One of the most important things is to shift your mindset. Not everyone believes that investing in real estate is profitable or that it's too risky. Some other limiting mindsets include Short Term Rentals don't make financial sense. We'll teach you how to shift your mindset and to look at things differently than the average person. Once you shift your mindset, the possibilities are endless and you'll see the potential! 

Short Term Rentals also known as Airbnb’s are furnished properties that people will rent for a short period of time. Short Term Rentals are almost like hotels but have the amenities of a home. These properties can be located in destination or vacation markets but can also be found in local markets. These properties also tend to produce significantly higher cash flow than traditional rentals which usually will result in higher returns on investment. We'll share our blueprints that have led to our success. 

It is critical to select the right market. Picking the right location is essential to the success of an Short Term Rental. The wrong location could impact traffic to the property along with local variances restricting the use of Short Term rentals. Markets should be focused on destination locations or have multiple economic drivers such as colleges, government, hospitals etc. Having the right multiple economic drivers allows properties to stay full along with increasing the overall cash flow of the property.

Not all properties or deals are meant to be Short Term Rentals. It’s important to work with an investor friendly real estate agents who has the knowledge about STRs. They can help find a turnkey Short Term Rentals or may have the eye to see the “hidden” potential. Finding the property is just the beginning. Underwriting the properties is also critical. Learning how to underwrite a deal, we'll help you determine whether the property can cash flow and hit the necessary Key Performance Indicators (KPIs) by sharing our Property Analysis Scorecard.

It’s important to properly renovate your Short Term Rental to not only generate monthly income but to also create value and equity in the property. A careful balance must be struck; you don’t want to over improve the property. Not only are renovated kitchens and bathrooms important but the more amenities along with the number of people you can sleep in the property, may result in more cash flow. Decorating is also essential, properties need to be decorated to appeal to the masses but at the same time, your property should stand out from the competition.

Build out your systems, it is critical to have the proper systems in place to ensure your operations run smoothly. You don't want your property to run you, rather you want to run the property in a controlled and profitable manner. Repeatable systems and processes need to be implemented from bookings to the scheduling of vendors and much more. Without the proper systems, you won't be able to scale and you'll find yourself shackled to your properties.

Advertise your property, without the proper foot traffic to your Short Term Rental, you could be leaving thousands of dollars on the table. It could also leave you without the proper income and highly dependent upon booking platforms such as Airbnb and VRBO for your revenue. Developing the right social media presence is essential to your success and is doable without a marketing degree. Knowing your audience will also help you develop the necessary social media material along with advertisements.