started in doing so. I've got a lot of information to share with you! Stay Tuned!Website: http://www.noellerandall.comTEL: 888-479-4542Listen And Enjoy!Noelle RandallSupport the show (http://www.paypal.me/noellerandall1)

Vacation Rental Success
VRS423 - Building Your Short-Term Rental Brand with Amber Hurdle

Vacation Rental Success

Play Episode Listen Later Jan 5, 2022 55:58


This episode is sponsored by the Virtual Vendor Showcase. You can discover more about the Virtual Vendor Showcase here: https://vacationrentalformula.com/vvs Listening to this podcast on the move? Get to the show notes here: https://www.vacationrentalformula.com/VRS423 Want to get access to some of our best tools? Get The Toolbox >> https://www.vacationrentalformula.com/toolbox

Brick x Brick Podcast
Short-Term Rentals as an Asset Class

Brick x Brick Podcast

Play Episode Listen Later Jan 5, 2022 45:13


A year after Airbnb's IPO, it's fair to say STRs as an asset class are here to stay.  But, where are we in the life cycle of this emerging asset class? And what does the future hold? Tune in as we dive into the trends we expect to shape the future of hospitality.

Millennial Investing - The Investor’s Podcast Network
REI103: The Truth About Airbnb Investing w/ Travis Zappia

Millennial Investing - The Investor’s Podcast Network

Play Episode Listen Later Jan 3, 2022 62:57


IN THIS EPISODE, YOU'LL LEARN:11:33 - What short-term rentals are and how to invest in them.17:35 - How to find the right markets to invest in.24:39 - Pros and cons of this strategy.29:06 - How to get started with short-term rental investing.35:23 - How to analyze a short-term rental deal.49:22 - How to finance the acquisition of a short-term rental.56:51 - How to screen potential renters.And much, much more!*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.EPISODE RESOURCESGet more content from Robert.Learn about our Investing Starter Packs on real estate.Airbnb & Short-Term Rentals w/ Tony Robinson.Short-Term Rental, Long-Term Wealth book.Gary Keller's book The Millionaire Real Estate Investor.All of Robert's favorite books.Support our free podcast by supporting our sponsors.Read this episode's transcript and full show notes on our website.Connect with Robert: Website | Instagram | TwitterConnect with Travis: Instagram | AirbnbSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Just Start Real Estate with Mike Simmons
Turning Multifamily Properties Into Short Term Rental Cash Cows with Nico Ortega

Just Start Real Estate with Mike Simmons

Play Episode Listen Later Jan 3, 2022 50:13


My guest today is Nico Ortega. Nico is the co-founder and CEO at NUOVO. He has over eight years of experience in real estate development and more than five years of experience in real estate short-term rental multifamily properties. He's knowledgeable in all aspects of the hospitality industry, from sourcing, management, operations, CXP,  and sales. He has proven management and leadership skills demonstrated by increasing property owners' rental income with a margin of 20-30 % from what they earned before.  We begin the episode with Nico sharing his background story and how he got into real estate. After graduating from college, he started working with his brother, who was in the industry but needed help with commercial real estate brokerages for a shopping mall. Two to three years later, they sold their project and went over to Miami, partnered, and did more projects in the real estate. They started their operations with five units of multifamily properties. We then talk about Nico's focus and the strategies they employed to identify properties that met their criteria. He says that their focus from the beginning was multifamily houses that were in top shape. They went after class A properties in downtown locations, so there was no need to negotiate renovation costs. To identify the suitable properties, they used a filter to select the best multifamily units available. For Nico, If he was to go back to 2015, he would take the same steps, but he would choose a different route in today's real estate environment. Between 2015 and today, there have been a lot of new entrants in the market that are doing it on scale, and the competition for the same properties is growing. Initially, Nico said that their personalized approach was the reason for their growth and success. He personally went to the owners and regional managers to find the right fit.  Next, we talk about Nico units determining criteria. Nico and his partner took into consideration a variety of factors, and the most important were management and ownership. They had experiences where they had an owner who didn't understand the business 100%, and property managers were very skeptical, making it difficult to maintain long-lasting business relations. You need to find an owner who understands that it's more about the consistency and safety of rental units and maintaining a margin. The second factor is the quality of the property. The property needs to be in tip-top shape and well taken care of. Thirdly, Nico says that hotels and motels have a strong influence on real estate. Lastly, Nico explains the importance of clarity in rules. Before you try to do real estate at scale or individual property management, you have to understand the area's regulations. We then discuss how Nico finances their real estate properties and his business strategy.  According to Nico, they usually have a benchmark between 1.7x and 2x for the rent. They had a very organic approach towards their growth, and they would send follow-up emails to clients explaining the advantages of security, consistency, a professional manager, and strong communication to remove skepticism in any contract Their occupancy is usually 80-85% depending on the season. They scale it using their revenue management system developed by a professor from his brother's data analysis and machine learning MBA class. The revenue management system takes into account every internal and external including review, competition, and budget to produce a recommended rate. Lastly, we talk about Nico's market. According to Nico, his ideal property is a 25 unit property, with studios, one-bedroom, kitchen, in-unit laundry, no pools, and no front desk. If you're such an owner, if you put your property in their program they will take care of everything from managing the customers to managing the units and payments. This is a passive income opportunity, and you will be generating 20-30% more for short-term rent than you were generating before. Make sure you don't miss this amazing episode of the Just Start Real Estate Podcast with Nico Ortega. Tune in! Get valuable information on creative ways of financing and growing your real estate projects! Notable Quotes: “If you see a property that is damaged, not well taken care of, the management is being super lenient with the upkeep of the property. That will come back and bite you.”     Nico Ortega   “Hotels and motels have a strong influence on the real estate industry.”     Nico Ortega   “Opportunities come when you least expect them to.”   Nico Ortega   We don't shy away from opportunities. We are going to look at it what people have available and try to help in whatever way we can if it fits whatever we're looking for.”   Nico Ortega     Links: Stay NUOVO Equity funding campaign  Nico on LinkedIn Nico on Facebook Nico on Instagram Nico on Twitter Nico Email; nicostaynuovo.com/ Just Start Real Estate JSRE on Facebook Mike on Facebook Mike on Instagram Mike on LinkedIn Mike on Twitter Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months

Real Estate Rookie
Rookie Reply: 6 Short-Term Rental Tips from Tony J. Robinson

Real Estate Rookie

Play Episode Listen Later Jan 1, 2022 23:47


From time to time, Ashley and Tony both have questions they need answering. And thankfully, they both host a show with a real estate investor in complementary niches. This week, Ashley is prepping to scale her short-term rental empire, so she wants to know from Tony what his six top tips for vacation rentals would be.Although Tony has only been hosting for a few years now, he has a sizable portfolio that was built fast and efficiently. He's able to charge top dollar on his vacation rentals due to his management, rehabs, and pricing strategies. If you want to max out your vacation rental income, Tony is the guy to listen to!Here are some suggestions for Ashley:Utilize comparable data to match region-standard checkout policies, nightly pricing, and minimum stays on bookingsFind the niche that you can fill and will allow your rental to stand outDo whatever you can to ensure the guest leaves a positive review on your propertyCommunicate with guests in a systematized, timely mannerAnd more in the episode…If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).Links from the ShowReal Estate Rookie Rookie Facebook GroupReal Estate Rookie Youtube ChannelBiggerPockets Real Estate Investing BootcampAirbnbVrboRobuilt Youtube ChannelHospitableiGMSYourPorterCheck the full show notes here: https://www.biggerpockets.com/rookie144See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

CAST11 - Be curious.
Scottsdale Continues Work to Address Short-Term Rental Concerns

CAST11 - Be curious.

Play Episode Listen Later Dec 31, 2021 4:07


The Scottsdale City Council voted unanimously in favor of two proposed updates to the city's Vacation Rental ordinance and Nuisance Parties and Unlawful Gatherings ordinance at its meeting Wednesday night. The updates to both ordinances, which take effect Jan. 7, 2022, will remove loopholes, increase fines and improve the city's enforcement abilities when handling short-term vacation rental complaints. The public can review the approved updates in the City Council report. A 2016 state law restricting cities and towns from regulating vacation and short-term rental properties removed a Scottsdale law that prohibited rentals of 30 days or fewer. Since that legislation... For the written story, read here >> https://www.signalsaz.com/articles/scottsdale-continues-work-to-address-short-term-rental-concerns/CAST11  is central Arizona's podcast network covering the top news and events happening in the region (Prescott, Prescott Valley, Chino Valley and beyond).You can follow CAST11:On Buzzsprout: https://www.buzzsprout.cast11.comOn Facebook: https://www.Facebook.com/Cast11AZ

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli
What You Should Know About Short-Term Rentals with Avery Carl

