Rob is my favorite post-Brandon co-host! My wife and I have 1 single family long-term rental and we are thinking about getting a STR for our next investment. I’ve loved this series!
@@blanquitodjj I recently made the move from long term to short term rentals a little over 3 months ago. It is definitely more work (although you can automate a lot) but it's worth it to see all the 5-star reviews and seeing people across the country (no international guests yet) enjoy their stay with us. I'm rooting for you.
I just found y’all’s podcast a couple months ago. You all have changed my life and my outlook on life. On the outside looking in, people may not realize yet. I’ve been physical disabled for 16 yrs. Since I was only 33yo. Because of the bigger pockets you tube. I am taking on something I didn’t think I could do and am going to increase my income from $3k per month to 9.6k. So that I can get into short and long term rentals. Thank u guys so much for these 2 just break downs of it.
Great advice about handling worries. Don’t let them keep you up at night. Write them all down and then capture how you plan on handling these worst case scenarios. Not only is this a good practice for yourself, but your partners and investors will also appreciate the efforts. The other advice I really like is to start small and work your way up. One of my favorite businesses books is called Little Bets, and it’s all about this approach. I’m looking forward to seeing you walk through all the different steps in your vacation rental journey from analyzing a deal through rehabbing and furnishing to day to day running of the property.
Thank you for keeping me motivated. You guys are changing my life in the best way! Shalove Geter you need to here her story, Mother/Broker/Property Manager/ Owner/Beast! You need to get this women on the pod she so is so inspiring and I think it would be great to see things from a property manager's perspective too. Trust me she is remarkable!
Thank you David and Rob! This was very informative and easy to follow. My husband and I are considering a future in the short term rental market and would like to purchase our first property in 2025. I would like to know if there are opportunities to for bootcamp events in 2024 and even consulting with either of you that can help us get started. We are also interested in learning more about David's property management company that he mentions in this podcast. Thank you, Kim
Thanks for a great episode! I'd really love for you guys to do a deal deep dive, specifically on the analysis part. In particular, I'm super interested in the matrix you use to analyze.
Love seeing Rob on the BP podcast! You two (David and Rob) have a great rapport. I also really enjoyed the STR subject matter. I would love to see a future episode with a deep-dive analysis of a potential luxury version STR acquisition. Some related questions: - For my area at least, it is much harder to find comps with respect to income projection (there aren't many similar offerings on Airbnb) whenever I analyze high-end properties for sale. How do you navigate this? - If you are offering a luxury home for STR, how do you determine a bottom-line price? In other words, you might be able to boost your occupancy significantly if you slash the prices for a mid-week offseason booking, but are you opening yourself to greater risk? The guest that pays $250 a night on a Wednesday in offseason might not treat your high-end property with the same respect as someone who pays $1000+ per night for a peak-season weekend. Do you set your minimum to self-select the guests, even though it means a lower overall occupancy rate? - How does your furnishing/decor budget change for a luxury STR vs a lower-level property?
Me encantaría que hagas un episodio en español. Mi esposa es peruana y le he estado enseñando sobre invertir en casas pero sería genial si lo hacen en español para que entienda mejor. Estoy dispuesto a ayudar!!
Thank you so much David and Rob, this is a wonderful podcast with great explanations of best strategies to consider from the experts in the field! All the while making it so easy to watch/listen to from fun people, outstanding job please keep up the great work you are inspirations to so many of us!
Make Short Term rentals your #1, here's why: - Less wear and tear on the property as opposed to long term tenants - Less maintenance costs due to less wear and tear. Plus guests have a security deposit so they take good care of the home - MOST IMPORTANT REASON: Even when you only get bookings for half of the month, you end up making the same amount as a long term renter while having half of the utility cost and property use.
@@chibsryder people would argue theres more wear and tear with people vacationing and partying. You also have to hire cleaners and pay all the utilities
I would love to see an in depth analysis which shows how to analyze a rental property for more than just cash flow. How would you value a property using all metrics such as cash flow, rent rate appreciation, property value appreciation, etc etc and how much value you put on each of these. Where a property is currently and where you see it going in 1, 2, or 5 years.
STVRs are a business cash flow play not a RE play. You should not base a purchase on RE appreciation potential. It’s the business cash flow that’s the number one priority. Cash on cash return is everything and not overpaying for a property is a huge consideration.
Hi Rob & David G, love this episode with all valuable info you mentioned. Would appreciate you guys do a deep dive and analyze a property live using your matrix. I’m intrigued how the genius minds work! Haha
Teach me the math. Thank you for the amazing intro to short term rental theory. How much should I budget for expenses like restocking toiletries, kitchens, and all those batteries?
I loved this deep dive. Watched Pt 1 & 2 and it excites me. I’m currently active duty military but will be exiting the service soon. Just purchased a duplex in San Diego, which I where I plan on going to school. I have about 3 months of cash reserves. I want to eventually use the method Rob mentioned. The two units could sleep 12. Should I wait until I have 6months of reserves to execute both or should I try to do one unit first and see how it goes?
@helloromie, this was just a little gag since our Sunday releases have been "Seeing Greene" episodes lately but we didn't want to leave anyone hanging on part 2 of this STR content. You will notice that briefly in the intro, David's light is in fact...green!
