EP083: Real Estate Investing Using Airbnb With Glenn Carter
Summary
This article is a collection of podcast episode summaries from the 'Get Paid For Your Pad' podcast, discussing various aspects of STR management. Topics include revenue management strategies, CEO focus for scaling STR businesses, differences between hotel and STR revenue management, and overcoming operational overwhelm. Hosts should review these topics to refine their strategies, improve profitability, and optimize their business practices.
Key Insights
- •Early bookings can indicate underpricing or upcoming events.
- •STR pricing is dramatically harder than hotel pricing due to factors like product uniqueness and booking windows.
Action Items
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Identify the biggest bottleneck in your STR business to focus on improving.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com)
Common Mistakes
- ⚠STR operators stay stuck in the hectic host stage even as they grow.
- ⚠Most STR operators underperform not because they lack tools, but because they don’t know what to look at, when to look at it, or how to interpret booking behavior once it shows up.
More from Pricing & Profitability
A host reported earning $2,300 monthly on Airbnb with almost constant bookings, only to quit due to difficult guests. This highlights the financial potential of STR hosting but also emphasizes the importance of guest screening and managing guest behavior. Balancing profitability with a positive hosting experience is crucial.
This article discusses Kansas City's high occupancy rates compared to other World Cup host cities, raising questions about the effectiveness of efforts to increase short-term rental availability. It implicitly touches on market trends and the impact of major events on the STR market. The article likely explores whether increased rental supply can meet demand while analyzing the city's approach to STRs.
Realtor.com's report on best mountain towns for Airbnb returns reveals key locations for STR investment. The analysis likely includes data on occupancy rates, ADR, and RevPAR to identify profitable markets. Understanding these trends helps hosts optimize pricing strategies and choose lucrative destinations.
Curated by Learn STR by GoStudioM