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli

Play Episode Listen Later Dec 31, 2021 46:51


The vacation market is booming, and our guest, Avery Carl, will teach you how to capitalize on it while creating passive income opportunities for yourself.Avery Carl was named by Wall Street Journal as one of the Top 100 and by Newsweek as Top 500 agents in 2020. She and her team at The Term Shop focus exclusively on Vacation Rental and Short Term Rental Clients, having closed well over 1 billion dollars in real estate sales. Since 2017, Avery has sold more than $300 million in short-term/vacation leases and has a portfolio of over 100 Doors. She specializes in connecting investors with the highest ROI potential while teaching them to manage their short-term rentals remotely.In this episode, look forward to some phenomenal, new tips - from how to find the right market, how to finance and manage your rentals, to a holistic approach to finding success in short-term rentals.Avery is a trusted partner of ours in the investor community. She is an entrepreneur, a rental owner herself, and she is also the author of a very new book, BiggerPockets published, called Short-Term Rental, Long Term Wealth.So, let's set you up for long-term wealth. Jump into the conversation, and learn everything you should know about short-term rentals! Quotes• “You are able to pivot as many times as you want. So don't think because you started flipping houses that that defines your real estate career. You can change it, you can leverage, you can play in different baskets.” (4:50 - 5:06)• “You always want to start with the market because the regulations are going to be really different depending on the market you're buying in… I stick to markets where short-term rentals have been a thing for decades and decades… I call them ‘Mature Vacation Markets.'” (9:48 - 10:20)• “If anything was going to come along and wipe out all the short-term rentals and all the vacation markets, it was going to be COVID. And it actually caused a boom... Because they're accessible, they boomed, and because they're affordable they boomed.” (16:34 - 16:57)• “There ARE Value-Add opportunities in vacation markets, but they just look a little bit different.” (22:25 - 22:29)• “There are things that numbers and data can't tell you. That is what we call the ‘Enemy Method…' So you're looking at the data, but then also using the Enemy Method to go in and look at why the data says what it says” (40:38 - 41:46)• “I don't wait for something to be perfect before I take off running with it. I take off running and adjust as I go.” (43:05 - 43:10)Connect with Avery Carl:IG: @theshorttermshopFB: The Short Term ShopLinkedIn: AveryCarlTwitter: @ShortTermShopWebsite: www.theshorttermshop.com Resources Mentioned: Short-Term Rental, Long-Term WealthGuesty For Hosts AppPriceLabsAirDNARabbuMortgageShop.coThe E-Myth RevisitedSTRIVE is a one-of-a-kind membership for experienced women investors looking to make deeper connections and take their Real Estate business to the next level. It is more than a transactional membership, it is a transformational experience for women looking to live life on their own terms.Get on the Strive Membership Waiting List - https://www.therealestateinvesther.com/reserve How To Join the InvestHER Movement 1) The Real Estate InvestHER Podcast - The weekly show details the journey of some of the most amazing women real estate investors around the world, who open up their lives and share practical and strategic tools for growing a rental portfolio, flipping houses and the mindset that allows them to run a successful investing business while taking care of their families and most importantly taking care of themselves. Subscribe via:Apple Itunes SpotifyAmazon MusicAndroid Stitcher 2) The Real Estate InvestHER Membership Our Membership focuses on three pillars: Real Estate Investing, Business Strategies, and Self-Care. This is a one-of-a kind membership for experienced women who are looking to take their business to the next level while living life on their own terms. 3) InvestHER Community on Facebook We have thousand of members in our Facebook InvestHER Community (and growing!) This is a safe place for women to ask real estate investing questions and gain the support they need to achieve their goals! 4) InvestHER Meetups Around the Globe We have Investher Meetup members attending in person meetings across the country and Canada. Meetups are being held monthly by experienced InvestHER Leaders! Learn more about our InvestHER leaders, meetup locations, and how to become an InvestHER Leader HERE! 5) InvestHER™ eXp TeamOur mission is to empower women in Real Estate to live a financially free and balanced life, and we are extending our support to Real Estate agents worldwide. We have created exclusive content and support for the InvestHER™ eXp Team:*Top skills and strategies to grow YOUR business*How to utilize your “real estate agent” advantage to become a real estate investor*Monthly live masterminds*Become part of Libertas Organization with top coaches, Tim and Julie Harris. Jonna Hall Weber is leading our team. If you have any questions or are ready to join our team, click here to schedule a call with her.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Apartment Investing Journey
AIJ158: An Introduction to Short Term Rental Investing - with Ralph DiBugnara

Apartment Investing Journey

Play Episode Listen Later Dec 31, 2021 29:21


Ralph DiBugnara is a successful serial entrepreneur and real estate expert. He holds the prestigious roles of President of Home Qualified, a digital resource for buyers and sellers, and Vice President at Cardinal Financial, a nationally recognized mortgage loan company. With his expertise this led him to start a series called The Real Estate Disruptors, where he interviews guests on investing, property guidance and advice.Join Our Passive Investor NetworkDownload Our Passive Investor Guide to Multifamily SyndicationsWE DISCUSS:The mistakes that he made early on.How his mortgage company closed.How his business looks like today.The opportunities and challenges that short term rental investors have.The challenges in financing short term rentals.The steps that follow after the financing.Who should not consider doing short term rentals.Being a short term rental investor and outsource all that needs to be done.What he knows better now.His biggest challenge.His biggest win.His best advice for someone just starting.KEY QUOTE:“Sometimes you're gonna have to give up money to make sure the guest is happy..... one bad review could cost you thousands of dollars. It's worth it to give back a few hundred dollars to avoid the bad review.”CONNECT WITH OUR GUEST:Instagram: @dibugWebsite: ralphdibugnara.com/disruptors-networkCONNECT WITH US! Visit our Website: https://www.canovocapital.com/podcastConnect with us on Facebook: https://www.facebook.com/apartmentinvestingjourney/?modal=admin_todo_tourFollow us on YouTube: https://www.youtube.com/channel/UCpmNIzpEzxGn5ZuNgjAVV-w/featuredFollow us on Instagram: https://www.instagram.com/apartmentinvestingjourney/Listen on Apple Podcasts: https://podcasts.apple.com/us/podcast/apartment-investing-journey/id1464256464LOVE THE SHOW? PLEASE SUBSCRIBE, RATE, REVIEW & SHARE

Thanks For Visiting
144. Our Best Episodes of 2021

Thanks For Visiting

Play Episode Listen Later Dec 30, 2021 34:13


We've reached the end of the year! 2021 felt like we were finding our way again, but we have high hopes for 2022. As a way of looking back over how far we've come during the past 365 days, we want to run down the top 10 episodes from the year to give us a better idea of what you want to hear more of and share what you should go back and listen to if you missed it the first time around.  These are the 10 episodes that received the most traffic in 2021: 10. https://www.thanksforvisiting.me/blog/1-your-first-investments-starting-an-airbnb-101 (1. Your First Investments in Starting an Airbnb 101) 9. https://www.thanksforvisiting.me/blog/121-hiring-a-team-that-works-with-you-with-taylor-arbaugh (121. Hiring a Team That Works with You with Taylor Arbaugh) 8. https://www.thanksforvisiting.me/blog/123-our-mistakes-making-property-offers-how-to-avoid-them (123. Our Mistakes Making Property Offers and How to Avoid Them) 7. https://www.thanksforvisiting.me/blog/100-hospitality-tips-from-an-airbnb-legend-with-chip-conley (100. Hospitality Tips from an Airbnb Legend with Chip Conley) 6. https://www.thanksforvisiting.me/blog/122-going-all-in-on-short-term-rentals-with-a-frame-ranch-owner-callie-witcher (122. Going All In on Short-Term Rentals with A-Frame Ranch Owner Callie Withce) 5. https://www.thanksforvisiting.me/blog/118-the-hidden-expense-of-your-airbnb (118. Hidden Expenses of Your Airbnb) 4. https://www.thanksforvisiting.me/blog/124-buying-land-property-using-creative-financing-options-with-mike-hicks (124. Buying Land & Property Using Creative Financing Options with Mike Hicks) 3. https://www.thanksforvisiting.me/blog/117-start-boosting-your-direct-bookings-today-with-mark-simpson (117. Start Boosting your direct Bookings Today with Mark Simpson) 2. https://www.thanksforvisiting.me/blog/130-elevating-your-str-with-high-vibe-design-with-moira-sedgwick (130. Elevating Your STR with High Vibe Design with Moria Sedgwick) 1. https://www.thanksforvisiting.me/blog/99-leveraging-passive-income-for-financial-time-freedom-with-amanda-williams (99. Leveraging Passive Income for Financial & Time Freedom with Amanda Williams) To learn more, and for the complete show notes, visit: https://thanksforvisiting.me/ (thanksforvisiting.me) Resources: Visit https://www.thanksforvisiting.me/workshop (thanksforvisiting.me/workshop) to watch our Hosting Business Mastery Method workshop! #STRShareSunday: https://www.instagram.com/thepoffs/ (@thepoffs) Thanks for Visiting is a production of http://crate.media (Crate Media)

Noelle Randall Podcast
How to start an AirBnB Rental Business

Noelle Randall Podcast

Play Episode Listen Later Dec 28, 2021 9:05


Are you interested in entering the real estate world without the hassle of learning difficult things all at once? Then Airbnb might be for you! In today's episode, I'm going to tell you how to start an Airbnb business, and you don't even need to have a lot of money to do so! Stay tuned!WEBSITE: http://www.noellerandall.comTEL: 888-479-4542Listen And Enjoy!Noelle RandallSupport the show (http://www.paypal.me/noellerandall1)

Doctors Investing Group: Physicians in Real Estate
Ep 57 - Our Short-Term Rental in Charleston, Part 2

Doctors Investing Group: Physicians in Real Estate

Play Episode Listen Later Dec 27, 2021 26:32


Here is part 2 from last week's episode, where we continue to get into the details of our short-term rental in Charleston aimed at Bachelorette and Bridal Parties, and the background details of property management in general.In this episode, listen for:I discuss dealing with a less-than-desirable fire system installer, Google Nest system integration, and creating rentals with a purpose more than just quick staysMust-Listen Moments :[9:33]  - Choosing automation software[15:04] - Pricing software[21:09] - How to make your short-term rental geared for a specific purpose. More from DIG Capital:Find and listen to more episodes at https://www.digcapital.com/podcastsRead more about real estate syndications and passive investing at https://www.digcaptial.com/blogTo invest alongside other physicians: https://www.digcapital.com/joinPodcast Technical Support by: Wayfare Recording Co.

