576: Short-Term Rental Roundup: Small Markets, Partnerships, & When to Go “All In” | Q&A w/Rob Abasolo
BiggerPockets Real Estate Podcast
BiggerPockets
4.8 • 16.5K Ratings
🗓️ 27 February 2022
⏱️ 65 minutes
🧾️ Download transcript
Summary
The short-term rental market seems to get bigger and bigger every day. This should come as no surprise, seeing that short-term rentals not only work for vacationers, traveling business people, or anyone else who wants a nice, unique place to stay. But, while the rest of the world is focusing on which mountainside chateau they’re booking for their weekend getaway, real estate investors worldwide are figuring out how they can buy, rehab, furnish, and profit from these vacation rental ventures.
With so much competition in the market, it begs the question: is the short-term rental space becoming oversaturated?And, if it is, how can investors get on the ground floor of sleepy markets that will explode in popularity over the next decade or so? Of course, with questions like these, we need our short-term rental and wave-hair-styling expert, Rob Abasolo at the side of Sir BRRRR himself, David Greene.
In this Q&A episode, David and Rob will discuss a handful of topics, mostly centered around short-term and vacation rentals. Topics like: how to mix a long-term rental and short-term rental in one property, how to market outside of the top short-term rental platforms, can you convert a regular rental into a vacation rental, and the pros and cons of real estate partnerships.
In This Episode We Cover:
Buying mixed-use properties so you can combine long and short-term rental advantages
Whether or not the short-term rental market is starting to see saturation
How to adjust cleaning fees to optimize your booking rate
Converting a long-term rental into a short-term rental (and the time it takes to do so)
What to do when you can’t find comps (comparable rents) in your area?
The pros and cons of real estate partnerships and what to do before you join forces
And So Much More!
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Transcript
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| 0:00.0 | This is the bigger pockets podcast show. |
| 0:02.8 | Five, 76. |
| 0:05.0 | When you're investing big amounts of money, |
| 0:06.4 | you'll never get the same return as you can with small, |
| 0:08.8 | unless you just got lucky on a deal, |
| 0:10.2 | but it won't be sustainable. |
| 0:11.4 | So that's just two things to keep in mind |
| 0:12.9 | as you're moving forward. |
| 0:14.4 | If you're investing smaller amounts of capital, |
| 0:16.3 | you can almost always get a higher return. |
| 0:18.4 | And if you're putting in more than just capital, |
| 0:21.3 | you can increase the return on your capital, |
| 0:23.7 | but go into it with your eyes wide open. |
| 0:25.6 | No, and that's what you're doing. |
| 0:26.7 | What's going on, everyone? |
| 0:31.7 | It is David Green, your host of the bigger pockets real estate |
| 0:34.4 | podcast, the podcast where we teach you how to find financial |
| 0:38.4 | freedom through real estate. |
| 0:40.4 | So if you're looking to build wealth and build a better life |
| 0:43.0 | through the power of real estate, |
| 0:44.1 | you, my friend, are in the right place. |
| 0:46.3 | You should check out the website biggerpockets.com. |
... |
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