Short Term Rental Riches

If you are accepting longer than normal reservations with your short-term rental (30+ days) you'll want to make sure you're protected. After thirty days a guest will become a resident and with that comes a whole bunch of extra legal exposure. In this episode Tim will talk about the quickest way to provide an application, show a listing (without being there), approve a resident, and take rent and s...

Things are changing so quickly it's hard to keep up. Here are the latest updates on money you are likely ALREADY getting, necessary changes to your STR in the current market, financing available to you and some continued best practices for sticking through this pandemic and coming out stronger in the end.   Review of current best practices. Should I take local reservations?   Money coming your way...

It can be so discouraging. It can be so exciting. No matter which stage you're at in your real estate investment career financing will play a huge role.   You found the right deal but have no one to finance it? Well, look again. There is ALWAYS someone to finance it and without financing, unless you have all the cash, you probably won't be doing the deal. Let's delve into some potential financing...

We are living through unprecedented times, especially for us in the travel industry.   With all the uncertainty in the air I wanted to offer my perspective and give you the latest on my portfolio and my plans. Here's what I will be doing to protect myself for the long run, including my ultimate back up plan.   Don't be totally discouraged, there is also a bright side to this! Here are my thoughts...

Real estate is an amazing investment vehicle because it's predictable. But, what happens when it's not? What happens when the unexpected happens and there's a fire, you lose a roof, or the HVAC system goes out? You need to have reserves. Your short-term rental guests will also create wear and tear on your property. How much should you budget for that?   How much should you budget for your short-te...

We learn when we make mistakes. The more guests you accommodate the more mistakes (or learning lessons) you will likely encounter, but let's accept that as a benefit of our industry. Tim will explain why and how you can use mistakes to grow, improve your business and   make more money. The beautiful thing about the STR industry How to create perfection The "private reviews"   Pleasing the masses W...

The world is changing and so is the way that people travel. 100 years ago people were riding horses to many of the cities and towns where we now operate short-term rentals. Traveling is now easier than ever and the way we live is changing as a result of that. As investors in short term rentals we are in the perfect position to take advantage of the trends but we need to position ourselves appropri...

Our environment shapes how we feel. There is a psychology to interior design and there are certain components that comprise any living space. As short-term rental investors, are we creating the best space for our guests and one that makes our guests feel lively? The top 3 live plants to buy How plants can make you feel better Plants clean the air Who will take care of them? For more resources chec...

Should you wait to get in to real estate until the economy goes through its next cycle? Will the economy go into recession? What will happen? Who will get hurt the most? How do we protect ourselves from a downturn? Let's discuss:   Doom and gloom — is this for real?   Why some people won't be affected and others will Oversupply? Who will be the MOST affected? How do you become recession proof? Is...

There are hundreds of large MSAs (metropolitan statistical areas) and different markets that comprise the whole real estate market and each of them are unique. They have different growth rates, investment returns, laws, etc. How do we narrow down the BEST ones without doing ALL the research?   Discover the shortcuts to finding good markets Why do these markets make sense? The fundamentals of a str...

Asking how much it costs to furnish an apartment is like asking how much it costs to pay a random medical bill in the USA. It could literally be thousands more than you expected (much of which was not necessary) or it could be very minimal. Tim will give you a rough average of what you could expect to spend including:   Where not to skimp on price Where you can save Where to look for furniture The...

It's a big world out there and sometimes we get overwhelmed as investors with the amount of information coming in. There are so many ways to get started investing in real estate but they are not all created equal. We'll discuss one path that many may find to be the easiest and most comfortable AS WELL AS being the most affordable.   What type of property fits this plan? Why a more comfortable and...

What ONE main principle helps you determine whether the investment you are considering is worth while? It all comes down to the numbers. Tim will illustrate how purchasing a $100,000 investment is no different from purchasing a $10,000,000 investment. A quick story to illustrate how numbers will make the decision for you Why is a large deal no different than a small one? Don't become emotionally a...

Finding a property can be difficult. Luckily there is a position for that! Brokers and real estate agents can be your key to the ultimate property deal, but how do you find them? What are the keys to building a strong relationship with them? Leverage their market knowledge Leverage their contacts Did you know it doesn't cost you anything as a buyer? Making sure you know your search criteria For mo...

The hotel and airline industry have been monitoring their pricing dynamically for years; every short-term rental operator should be doing the same. The supply and demand in your market changes everyday and so should your prices, but that's a lot of work right? Not anymore. Let's dig into the basics of dynamic pricing and how you can automate this crucial component. You're leaving money on the tabl...

Are you wondering how much you're spending on housekeeping materials, linens etc.? Maybe you don't like bookkeeping so you've gotten behind. The larger your portfolio and business gets the more you need to track and the more tedious it gets. Check out Google forms! How to use them in your short-term rental business Eliminate extra steps Get organized! For more resources check out restmethods.com

How do you start off on the right path to automation and a passive investment with your short-term rental? You must have digital locks. With the plethora of options available today, which ones do you choose and why? Let's discuss some options so you can decide what fits best for you. Digital locks - which one to buy? Which ones do I use and why? Having a good platform for a solid automation founda...

Which property size makes the most sense for your short-term rental? Consider that some properties will have better occupancy, lower expenses and attract the ideal guest. Tim discusses what he has found to be the best rental property size for a short-term rental based on the dozens of properties he has acquired and the investment returns he has earned. Higher occupancy and returns! Lower utility e...

Short-term rental investing is a relatively new concept and as a result cities, counties and states don't quite know how to handle it. There are literally thousands of different regulations around short-term rentals. So, what do you do? How do you know your short-term rental investment is a good one and a SAFE one? Find out the best strategies so that no matter what happens you will be making a so...

What are the benefits of lease arbitrage and is it a better model than actually owning a short-term rental? Did you know that you can ultimately get property for "FREE" if you go the ownership route? We'll discuss the difference between building cash-flow and building wealth. Tax benefits of owning your property How to have full control of your property Infinite investment returns For more resourc...

Financing for a short-term rental? How much does it cost? What do lenders look for and how will it be different from traditional lending? Financing is a critical component for any real estate investor. Let's take a look at the big picture of lending to give you a brief overview of what to expect in the current lending climate. Important things lenders look for What kind of lender to use The best k...

If you're looking to invest in short-term rentals then you've found the right podcast! Host Tim Hubbard has acquired dozens of short-term rentals and will teach you every strategy, tip and trick he's learned along the way, managing over 10,000 reservations. In this brief intro episode he'll discuss a bit about his story and provide some credibility to the content he'll release in future episodes....