Coach Carson Real Estate & Financial Independence Podcast
#199: Short Term Rentals - How to Get BIG Cash Flow & Wealth

Coach Carson Real Estate & Financial Independence Podcast

Play Episode Listen Later Dec 27, 2021 54:50


Episode #199 - Learn the best short-term rental tips and strategies from Avery Carl, an investor with over 100 rental units who also helps other investors buy and self-manage short-term rentals. This is a hot strategy that can make big cash flow, but you've got to learn the right markets, the right properties, and how to avoid some of the common pitfalls. Avery covers that and more in this episode. BOOK: Short-Term Rentals, Long-Term Wealth - https://store.biggerpockets.com/products/short-term-rental-long-term-wealth SHOW NOTES/OTHER LINKS: https://www.coachcarson.com/short-term-rentals-how-to-get-big-cash-flow-wealth/ __________

Short Term Rental Secrets Podcast
Ep 82 - Extreme Themed Short Term Rentals with Bryndee Barton

Short Term Rental Secrets Podcast

Play Episode Listen Later Dec 27, 2021 43:37


GUEST'S BIO Bryndee Barton started her first real estate company in 2013 along with her husband, Kyle. What started as a side gig of duplexes turned into a full-time business flipping houses, creating vacation rentals, and developing larger multifamily deals. Her specialty is managing large re-construction projects remotely, as she has successfully managed and completed projects across 7 different states. Bryndee now focuses on Loma Homes vacation rental development—creating premium, extreme-themed homes for guests to get an immersive experience that leaves them with unforgettable memories. HIGHLIGHTS OF THE EPISODE 04:35 Bryndee Barton's introduction and background 05:37 How Bryndee got into real estate and the STR industry 07:25 Managing properties out of state 09:36 Bryndee's tips on how to vet out contractors 12:13 Team players and accountability 15:19 Bryndee talks about her first extreme-themed STR deal 18:21 Numbers that matter when picking a market 20:47 Rule of thumb in annual revenue 22:24 Bryndee talks about their extreme-themed vacation spaces 25:13 How Bryndee and Loma Homes works on their extreme-themed rentals 27:05 Making your property stand out on competitive markets 29:14 Horror story of a design manager 30:56 Bryndee's goal for Loma Homes 32:06 How to fund themed STRs 36:26 Tips before raising funds and investing in STRs 39:49 Acknowledgments to Bryndee 40:46 Where can people learn more about Loma Homes 41:28 Bryndee's #1 secret to success with STRs NOTABLE QUOTES "It's a lot of work and there's also times that you want to give up but it's also validating when you see the first guest come through and the joy in the children's eyes." - Bryndee Barton "It is so fun to make the world a little bit better even if it's just one house at a time." - Bryndee Barton "The more things you know, the more ways you know how to play the game." - Emanuele Pani CONNECT WITH THE GUEST Bryndee Barton: Linkedin Loma Homes: Website | Instagram CONNECT WITH THE HOSTS Michael Sjogren: Short Term Rental Secrets Facebook Group | Clubhouse | Instagram | Youtube | Facebook Page | Linkedin https://linktr.ee/the_airbnbguy Emanuele Pani: Clubhouse | Instagram | Facebook | Linkedin FREE MASTERCLASS TRAINING - https://www.strsecrets.com/masterclass

BiggerPockets Daily
438 - How to Analyze a Short-Term Rental Property by Avery Carl

BiggerPockets Daily

Play Episode Listen Later Dec 26, 2021 12:35


https://www.biggerpockets.com/blog/analyzing-short-term-rentalsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

BiggerPockets Daily
436 - Choosing the Right Short-Term Rental Market to Invest in by Avery Carl

BiggerPockets Daily

Play Episode Listen Later Dec 24, 2021 13:32


https://www.biggerpockets.com/blog/how-to-choose-the-right-market-to-invest-in-short-term-rentalsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Noelle Randall Podcast
Do Short term rentals affect property value?

Noelle Randall Podcast

Play Episode Listen Later Dec 22, 2021 8:01


Do short term rentals affect property values? In this episode, I will talk about what affects property values and what doesn't. I will also teach you some online tools to help determine property values. Let's get right into it!WEBSITE: http://www.noellerandall.comTEL: 888-479-4542Listen And Enjoy!Noelle RandallSupport the show (http://www.paypal.me/noellerandall1)

Marketplace All-in-One
In tourist communities, short-term rentals are pricing out locals

Marketplace All-in-One

Play Episode Listen Later Dec 22, 2021 26:41


When you head to an outdoorsy town or resort community to get away from it all, it can be easy to forget the people who live and work there full time, ensuring that the place runs smoothly. The tourism that many of those towns rely on can also produce housing pressures. Marketplace’s Amanda Peacher takes us to Joshua Tree, California, where short-term vacation rentals make up more than one-quarter of the housing stock. As she points out, the affordable-housing shortage is becoming more common around the Western U.S. Also: What the holiday spending habits of four families tell us about the economy, what hurdles await President Joe Biden’s plan for distributing at-home COVID tests and what 20% inflation looks like in Turkey.

Marketplace with Kai Ryssdal
In tourist communities, short-term rentals are pricing out locals

Marketplace with Kai Ryssdal

Play Episode Listen Later Dec 22, 2021 26:41


When you head to an outdoorsy town or resort community to get away from it all, it can be easy to forget the people who live and work there full time, ensuring that the place runs smoothly. The tourism that many of those towns rely on can also produce housing pressures. Marketplace’s Amanda Peacher takes us to Joshua Tree, California, where short-term vacation rentals make up more than one-quarter of the housing stock. As she points out, the affordable-housing shortage is becoming more common around the Western U.S. Also: What the holiday spending habits of four families tell us about the economy, what hurdles await President Joe Biden’s plan for distributing at-home COVID tests and what 20% inflation looks like in Turkey.

Money Matters with Wes Moss
Short-term Rental Properties and Happy Retirements with Brynne Simms

Money Matters with Wes Moss

Play Episode Listen Later Dec 20, 2021 31:19


In this podcast episode, Brynne Simms shares how to set expectations to seek and manage rental properties during retirement, along with sharing her journey to owning and managing her own rental property. She also provides examples of how retirees can utilize their finances to find happiness in retirement and describes traits and core pursuits that she sees within the happiest retirees. Brynne also discusses her role as a Client Service Manager at Capital Investment Advisors and talks through what a happy retiree's future can look like. Learn more about your ad choices. Visit megaphone.fm/adchoices

Doctors Investing Group: Physicians in Real Estate
Ep 56 - Our Short-Term Rental in Charleston, Part 1

Doctors Investing Group: Physicians in Real Estate

Play Episode Listen Later Dec 20, 2021 23:48


In this week's episode, we begin part one of a two part series on our short-term rental in Charleston, South Carolina. You'll get to hear directly from me as I get into specific numbers of the purchased rental property, and also the kind of equipment and tools we use to help make the rental process as seamless as possible for everyone involved. In this episode, listen for:I get into working with local banks over national branches for financing purchases WITH renovations included and choosing a budget to stick to.Must-Listen Moments :[3:13] - Details on the short-term rental building in Charleston[10:35] - Navigating how to coax stubborn tenants out of their current leases[18:04] - Analyzing the numbersMore from DIG Capital:Find and listen to more episodes at https://www.digcapital.com/podcastsRead more about real estate syndications and passive investing at https://www.digcaptial.com/blogTo invest alongside other physicians: https://www.digcapital.com/joinPodcast Technical Support by: Wayfare Recording Co.

BiggerPockets Daily
431 - It's Not Too Late to Join the Short-Term Rental Investing Game by Dave Meyer

BiggerPockets Daily

Play Episode Listen Later Dec 19, 2021 7:26


https://www.biggerpockets.com/blog/short-term-rental-market-watchSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cash Flow Guys Podcast
top 10 Mistakes Made When Investing in Short Term Rentals

Cash Flow Guys Podcast

Play Episode Listen Later Dec 17, 2021 25:37


In this episode, I discuss the Top 10 Expensive Mistakes made when getting into vacation rentals.  If you don't make these mistakes, you'll have a great chance of doing well as a short-term rental operator.  If you repeat one or more of these mistakes, it can wipe you right out of the industry.  Listen in to learn more.

Investor Financing Podcast
Interest-Only Loans For Short Term Rental Properties

Investor Financing Podcast

Play Episode Listen Later Dec 16, 2021 4:21


Noelle Randall Podcast
How to run an AirBnB remotely

Noelle Randall Podcast

Play Episode Listen Later Dec 15, 2021 9:00


Running businesses remotely are the cool thing now! Since the COVID-19 situation worsened, how can we make sure that we business owners and our customers are safe? Stay tuned in today's episode on how to run an Airbnb business remotely!WEBSITE: http://www.noellerandall.comTEL: 888-479-4542Listen And Enjoy!Noelle RandallSupport the show (http://www.paypal.me/noellerandall1)

Kasper and Chris
Tornados, Vaccine boosters, and Short term rentals

Kasper and Chris

Play Episode Listen Later Dec 14, 2021 107:42


Rick Worthington joins Mike Kasper to discuss the tragic destruction in the wake of midwestern tornados. They also talk about getting vaccine booster shots and a Boise council meeting about short term rentals.

