Player FM 앱으로 오프라인으로 전환하세요!
What we're learning from buying our next Airbnb property
Manage episode 300917857 series 2308493
Many STR hosts have dreams of turning their Airbnb business into a real estate investing company. But what does it look like to buy a property for short-term rental? How, exactly, does the process work?
Eric and I are currently in negotiations to buy an existing short-term rental business, including its four Airbnb properties and the land they’re on. And we’re learning a lot along the way.
On this episode of Get Paid for Your Pad, Eric and I sit down to share what we’re learning from buying this Airbnb property, explaining why it’s crucial to start with a vision of what you want to build and be patient through the process.
We walk you through our plan to improve the guest experience and increase revenue at the STR community we’re buying, eventually refinancing the property to build personal wealth and expand our portfolio.
Listen in for insight around the top three reasons to build a STR hospitality brand and learn how you can turn your Airbnb hosting business into a short-term rental investment company.
Topics Covered
Why it’s crucial to manage your emotions when you buy real estate
- Buy on numbers, overpay when attached to outcome
- Must be willing to let go (‘this or something better’)
How to recognize if the STR brand you’re buying is a good deal
- Value in opportunity to upgrade guest experience
- Increase revenue right away with technology, systems
Our plan to increase revenue at the STR community we’re buying
- Improve experience, raise prices by 30% to 50%
- Costs stay fixed = profit doubles
- Increase number of units from 4 to 14 income streams
The beauty of investing in real estate for short-term rentals
- Increase value of property to refinance in future
- Return cash to investors, pay selves and buy more STRs
How Airbnb hosts can become STR real estate investors
- Use other people’s properties to build hospitality brand
- Leverage profits to invest in real estate for STRs
Our top lessons learned from buying our next Airbnb property
- Develop clear vision of what you want to build
- Be patient through process vs. saying YES to everything
The top 3 reasons to build an Airbnb hospitality brand
- Lifestyle business
- Scale to sell
- Generational company (wealth to pass on)
Resources
Get Paid for Your Pad on YouTube
Legends X Short-Term Rental Accelerator
Email jasper@getpaidforyourpad.com
Sponsor
Hostfully [Discount Code PAD]
Hosted on Acast. See acast.com/privacy for more information.
617 에피소드
What we're learning from buying our next Airbnb property
Get Paid For Your Pad | Airbnb Hosting | Vacation Rentals | Apartment Sharing
Manage episode 300917857 series 2308493
Many STR hosts have dreams of turning their Airbnb business into a real estate investing company. But what does it look like to buy a property for short-term rental? How, exactly, does the process work?
Eric and I are currently in negotiations to buy an existing short-term rental business, including its four Airbnb properties and the land they’re on. And we’re learning a lot along the way.
On this episode of Get Paid for Your Pad, Eric and I sit down to share what we’re learning from buying this Airbnb property, explaining why it’s crucial to start with a vision of what you want to build and be patient through the process.
We walk you through our plan to improve the guest experience and increase revenue at the STR community we’re buying, eventually refinancing the property to build personal wealth and expand our portfolio.
Listen in for insight around the top three reasons to build a STR hospitality brand and learn how you can turn your Airbnb hosting business into a short-term rental investment company.
Topics Covered
Why it’s crucial to manage your emotions when you buy real estate
- Buy on numbers, overpay when attached to outcome
- Must be willing to let go (‘this or something better’)
How to recognize if the STR brand you’re buying is a good deal
- Value in opportunity to upgrade guest experience
- Increase revenue right away with technology, systems
Our plan to increase revenue at the STR community we’re buying
- Improve experience, raise prices by 30% to 50%
- Costs stay fixed = profit doubles
- Increase number of units from 4 to 14 income streams
The beauty of investing in real estate for short-term rentals
- Increase value of property to refinance in future
- Return cash to investors, pay selves and buy more STRs
How Airbnb hosts can become STR real estate investors
- Use other people’s properties to build hospitality brand
- Leverage profits to invest in real estate for STRs
Our top lessons learned from buying our next Airbnb property
- Develop clear vision of what you want to build
- Be patient through process vs. saying YES to everything
The top 3 reasons to build an Airbnb hospitality brand
- Lifestyle business
- Scale to sell
- Generational company (wealth to pass on)
Resources
Get Paid for Your Pad on YouTube
Legends X Short-Term Rental Accelerator
Email jasper@getpaidforyourpad.com
Sponsor
Hostfully [Discount Code PAD]
Hosted on Acast. See acast.com/privacy for more information.
617 에피소드
모든 에피소드
×플레이어 FM에 오신것을 환영합니다!
플레이어 FM은 웹에서 고품질 팟캐스트를 검색하여 지금 바로 즐길 수 있도록 합니다. 최고의 팟캐스트 앱이며 Android, iPhone 및 웹에서도 작동합니다. 장치 간 구독 동기화를 위해 가입하세요.