Courtesy of Mike Brown [Unbreakable Wealth], JP Newman [Thrive FP], Niraj Shah [nirajs.com], and Sylvie McCracken [T&S Elite Capital | SylvieMcCracken.com]
In July of 2023 Mike Brown, JP Newman, Niraj Shah, and Sylvie McCracken sat down with Baby Bathwater Members to discuss strategic and tactical approaches to owning and managing STRs.
Tune in For:
- How to Make Your STR Stand Out In the Supply Bubble (4:30)
- What You Should Be Looking for Given the Market Saturation (8:07)
- Considerations for Entering this Tough Market (10:20)
- Regulations in the Space & Threats to Short Term Rentals (16:37)
- What Makes STRs Appealing in Real Estate (24:40)
- Strategies with Shared Homes vs Separate Homes (30:10)
- Pros and Cons of Investors and Partners (32:30)
- How to Decide Where to Buy Your First STR (39:09)
- Metrics that Make the Investment Worthwhile (48:00)
Click Here to Download the Transcript of this Training
Recommended Resources:
- Air DNA – Analyze Potential Revenue for Acquisitions
- Keep in mind, the data is only as good as the inputs. Mike recommends building your own AirDNA data set by looking at 15-20 comps, looking at calendars, amenities, etc and doing your due diligence.
- Price Labs – Revenue Management & Dynamic Pricing Tool
- Recommended by Sylvie, a less expensive alternative to Air DNA
- Host Financial – Real Estate Financing Company
- Will lend based on cash flow from AirDNA projections. In Mike’s experience, they are easy to work with and reasonably competitive with traditional lenders