Peace Of Mind
Kickin' it with Khadijah Lashaun, CEO of Khadijah Lashaun LLC

Peace Of Mind

Play Episode Listen Later Dec 12, 2021 117:05


Khadijah Lashaun LLC (also known as Your Black Guidance Counselor) was founded by Khadijah Lashaun to connect minority groups like women of color to the resources they need. My resources are provided through the following programs under my LLC, including: 1. The Safe Haven, a Short Term Rental housing program under Khadijah Lashaun LLC. This LGBT+ Safe Place & home of Khadijah Lashaun, provides Life Coaching and affordable STR housing in Baltimore MD. This Life Coaching can also be received by non-residents through social media mediums (@yourblackguidancecounselor on Instagram & YouTube). Coaching includes direct calls & youtube videos lending guidance on relationship advice, career coaching and occupational prep, along with other financial literacy and first-time homeownership advice. Like my Listing here -> https://abnb.me/hdiQ5pEbOlb 2. @YourBlackGuidanceCounselor is a Instagram & YouTube Community of women of color seeking content that displays minorities in a positive light including categories like #BlackGirlMagic, #BlackExcellence, #BlackEducation, & more. The goal of this Community is to foster a better image of people of color achieving their dreams and encouraging each other on their paths to wellness & wholeness. Connect with me on Instagram -> https://instagram.com/yourblackguidancecounselor?utm_medium=copy_link Connect with me on YouTube -> https://youtu.be/Ysc6lL1jYWs 3. The Black Creator Podcast is a segment on my YouTube channel (Your Black Guidance Counselor) intended solely to provide guidance from fellow Black Creators, Business Owners, & Entrepreneurs on how to achieve wellness in all four pillars of life, health, wealth, love, & faith. Listen to my Podcast here -> https://anchor.fm/theblackcreatorpodcast Each of these programs all fall in line with my ultimate goal to connect people to the resources they need, be that short term housing, life coaching, or education. My goal remains the same, to connect those that need it, to the resources that they need. --- Send in a voice message: https://anchor.fm/thesoulkoach/message

Rent Perfect with David Pickron
Ep. 53 You Won't Believe How Much $$$ a Short-Term Rental Can Generate

Rent Perfect with David Pickron

Play Episode Listen Later Dec 10, 2021 12:34


Landlords everywhere have been converting their long-term rentals into short-term rentals because the returns are so amazing.  Join Rent Perfect President David Pickron to learn why, how, and when you might consider getting into the short-term renal game.

BiggerPockets Money Podcast
256: Finance Friday: Financial Independence in 5 Years w/ Short-Term Rentals

BiggerPockets Money Podcast

Play Episode Listen Later Dec 10, 2021 64:42


There are many ways to fund your nest egg. You could outright save, or you could invest in index funds, rental properties, or short-term rentals like today's guest, Charlotte from Charlotte. Working as a teacher in one of the lowest-paid states in the US, Charlotte was able to fully replace her teacher's salary by operating a single short-term rental cabin in Western North Carolina.When she discovered the FIRE Movement only a year ago, she knew that intelligent investments like this could fund the globetrotting adventures she and her husband had plans for. But, with her husband four years away from securing his government pension, Charlotte wants to be absolutely sure that her short-term rentals will be pulling the fiscal weight of word travel when he steps away from his job.Charlotte may be a rookie in the terms of real estate investing, but she's far from it when it comes to taking actionable steps to ensure phenomenal returns. She'll be hitting a 100% cash-on-cash return with her newest rental addition! If you have dreams of early retirement through real estate, follow Charlotte's lead by planning, executing, and financing to FI!In This Episode We CoverThe phenomenal returns of short-term rentals and why now may be the best time to investHow to plan for retirement with a pension or predictable income stream Investing in index funds vs. real estate when trying to hit FIVacation home, second home, and portfolio loans for your next short-term rentalWhy the high price of STR property management may be worth the peace of mindAnd So Much More!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

How to Scale Commercial Real Estate
How To Incur Tax Savings Through Short-Term Rentals With Ryan Bakke

How to Scale Commercial Real Estate

Play Episode Listen Later Dec 8, 2021 20:02


Earning more income usually means paying more taxes. But, with the right tax strategy you can earn more and pay less. How? Ryan Bakke is here to share how you can get some of these tax savings by investing in short-term rentals. Ryan is a real estate CPA and investor helping REIs boost their ROI using the tax code. In this episode, he joins Sam Wilson to divulge the secret to keeping more of your hard-earned money while making more money through investing in this type of real estate. Learn all about how you can pay less in taxes as you earn more by tuning in to this episode!Love the show? Subscribe, rate, review & share! https://www.brickeninvestmentgroup.com/podcast

The Big Break Show
#2 It's all about Short Term Rentals, The know how and what's coming in 2022

The Big Break Show

Play Episode Listen Later Dec 8, 2021 38:25


In this video we explain short term rentals and how we utilize this amazing strategy to quit our nine to five. Join us as we dive into the types of short term rental strategies and how you can use them to start your investing journey.

Noelle Randall Podcast
Where to look for short term Rental

Noelle Randall Podcast

Play Episode Listen Later Dec 7, 2021 7:42


This is a very good question that I got from my viewers, "where is the best place to look for short term rentals?".  I will teach you where to find short-term rentals, how to make a ton of money doing it without even owning a lot of properties. Stay with me until the end because this is a game changer!WEBSITE: http://www.noellerandall.comTel:  888-479-4542Listen And Enjoy!Noelle RandallSupport the show (http://www.paypal.me/noellerandall1)

Noelle Randall Podcast
How to start a Business like Airbnb

Noelle Randall Podcast

Play Episode Listen Later Dec 6, 2021 8:27


Airbnb is one of the biggest short-term rental property platforms right now. You can be a part of this with just a few steps! But first, let's discuss what it takes to start a business like Airbnb, and I'll also let you in on a quick and easy tip that will help you start your journey as an entrepreneur. Stay tuned!WEBSITE: http://www.noellerandall.comTel:  888-479-4542Listen And Enjoy!Noelle RandallSupport the show (http://www.paypal.me/noellerandall1)

The Nuts & Bolts of Real Estate Investing
Short Term Rental Deep Dive with Avery Carl

The Nuts & Bolts of Real Estate Investing

Play Episode Listen Later Dec 3, 2021 58:49


In this short term rental deep dive with Avery Carl she reveals major nuggets like… Where you should be buying your short term rentals, and why. The software that makes self managing easily done from your phone. And how to estimate income before you buy. If you are interested in taking advantage of all the upside of short term rental… you need to check this out!

Slices of Wenatchee
Not all short term rental operators get grandfathered into new regulations; 10 COVID-19 deaths in Chelan and Douglas last month

Slices of Wenatchee

Play Episode Listen Later Dec 2, 2021 5:52


Short-term rental operators have until New Year's Eve to apply and have their units grandfathered into Chelan County's new regulations. The application period opened in late September and after about two months the county has about 215 applications processed. But officials think there are more than 1,000 existing rentals. Support the show: https://www.wenatcheeworld.com/site/forms/subscription_services/ See omnystudio.com/listener for privacy information.

Vacation Rental Success
VRS418 – 10 Winter Projects for a Short Term Rental Property Manager

Vacation Rental Success

Play Episode Listen Later Dec 1, 2021 40:21


This episode is sponsored by the Virtual Vendor Showcase. You can discover more about the Virtual Vendor Showcase here: https://vacationrentalformula.com/vvs Listening to this podcast on the move? Get to the show notes here: https://www.vacationrentalformula.com/VRS418 Want to get access to some of our best tools? Get The Toolbox >> https://www.vacationrentalformula.com/toolbox

The Big Break Show
#1 Host Intros and Why We Started This Show

The Big Break Show

Play Episode Listen Later Dec 1, 2021 33:44


Rafa Loza and Jesse Vasquez are full time Entrepreneurs, Real Estate and Short Term Rental aka airbnb investors. In this episode, they introduce themselves to the listeners, go over their why, the reason for starting the show and what they have in store for future episodes. Join them on their journey as they strive to grow to be better Entrepreneurs, Investors and humans over all.

