Short-term Rental Investment Strategies

Making the Most of Your Short-term Rental Investment Strategies

1: Topic or Subheading

Short-term rentals (STRs) have gotten a lot of attention over the past decade with the rise of Airbnb, VRBO, and other companies. And, during the COVID-19 pandemic, STRs turned out to be a good bet for real estate investors. Data suggests that revenue per room was only down about 4.5% in the first half of 2020 – despite a 65% decrease for hotels and an estimated loss of $1.3 trillion for the tourism industry as a whole.

https://www.biggerpockets.com/guides/the-ultimate-guide-to-short-term-rental-properties: Much like a hotel, short-term rentals are properties that are rented out to guests on a nightly basis, rather than via a monthly or annual lease.Click here to learn more and get started!

2: Short-term rentals: What to know before investing

Short-term rentals have become popular real estate investments, but they bring unique challenges. From local regulations to managing guest expectations, here’s what to consider before investing.

https://www.jpmorgan.com/insights/real-estate/investing/what-to-know-when-investing-in-short-term-rentals: Short-term rentals can be an attractive investment thanks to the potential for greater cash flow. But they also bring new challenges for investors more familiar with traditional long-term rental properties, from fast turnover between guests to extra regulations.Get exclusive access now!

3: 10 Short-Term Real Estate Investment Strategies

Discuss another aspect or related topic. Offer practical advice, insights, or a unique perspective that adds value to the readers' experience.

https://www.gatsbyinvestment.com/education-center/short-term-real-estate-investment-strategies: When you aren’t in a position to tie up your available capital for a long period, short-term real estate investing can allow you to capitalize on the profitability potential of real estate without the long-term commitment.Discover more and take action!

4: What is a Short-Term Rental?

Conclusion

And there you have it! We've journeyed through some exciting insights and strategies to kickstart your adventure in the world of short-term real estate. Whether you're just starting locally or eyeing global opportunities, the possibilities are endless. Remember, each step you take brings you closer to turning your dreams into reality.

Don't forget to explore the resources we've shared through our referral links—each one is a treasure trove of information and tools designed to help you succeed. At Bangs and Hammers, we're here to support you every step of the way, from your first investment to building a thriving portfolio.

Thank you for joining us on this journey! Keep the momentum going, stay curious, and most importantly, have fun as you build your empire in the world of short-term rentals. Here's to your success—let's make it happen together!

https://michiganshorttermrentals.com/investing-in-short-term-rentals/: Before you start putting in offers and closing deals, it’s important to know what your budget is for investing in short term rentals. How much money do you have available to you? Some of the areas that you want to buy property in could be a very expensive and require a lot of capital. Depending on your why, you can find properties in under the radar locations that cash flow like crazy.Start your journey today!

Wrap It Up!

Unlock the secrets to successful short-term rental investments with our Rapid Links! Dive into quick, actionable tips and proven strategies to boost your income, attract guests, and manage properties like a pro. Whether you're a newbie or a seasoned investor, our rapid links will fast-track your success in the vibrant world of short-term rentals. Thanks to our readers for joining me on this journey. I encourage you to explore the referral links provided here to make the most of your journey with an exciting informative journey.

­ ­ Today I will be sharing a compiled list of Michigan zip codes with projected revenue for a single house in that zip code. How can this be useful? You can look at the projected revenue to purchase price ratio for 648 zip codes. What's the number we've historically used? 25% With the changing environment we are getting more conservative. 33% is the new number. That means if a house purchase price is $300k it should have $100k in projected revenue. Here's the parameters that were used: 👉 Looked for 4 bedrooms, 1.5+ bathrooms (if no 4 bedrooms then 3 bedrooms) 👉 Always input 12 guests into the calculator 👉 $200,000 to $600,000 price range 👉 Homes were found for sale by agent only on Zillow We pulled information from this tool (it's free, so use it): Things to keep in mind: 1. This is not investment advice. This is simply a quick way to POTENTIALLY identify a lucrative area. 2. This should be the very start of your research for finding a hot market. Once you find an area, dig in more. Look at vacation rental sites to see what prices are and how booked up other properties are. Find more houses in the area and run them through the tool mentioned above. 3. Not all homes entered into the tool resulted in a projection. I did not dig into why but I assumed there wasn't enough data to pull from the area. But hey, you know what they say about assuming 😜. 4. If a number looks too good to be true, it likely is. $250k house with projected revenue of $250k is unlikely. 5. Condition of house was not factored in. There's a chance it could be a complete rehab project resulting in a much lower purchase price than the average home in the area. 6. Just because there is revenue projections doesn't mean vacation rentals are allowed in the area. Call the appropriate municipality to verify they are legal. Here's the list: That's it! Best of luck. Three ways I can help you. 1. I can be your realtor for your short term rental. Reach out to me on LinkedIn. 2. I can manage your short term rentals. Visit our vacation rental property management site. 3. Work with me 1:1 to find and setup your first vacation rental. Tony