An Inside Look into Short Term Rental

Need a vacation, but don’t think you can afford it? Invest in short-term rentals to spend time relaxing with friends and family to realize that life goes on. However, Airbnb-style investing isn’t for everyone. Unless, you know how to do it right and treat it as a business. 

Today, Clint Coons of Anderson Business Advisors talks to Richard Fertig, founder of Short Term Rental University (STRU). 

Richard provides insight to overcome challenges that make short-term rentals create cash flow. They’re supposed to be a value add to your life and income, not a distraction.

Highlights/Topics: 

• Why start STRU? Out of frustration with the Airbnb platform.
• What is your personality type and approach? Hands-on or outsource and automation.
• Why short-term rentals? Single largest rate of return out of all real estate investments.
• Would you stay there? There are properties/places all over that are desirable locations. 
• Is there competition? Narrow niche to charge a premium and be unique, not generic.
• What about reviews? Trust feedback from peers; guests rate hosts, hosts rate guests. 
• Is it a way to make easy money? Depends on location, location, location. 
• How has COVID impacted rentals? If you're in the right location, you can have the best year yet.
• Where are the best places? Places off the beaten path or on people’s bucket list.
• What are the general guidelines? Depends on budget; the same number of baths/bedrooms. 
• What are the common mistakes to avoid? 
  • Find something interesting, and then price it at a premium.
  • Attract your tribe to be much more profitable. 
  • Don’t invest in condos where 300 other people are competing against you.
  • Don’t view occupancy as a Key Performance Indicator (KPI).     

Resources

YT Playlist with Best Videos for STR Hosts Starting Their Journey

https://geni.us/cYwzHGy

STRU YouTube Channel

https://www.youtube.com/struniversity

STRU Facebook Group

https://www.facebook.com/groups/113927182423791/

Airbnb

https://www.airbnb.com/

VRBO

https://www.vrbo.com/

AirDNA

https://www.airdna.co/

Clint Coons

https://andersonadvisors.com/clint-coons/

Anderson Advisors

https://andersonadvisors.com/

Anderson Advisors Tax and Asset Protection Event

https://andersonadvisors.com/asset-protection/

Anderson Advisors on YouTube

https://www.youtube.com/channel/UCX5nh607M8hSBLiMB9MgbIQ