Black Real Estate Dialogue
Episode 97: How to Build a Short-Term Rental Business

Black Real Estate Dialogue

Play Episode Listen Later Nov 30, 2021 47:39


Don't forget to subscribe, leave us a rating and review! I'm shouting out all 5 star reviews on the show.This episode with Jimmy Woodard was inspiring! Jimmy thought that he wanted to go to law school and soon after enrolling, he realized it wasn't what he wanted to do and left. After working in the tech industry, Jimmy connected with a friend from college and together they created Cloud Castles.Cloud Castles is a platform that helps people build their wealth through snackable shares of short-term rentals. The company manages the rentals and does the legwork, so that investors can be passive and receive monthly payouts.The company started investing in 2020 in the midst of bidding wars that were taking place nationwide. Their first property was purchased in Lake Tahoe and their most recent property was purchased in Miami. They also built an app that investors can use to directly invest in the properties. In this episode we discuss finding the right market for short-term rentals, running a startup, finding investors and more. How to find themIG Pages @cloudcastles.ioDownload Cloud Castles on  the Apple App Store- https://cloudcastles.onelink.me/GiaO/bredHighlights 1) If you want to own a short-term rental, make sure that you know the laws of the city you want to invest in. Make sure it's allowed in the city you invest in.2) Make sure you know the neighbors around your short-term rental. They will make sure the property is taken care of and will let you know if something goes wrong. 3) If you're in a partnership, make sure you lean into your strengths. This will help the business run efficiently. Access all of our resources on our website- https://www.blackrealestatedialogue.com/linksJoin the B.R.E.D. Real Estate Investing Community for $1- https://www.outofstatemoney.com/community-sales-page-1Learn how to invest out of state- https://www.outofstatemoney.com/

Get Paid For Your Pad | Airbnb Hosting | Vacation Rentals | Apartment Sharing

Just two months ago, Eric and I bought an existing vacation rental business in Idyllwild, California, with the intention of renovating the existing units and building 10 to 15 new cabins on the property. This acquisition is our first step in building a hospitality brand known as Freewyld, a world-class short-term rental operation focused on secondary markets near large metropolitan areas. Places for city dwellers to get away and reconnect with nature.On this episode of Get Paid for Your Pad, Eric and I sit down to describe how the Freewyld project is going, explaining how we've upgraded the marketing for our new listings and why we're booking exclusively on Airbnb right now.We share the challenges we're facing on the development side of the project and discuss how we're shifting our focus in light of a changing construction timeline.Listen in for insight on doing a scenario analysis before you take over a short-term rental business and find out how we got Strawberry Creek up and running in just eight weeks—and increased its revenue by 20%.Topics Covered What surprised us about our guest avatarMany new to using Airbnb platformMuch younger than expectedWhy we're booking exclusively on AirbnbLeverage reputation as hosts to book new listingsBuild catalog of 10-plus reviews for each unit Why ‘the barn' is struggling to get bookingsLeast attractive property of 4 units availableNeeds redesign to update experienceHow we've upgraded the marketing for our new listings Reduce number of photos (must ALL bring value)Tell story of experience through picturesThe challenges we're facing on the development sideBackup in county permitting officeAdditional 6 to 12 months to get approvalHow we're pivoting in light of a changing timelineFocus on buying more existing STR communitiesEnlist help of project manager to find leadsThe benefit of doing a scenario analysis before you buyRun numbers for worst-case scenarioEnsure investors will still get returnOur top wins since taking over Strawberry CreekBusiness up and running in under 2 monthsIncrease revenue by 20% without renovationsResources The Future of Short-Term Rentals on GPFYP EP404Strawberry Creek VillageOvernight Success Legends X Short-Term Rental AcceleratorSTR Legends Mastermind Review GPFYP on Apple Podcasts Subscribe to the GPFYP NewsletterEmail jasper@getpaidforyourpad.com Sponsor Hostfully [Discount Code PAD] See acast.com/privacy for privacy and opt-out information.

Investing In Real Estate With Lex Levinrad
The Opportunity in Short Term Rentals and Airbnb

Investing In Real Estate With Lex Levinrad

Play Episode Listen Later Nov 22, 2021 14:26


On today's podcast episode I talk about the opportunity in short term rentals and Airbnb. Over the past 2 years, some of my students have transitioned from rental properties and section 8 rentals to Airbnb. And the opportunity in short term rentals is something that you need to pay very close attention to. As an example, my student Andy had a Section 8 Rental Property in Miami that was generating around $2,200 per month. When the tenant moved out, he decided to turn the rental property into a short term Airbnb rental. That same property now generates north of $8,000 per month. Over the past 12 months he has been converting all of his rental properties to Airbnb. He is only 32 years old and he is already financially free. My student Davidson purchased a property on the West Coast of Florida in Lehigh Acres that he was originally intending on fixing and flipping. I encouraged him to explore the opportunity of keeping it as a short term rental. His listing just went live yesterday and in the first 24 hours he had 17 days in December booked, as well as this weekend and next week booked too. His booking revenue is already at 3 times what that same house would rent for. Another student of mine Kadi with her brother Dale are now working on their 3rd Airbnb property in Palm Bay, Florida. When we showed the examples of these students at our most recent Fixing and Flipping Houses Boot Camp everyone in the room wanted to get into an Airbnb! If you are a real estate investor, you should consider investing in this short term rental space. If your financial freedom number is $20,000 per month, and one Airbnb generates $5,000 per month, then you would need just 4 Airbnb's to be Financially Free! There are many advantages of Airbnb to a regular rental property including: 1. cash flow of up to 3 times as much (or more) 2. Your property is not being trashed by tenants 3. Utility of being able to use the property yourself with your out of town guests 4. Your Airbnb could be your "retirement" 5. Financial Freedom sooner We are converting more and more of our students to Airbnb. You should definitely explore this opportunity. The buy side when you purchase the property looks the same. You are buying a wholesale deal at a wholesale price. But once you have purchased the property, you could choose to keep it as a rental, fix and flip it - or keep it as a short term Airbnb rental. If your property is located in a decent middle class neighborhood you should definitely explore the Airbnb option. If you are brand new to real estate and want to learn more about investing in real estate, buying rental properties, wholesaling real estate and fixing and flipping houses then please register using the free webinar training links below: FREE WHOLESALING TRAINING https://www.lexlevinrad.com/webinar FREE FIXING AND FLIPPING TRAINING If you want to learn how to fix and flip houses, I have a free fixing and flipping houses training webinar at this link: https://www.lexlevinrad.com/fixandflipwebinar DON'T FORGET TO SUBSCRIBE TO THIS PODCAST TO BE NOTIFIED OF UPDATES SUBSCRIBE TO MY YOUTUBE CHANNEL http://www.youtube.com/lexlevinrad?sub_confirmation=1 CONNECT WITH ME ONLINE http://www.lexlevinrad.com http://www.facebook.com/lexlevinradrealestate http://www.twitter.com/lexlevinrad http://www.instagram.com/lexlevinrad http://www.linkedin.com/in/lexlevinrad http://www.pinterest.com/lexlevinrad http://tiktok.com/@lexlevinrad/ DOWNLOAD A FREE COPY OF MY BOOK ON WHOLESALING BANK OWNED PROPERTIES For more real estate tips about property investment, investing in real estate, and how to start wholesaling, download a FREE copy of my best-selling book "Wholesaling Bank Owned Properties" at https://www.lexlevinrad.com

The Active Duty Passive Income Podcast
ADPI_221: TDY Hacking to Get Started in Short Term Rentals With Kaitlyn Dannhardt

The Active Duty Passive Income Podcast

Play Episode Listen Later Nov 22, 2021 54:58


On this week's episode, Kevin interviews military spouse and top AirBnB host, Kaitlyn Dannhardt. Kaitlyn talks about working together to build a team and building her real estate portfolio while on TDY or PCSing. Listen up to hear about how Kaitlyn and her husband continue to find success in short term rentals and how you can get started – and how you can even do it from afar!"I wanna give people that permission to try it out; get your feet wet; have a trial run. You don't have to be perfect – you're not going to be. Accept that and accept that it's a learning experience and then have fun!"-Kaitlyn DannhardtHere are 5 Key Takeaways from this episode:Pivoting When Things Don't Work Out As PlannedWhat Makes a Competitive AirBnB Home?Kaitlyn's AirBnB Deal BreakdownTax Incentives of AirBnBsAirBnB Systems to Facilitate SuccessHonorable Mentions & Useful LinksThe Disciplined Pursuit of LessConnect with KaitlynEmailReady to take the next steps in your Military Real Estate Investing journey? Watch our Masterclass and claim your EPIC reward for action. Tap here to register today!Are you looking for a loan for your next project? Look no further! Check out ADPI Financial Services for all of your residential and commercial lending needs!No Time...No Worries! Get all the info you need now by texting DEAL to 33777Get your 13-Week Action Journal using this special offer just for our faithful podcast listeners! Helpful ResourcesConnect with the ADPI: Facebook |  Instagram | YouTubeReady to TAKE ACTION and begin building your cash-flowing real estate empire? Don't go it alone! Check out our exclusive education and coaching products designed for self-starters like the Military Real Estate Investing Academy Thinking bigger? ADPI's exclusive Military Multifamily Academy and Mastermind Waitlist is open now! Sign up to reserve your slot in the most comprehensive, affordable, and educational multifamily real estate course on the web! Please Subscribe, Rate, & Review on Apple PodcastsThanks for tuning in to this week's episode of the Active Duty Passive Income Podcast! If the information shared in these weekly interviews has inspired you to pursue your dreams of financial independence, please do me a personal favor and head over to Apple Podcasts, subscribe to our show, and leave us a 5-star review.Support the show (https://www.patreon.com/adpi)

Rich State of Mind
Episode 72: Making Over $100k With Short Term Rentals ft. Rachel Gainsbrugh

Rich State of Mind

Play Episode Listen Later Nov 22, 2021 61:42


Rachel  came from 500K in student loan debt struggling, working multiple jobs, burnt out and trying to make ends meet. Fast-forward to ten years later, she became am a short-term rental investor and host. She self-manages her properties through automation, manage contractors, etc.  Rachel has owned and managed 4 luxury rentals and several others - with a cash flowing rental portfolio grossing over 6 figures a year. In addition, she juggles the responsibilities of being a wife, raising 2 boys, manage a full-time job, and self-manages her own rentals by utilizing systems she's have implemented over the years. Rachel's links:Website: https://www.shorttermgems.com/LinkedIn: https://www.linkedin.com/in/dr-rachel-g-4bb33721/Facebook Group: https://www.facebook.com/groups/422973842093365Instagram: https://www.instagram.com/short.term.gems/email: rachel@shorttermgems.comRich State of Mind Links: Website: www.richstateofmind.comInstagram : @rich_statebrand and @rich_invests_Podcast links: https://linktr.ee/anthanerichiePlease like and subscribe to our channel.See our cool wealth building and real estate T-shirt designs in the links below :Rich State of Mind Store : https://bit.ly/RichStateSupport the show (https://www.patreon.com/richstateofmind)

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli
From an $8 a Week Food Budget to Becoming a Millionaire with Sandhya Seshadri

The Real Estate InvestHER Show with Elizabeth Faircloth and Andresa Guidelli

Play Episode Listen Later Nov 19, 2021 46:20


Sandhya Seshadri is an absolute powerhouse in the multifamily space, but it didn't get like that overnight. Sandhya's started with only having $8 a week for food to her name. Three years later, she began generating millions in multifamily investments!Sandhya's strengths lie in acquiring cash flow positive and value-add multifamily assets in low crime neighborhoods. She increases property value, improves communities, and maximizes ROI for her investors by focusing on value-add in Dallas, Fort Worth, and specific Texas markets.She has unique experience as a general partner in all aspects of multifamily, from broker relationships, underwriting, analysis, and raising capital to asset management and closing syndication deals. On the LP side, she is currently involved with 20 multifamily properties totalling 3500+ doors with $1.4M+ invested.You'll discover that Sandhya has so much wisdom in all aspects of commercial real estate, and you're going to come away with a lot of golden nuggets from this episode. So jump in and check out Sandhya's incredible story and the strategy that took her from an $8 a week food budget to becoming a millionaire! Quotes• “The biggest tip I would give people to find their first deal is to say: how you get experienced partners to join you is by figuring out how you can add value to them.” (7:49 - 8:00)• “Our passive investors are getting a 3.18x return in 26 months. So in other words, $100,000 is becoming $318,000 with this closing. It's just insane how well this property has done through COVID. And the reason is the community activity.” (21:38 - 21:55)• “As an immigrant, I came here with two suitcases and an $8 a week food budget, and I got a scholarship to attend school, which is why I was able to afford living here.” (25:52 - 26:01)• “ So in terms of the starting from rags to riches kind of concept, I think the mindset is the most important thing. And if you have the determination, there will always be a way and there will always be mentors along the way who will help you get there.” (28:20 - 28:33)• “So what is it that people come to you for? Figure that out very quickly and from there go in and say, ‘how can I apply this to my real estate world?'” (29:47 - 29:56)• “Wherever you are, don't say that that's the only place for you to stay. You can do a lot more. (37:37 - 37:42)Connect with Sandhya Seshadri:IG: @sandhya_multifamilyFB: https://www.facebook.com/sandhya.seshadri.9 LinkedIn: https://www.linkedin.com/in/multifamily4you/ Guest Website: multifamily4you.com Sandhya's book recommendation:Atomic Habits by James Clear The Real Estate InvestHER Membership Our Membership focuses on three pillars: Real Estate Investing, Business Strategies, and Self-Care. We provide a financial freedom road map for women to create steady recurring income to live life on their own terms. Start today with our FREE membership level.During the next month (while the rest of the world is gearing up for the holidays) remember to step up your deal finding activity! One way to do this is to work with the right real estate agents who are focused on your NICHE! If you are interested in buying a vacation rental, you need to check out the Short Term Shop. They have a team of agents that will help you find the perfect vacation rental in the perfect market. And Avery Carl, a real estate investor and the founder and CEO of The Short Term Shop, has just written a book published by BiggerPockets called Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties! Learn more about Avery and her team here - https://www.theshorttermshop.com.Your Voice Matters. We appreciate your feedback and would like to hear from you. Click here to answer a few questions about our podcast.Follow us on: Facebook: @therealestateinvesther Instagram: @therealestateinvestherYouTube: Watch our shows hereSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Remote Real Estate Investor
How Avery Carl builds long term wealth through short term rentals

The Remote Real Estate Investor

Play Episode Listen Later Nov 12, 2021 28:27


Avery Carl is a seasoned real estate investor and a co-founder of The Short Term Shop. Avery specializes in connecting investors with short term rentals with the highest ROI potential and then training them to manage their short term rental from their smart phone from anywhere in the world. In this episode, Avery tells us about short-term rental strategy, hot markets, returns, and what you should know about short-term rentals in contrast to long-term rentals.     https://theshorttermshop.com/  --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Michael: What's up everyone? Welcome to another episode of The Remote Real Estate Investor. I'm Michael Albaum and today I'm joined by Avery Carl, distinguished author, speaker, investor, agent, mortgage broker, she does it all and she's going to be talking to us today about things you need to be aware of when looking for short term rentals. So let's get right into it.   Avery Carl, thank you so much for taking the time to hang out with me today. I really appreciate you coming on.   Avery: Thank you so much for having me.   Michael: No my pleasure. So I think a lot of our listeners probably already know who you are. You've got quite a bit of notoriety behind you. But for anyone who's not familiar, can you give us a 32nd elevator speech on who you are, where you're come from and what it is you're doing real estate?   Avery: Yes, yes. So my name is Avery Carl, I am the author of Short Term Rental Long Term Wealth of about investing in short term rental properties. I'm a real estate investor, I own 100 doors, but eight of them are short term rentals. And I was able to scale from zero to 100 doors over the course of about five years with a starting salary of $37,000 a year. Because I invested mostly in short terms at the beginning of my portfolio. So since those cash flows so much heavier than long term, I was able to scale much more quickly than if I'd started with traditional long terms.   I also own the Short Term Shop, which is a real estate agency that focuses exclusively on working with short term rental investors where not only do we act as the real estate agents to help them purchase their property. We also teach them everything they need to know about managing their property remotely. We help them get it all set up on the the listing sites and teach them the ropes of remote self management. We've helped about 4500 families, build some generational wealth through real estate investing there. And then I also, own co own The Mortgage Shop, which is basically the mortgage counterpart of the short term shop, we focus mostly on short term rental investors there as well.   Michael: Oh, that's awesome. So you were doing short term rentals before it was cool. It sounds like   Avery: Yeah, oh, just slightly before. Michael: That's awesome. And so what is it, you think that people need to know if they're just getting started in the short term rental business?   Avery: So I think the main thing to know is that it's you don't have to live in the city or even drivable to the city where you're investing, you can't always live in the best place to invest. So getting comfortable with long distance real estate investing, can make sure that you are able to make the most lucrative investment in short term rentals.   Michael: That makes total sense. And what a place to have you on The Remote Real Estate Investor. It's perfect. So how do you evaluate what a short term rental market looks like? Because doing the long term thing, I think is relatively easy. I can go on Zillow, I can go on property manager websites and see okay, what is the rent, the monthly rent versus what are my expenses ballpark? And what is the price? So what is it that you're looking for in a short term rental?   Avery: I'll start by saying there's not necessarily a black and white right or wrong way to do it. There's a certain way that I do it. But there are three types of markets that you can invest in short term rentals. The first one is the Metro market. So like Nashville, Austin, New York, places like that. The second is the big fly-to I call it fly-to vacation rental markets. So these are, these are the markets that people are like saving up all year to take a big vacation to like flying to Aspen flying to Hawaii, places like that.   Michael: Okay. Avery: And then the third type, which is the type that I focus on exclusively with myself and my clients, is the regional drivable vacation rental market. So these are areas that the majority of people that travel to them are traveling between five and eight hours by car like the Smoky Mountains in Tennessee, Panama City Beach, Florida, Big Bear in California, places like that, where people aren't necessarily taking these big, expensive vacations, they're really affordable, and they're really accessible. So that's the type of market that I focus on.   Michael: That makes sense. And I actually just bought my first vacation rental out in the Smokies. And I'm very excited to hear all the all the big news about it.   Avery: Awesome.   Michael: Yeah. So curious to know when I think one of the biggest hurdles or biggest risks that people see with short term rentals is changing jurisdictions, or jurisdictions changing their laws or ordinances. And so what's something that people can do to combat that or to be ahead of that curve when when looking at short term rental markets?   Avery: So choosing the market is really going to be your biggest the biggest thing to get through in terms of getting past that. So I used to have an office in Nashville where we sold short term rentals, I shut it down because Nashville is really really volatile in terms of short term rental regulations. So that's why I focus on the regional drivable vacation rental markets because they're typically areas like take the Smokies, for example. People have been coming to this monkey since the 60s and 70s and staying in cabins rather than hotels. Also, Destin, Florida where I live right now, I'm there where I'm actually reading a really nerdy book about the history of this area.   MIchael: Awesome.   Avery: And there were actually vacation rentals that people rented here in the 20s before they actually even had electricity out here. So these are areas I focus on areas that short term rentals are not a new thing. As of the inception, inception of Airbnb focused on areas that people have been staying in condos, beach houses, cabins in the mountains since well before Airbnb existed. So you run into the problems with the changing of jurisdictions and things like that. It mostly in Metro markets, it does happen in vacation markets as well. But it's mostly Metro markets or areas where people have historically stayed in hotels like Nashville, for example. There were not short term rentals or were not vacation rentals until Airbnb came along. Everybody who came to Nashville up until mid 2000 stayed in hotels, there's also a lot of primary residents because there's a lot of industry outside of tourism in Nashville. So there's a lot of jobs, there's a lot of primary residence.   So the, when, Airbnb came along, and investors started realizing how much money they can make in Metro markets. You know, obviously, a lot of investors moved in, started taking market share away from the hotels started making primary homeowners angry because they're moving into what was previously a quiet neighborhood where people are trying to raise their kids opening up Airbnbs, Nashville is like, you know, the bachelorette party capital of the world, you can see why you might not want that happening next door to where you're trying to raise your kids.   So it's the hotel presence and primary owners, primary residents that kind of come together to make anti short term rental regulations happen so that we stick to those markets where the cities and counties figured this out a long time ago figured out how to monetize it a long time ago. This is the way that it's always been. And the cities and counties are just way too dependent on the income from short term rentals financially to ever really regulate against them.   Michael: That makes so much sense. I love it. So, so something that I like a personal take that I've had on short term rentals is I've always said, Well, I'll invest in a short term rental if it also makes sense as a long term rental because I'm scared of the ordinance or law changing, but it sounds like for you because you've really done your homework. That's not a concern that you have. Is that fair to say?   Avery: Yeah, yeah. So and that's kind of, you know, a pro and a con of vacation markets versus Metro markets as Metro markets, you could convert to a long term, probably if the numbers make sense. But in like in the Smokies or in Destin, or any of our other markets that we that we operate in, there are more short term rentals. And there are people who actually live in those areas, because it's so heavily dependent on tourism, that if something came along and like wiped out all the short term rentals, you probably would not be able to convert to a long term just because there there's not enough people to meet that.   But again, that's these areas have been through decades and decades of economic ups and downs. So they're still tourists coming and they're coming heavy. So, you know, we, we feel pretty confident about it. And then if there was anything that was going to come along and sweep away all the short term rentals, it would have been a global pandemic. And it actually had the opposite effect. So I think we're pretty good. We're feeling pretty good about it.   Michael: Awesome. And you took the words right out of my mouth, I was gonna ask how was it for you? Because you've been involved in this over five years. So through through the pandemic, what did you see in your short term rentals during that time?   Avery: Sure. So short term rentals still, as of 2020, being a little bit of an of a new asset class, when COVID came along. And we had at the time that we had five short term rentals and maybe like 20 or 30 long terms, when COVID happened, we thought, Oh, crap, they're the short term. They're the apartment building investors were right. This is like an early adopter crowd. Right? Great. Well, at least we have our long terms because if somehow if this kills the short terms, we at least have long term. Well, actually, it was the opposite.   So you know, we sat on the couch and watch Tiger King for two weeks and open back then the doors got blown off. We we were getting higher prices per night than we've ever seen. We still are. All of our income has increased in all the markets we invest in across the board, but actually the opposite of what we thought was gonna happen. happen, so we didn't have to worry about the short terms. They're doing great better than they ever have. But we had to worry about our long terms because of the eviction moratorium. So, luckily, we only had one eviction and that person was a problem well before COVID. So we actually came out our entire portfolio came out just fine. Really no change on the long term front, but the short term is just skyrocketed.   Michael: I'm glad to hear it. I had a similar experience with the long terms and I was so thankful for it. So NACA continues. So Avery I'm curious and let me know if it's market dependent. And we can talk kind of market specifics, but I'm curious to know what type of property condo townhome apartment single family cabin do you target for your short term rentals?   Avery: I personally do only single families. Condos work really, really well in beach markets. Nothing wrong with condos. I just prefer single families. Condos don't work so well. In mountain markets. Typically, the tourists and mountain markets are more interested in staying in cabins. I don't I know a lot of people are kind of trying to get into the multifamily short term rental thing to me that's like, that's a hotel guys that's been already done. Like they're like, Oh, we're gonna do multifamily short term rentals. Nobody's ever done this before.   Michael: I'm a genius. Yeah.   Avery: So we stick to this to single families, we have Multis for it in our long term portfolio that we stick to single families mostly.   Michael: Okay, awesome. And so here's like a massive dichotomy between the long term in the short term market, in the long term, there's a price point for single family, which that's not going to cash flow, because you're rents just not going to keep up versus your long, you seem your short term. Does that occur? I mean, is there a spread at which Yeah, I'm just paying too much money for the purchase, that the rental income is not going to support it? Or does that not exist?   Avery: Yeah, sure, there's definitely a limit. But the thing about short terms is like it's, they're more difficult to analyze, because it's always a range of what a property will be able to do. Whereas in long term, it's like, this is the rent, this is going to be the rent all year. And unless you go in and get the property and do all this updates, that's what it's going to be we're short term, that's always kind of a range, because you know, a week, in the second week of February, you're gonna be making way less money than the second week of July. So it just kind of depends.   And then also, there's a range of the income that can make really just based on how you manage the property. So I mean, for example, even if two people own the exact same property right next door to each other long term rentals, they're making the same no matter what short term, even if they manage everything exactly the same. But one person has a two night minimum night stay, and the other person has a five night minimum night stay, the two night minimum night stay person is gonna make more money because they have less poles in their calendar that 1-2-3 and four days long. So even just little tweaks like that can make a difference. Although there there does come a point that like a two bedroom, the most a two bedroom is ever going to make is here. And if the purchase price is here, then it doesn't make sense. So you just have to get a lot of different data points for your analysis.   Michael: Yeah, makes total sense. And so to that end, how do you recommend folks evaluate the properties of potential income from an expense perspective? Because that's something I've seen is massively different than your long term as well. So what do you recommend to folks?   Avery: So I recommend there's a there's several different places you can get data for what for the short term rental performance air DNA is one of them, it's not perfect, it's decent, good enough. Rabbu is another one, Rabbu has some pretty good data. Price Labs, which is actually a pricing manager that you would buy, when you buy a short term rental, you get a subscription to this to help you price your property, it has a function called the market dashboards, which will give you a pretty good data on properties in that market. So I recommend getting data from two or three different sources.   And then as far as expenses and things like that. So in conjunction with looking at the number, numerical data, and the short term shop we read, we preach something called the enemy method, which is where you go in on Airbnb and VRBO. Zoom in on the neighborhood that you're interested in buying in and look at your enemies or your neighbors enemies just kind of tongue in cheek. But then there's a few things you're looking for when you do the enemy method. So a there there are things that the numbers in the data can't tell you like the intangible reasons that the properties are performing the way that they are.   So you're going in, you're looking for outliers, like you know, if you've got a four bedroom that you're looking at, and next door is like a four bedroom dump with terrible pictures, and the host never responds. So it's like way, way, way down on the search results and never get seen. Well that's going to drag the data down, you're going to be able to do better than that one obviously.   Or conversely, if next door is another four bedroom that is just like the craziest four bedroom anybody's ever seen. And it's like celebrities rolling in and out in there and you're like making they're charging a million bucks a night to get to meet these celebrities at your house. Well that's gonna drag the data the other direction. So you're looking for that you're also looking for what you your enemy's cleaning fees are because that's gonna be a big one for you.   And then the rest of it is very similar to as if you were purchasing the house for a primary home like in terms of internet costs, utility costs, things like that, I found that my maintenance costs in short term are less than in my long term rentals, they're more like 1% of my income. Just because you have a cleaner in there who's professionally cleaning two, sometimes three times a week, so nothing ever really falls into that much disrepair if your cleaner is doing their job and you know, letting you know, stuffs happening. Whereas my long terms, you know, they're doing God knows what in there all year, maybe two years, maybe three years, however long they say. And when they when they move out. i   Michael: That's when you find out about it.   Avery: Yeah, paint carpet cabinets, the whole thing.   Michael: Yeah. Okay, that makes a ton of sense. I want to shift gears a little bit here and talk about a topic that's very near and dear to my heart, which is insurance. And so how do you insure these things? Because it's this kind of unique thing that I feel like a lot of insurance companies really haven't wrap their heads around yet.   Avery: Yeah, so you definitely want to get short term rentals, specific Insurance Proper is the biggest name in that space. They're also the most expensive, but they do have pretty comprehensive coverage, like all the way down to covering loss income, if you get bedbugs. Um, some insurance companies are kind of catching on and adding short term rental riders that you can add on. You also want to or I recommend any way of getting a commercial umbrella policy, in addition to short term rental specific, just to make sure that you're totally covered. And I get this question a lot because Airbnb and VRBO do offer a million dollars worth of liability coverage, when you sign up with them. And a lot of people are like, do I need insurance? In addition to that, yes, 100,000% Do not rely only on what Airbnb and VRBO provide, because their goal is to not have to pay bat. So better to be over insured than under. So definitely make sure that you're getting STR specific and a commercial umbrella.   Michael: Okay. And so kind of in that vein, if someone's owning the short term rentals in their personal name, do you think an umbrella a commercial umbrella is still appropriate? Or could they just add it on to their maybe existing Personal Umbrella?   Avery: You could it just kind of depends on your entire financial picture. And really just kind of a number of things. So it's hard to answer. But I would recommend just everything you can get get it no better to have it and not need it than need it and not have it.   Michael: No, I'm right there with you. And it's one of those things like you're only gonna know how much you really needed after a loss or after a claim. And by then it's a little bit too late. So I'm with you. 100%. All right.   And then. So shifting gears here again, how do you purchase these things, and it's so perfect that you you own the mortgage shop. And so, because there are short term lenders out there, but I feel like they're kind of few and far between and if you start talking with your traditional lenders about I'm doing short term rentals, like I don't know, so what are some things that people should be looking for? And what are some products that the mortgage shop offers that people might be able to take advantage of.   Avery: So we have three main products that most people use, a lot of people use that 10% down vacation home loan, that's a conventional product, there are rules that you want to make sure that you are following in regards to doing that meaning you do have to use the property for I think it's about two weeks a year. You are there's nothing nothing out there prohibiting you from renting it on Airbnb and VRBO the rest of the year when you're not using it, but you you know, what you don't want to be doing is skirting the rules and like you know, trying to like syndicate with a bunch of people using 10% downs and like taking equity there and all that don't skirt the rules because you're going to get the product taken away from all of us.   Michael: Don't ruin it for everyone.   Avery: Yeah, if any has caught on to people abusing that for buying like I saw somebody in a Facebook group the other day that was like yeah, that second home loans awesome. I've got two on the same street as me that are both second homes and like that, there's none like they totally like lied, they had to have lied to their loan officer to even get that because one of the main things is it has to be there's not a specific mileage amount that it has to be away from your primary, but a lot of lenders use like 50 miles or 65 miles because it has to make sense you're clearly not vacationing and you so that part that's the kind of thing that will get it taken away from from everyone but if you want to buy a vacation home that you're gonna use for two weeks out of the year and rent it the rest of the year, you can totally do that for 10% down so a lot of people do that.   We also have a 15% down investment mortgage, let me sorry, investment mortgage investment loan that is also conventional. So if you just want to use this is a pure investment 15% down you don't have to worry about all the second home rules you can just do it that goes up to the jumbo limit which I think is like a 725 ish or 750 purchase price on Have a look. And then the biggest one that people have been using lately, is what's called a DSCR loan. So that's a debt service coverage ratio loan, it's kind of a mix between a portfolio and a commercial loan. So it's not conventional. So the interest rates going to be a little bit higher, it is 20% down, but you can close it right in your LLC, it doesn't take into account any of your income or debt or debt to income ratio, all that it counts on to qualify is will the property make the same amount as what the mortgage payment will be on a one to one ratio.   So if the mortgage payment is 2000 bucks a month, all we need to see is that the property will make 2000 bucks a month in income, and then you qualify. So that's a really, really great one, especially for people who maybe have switched from w two income to 1099 income. And they don't have two years to show yet. Or maybe you're out of conventional lows, because you can only have 10. Or maybe you have the downpayment, but your debt to income is a little wonky. So a lot of people are using that DSCR loan just because you can drop it right in your LLC, you can have unlimited finance properties, and it's just a lot easier to deal with and not having to qualify based on your own income.   Michael: Yeah, that's amazing. And so when you say a one to one ratio for the mortgage payment, are you talking principal interest, taxes and insurance as your mortgage payment are truly just principal and interest?   Avery: Principal interest taxes in an insurance? So, um, the way that it works? Like I mean, you wouldn't be buying a property that wouldn't make at the very least, that each month,   Michael: I should hope not,   Avery: Because it's not a good investment. So I've actually had never seen one not go through unless you're buying a really weird remote area where no one has ever short term or long term rented before, then that would be probably a gray area, but in the big vacation markets and Metro markets and things like that. I've never seen one not, you know, not go through.   Michael: Awesome. What a cool product. That's great. And Avery, I'm curious to know, from your experience, where do you most new short term investors go wrong? Where do you where do you seeing them then botch themselves?   Avery: Analysis paralysis, just like anything just like any asset class, all real estate investing? The number one thing that stops people from getting started is analysis, paralysis, and short term is no different.   Michael: Oh, that's great. That's great. And so I'm just curious to know, as well, you mentioned some of the markets that you're currently investing in, and you've got investors and both personal properties. Where is the new hot place.   Avery: Um, so our newest market that we've opened an office in that I'm really excited about, probably the next place that I'm going to buy a short term rental, probably next year is the Crystal Beach, Texas market. It's right, right next door to Galveston, and the returns there are actually higher than the Smokies, which up until now has been our highest return market. It's also one of the most expensive markets, you know, in the Smokies, it's going to be a million dollars for a five bedroom maybe a little bit more. And to get a beach front or like second to your back beach property, you can get a five bedroom like a nice, pretty new five bedroom new construction for like the 700 range.   Michael: Wow.   Avery: So and make almost the same income as the Smokies. So don't quote me on that it's a case by case basis, obviously. But across the board the returns, they're really, really exciting.   Michael: Oh, that's amazing. And when you say returns are high, what are we talking in terms of percentage cash on cash?   Avery: So it depends on what kind of loan you do. Because obviously, if you do a 10%, down vacation how long your cash on cash can be twice the amount of what it would be, if it's 20%. But I mean, you're looking at 30%, like without issue. So depending it depends on what kind of loan you get. But even with a 20% down, like you're looking at some at least 20% cash on cash. So really, really good.   Michael: Oh, that's an that's amazing. That's amazing. So I'm curious to know, too, and I don't want you to give away the secret sauce that that's included in the book, but what are some things that people should be aware of with regard to professional management versus self management.   Avery: So this is something that I I talk about a lot so and and this is not an across the board thing. I 100,000% have managers for my long term. So it's a different game, we're talking about short terms, exclusively here. So um, if you are someone who is trying to use the income from short term rentals to really Bootstrap and boost that income and buy more properties faster, a traditional style property management company is probably not going to be the partner to help you get there.   Managing one short term rental is really only going to take you about 30 minutes per week. And it's not going to be all at once. It's going to be like I'm responding to a notification here responding to notification there. It's really like answering a few text messages a week. You might have to pick up the phone and call a plumber sometimes but it's really not anything, it's not any significant amount of work.   I have eight. And so to give you some perspective, so the traditional Property Management split and short term rental is average 25%. It was actually 40% When I started, but a lot of self managers and stuff have kind of brought, you know, people have had to lower their rates to stay competitive. But even if I had had a 25% manager this year, my properties are on track to hit an $800,000 Gross this year. So if I paid somebody 20% 25% of that, that's $200,000. This year that's like upper management level salary, to do something that I can do straight from my phone, like, is it work? Yes, but it's very easy work considering the $200,000 that I would be paying someone else to do that for me.   So when you look at it that way, it really makes a lot of sense. Once you get to probably about 10 properties, you might want to hire a virtual assistant to kind of help with things. But the way technology is now with channel managers and pricing managers, almost everything is automated, a lot of the things that were not automated when we started are now automated. So there's really no reason why I mean, really, anyone can self manage if they want to.   Michael: That's incredible. Nicely done. Nicely done. Avery, before I let you go here, I want to talk about your book, short term rental long term wealth, what should people expect to find in it when they pick it up?   Avery: So you will find the first half of the book is about how to choose a market, how to analyze a property, how to find the team in that market to help you so agent, mortgage broker, all those people. And then the second half of the book is actually about how to self manage remotely so that you can keep at potentially $200,000 a year to get yourself started so that you can then grow your wealth through short term rental investing.   Michael: Amazing. And people can pick that up on BiggerPockets calm as well as amazon.com.   Avery: Yes, so right now it's on bigger pockets, calm slash STR book, and you can pre order it on Amazon, it will ship November 14. It is also available on Audible right now.   Michael: Amazing. And if people want to take advantage of the short term rental shop, or the mortgage shop, what's the best way for them to get a hold of you and your companies.   Avery: So you want to go to the shorttermshop.com There's a little box in the middle of the page that says schedule a consultation, hit that button. That's the best way to get started with us. And then for the mortgage shop you want to go to www.mortgageshop.co   Michael: Amazing. Every This has been so much fun. So eye opening any final thoughts for folks before I let you out of here?   Avery: I think we've pretty much covered it. Thank you so much for having me.   Michael: Awesome. Well take care and we'll talk soon I'm sure. Thank you alrighty everybody, that was our episode a big big big, big big thank you to Avery This was so much fun. I learned a ton. If you're interested in short term rentals, I definitely recommend picking up Avery's book as well as going back to this episode and giving it another listen. As always, thank you so much for listening, watching, and we look forward to seeing the next one. Happy investing

The Amazing Seller Podcast
1060 • (Pros and Cons) Investing In Short Term Rentals and Niche Properties

The Amazing Seller Podcast

Play Episode Listen Later Nov 5, 2021 56:19


Welcome to this Friday's jam session. Now you might be asking, how do I get my question answered? All you need to do is become part of our take-action crew.  How do you do that? Head on over to https://takeactioncrew.com. It's totally free. We do this every single Friday. What you're listening to is one that we did last week.You can always show up to the rock your brand podcast and listen to our live jam session if you can't attend. So please sit back, relax and let's jam. Welcome back to another Friday jam session. Today's topic is–Investing In Short Term Rentals and Niche Properties. What are the pros and cons of a short-term rental? Why not build a whole bunch of niche properties and be done with it?I like diversification. I like the short-term rental game because if you create an excellent experience for someone. I'll talk about what I'm looking to create an outstanding experience that people won't get in their everyday lives. Now you have to be in the right surroundings and settings. We have to survey the land when building a niche property. So let me just kind of go through the pros and cons.All of this is discussed more in this episode. Watch this episode below or listen to it above. Enjoy, and let's CRUSH YOUR WEEK!