38 - Find your next property, project owners revenue and more with StrIQ w/Matt Sanderson
Nov 27, 2024
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In this engaging discussion, Matt Sanderson, co-founder and CEO of StrIQ, shares his journey from commercial real estate broker to short-term rental investor. He reveals insights from his experiences using his innovative platform to identify profitable rental properties. The conversation delves into maximizing rental revenue through strategic upgrades and the role of technology in automating property management tasks. Matt also unveils opportunities for audience engagement and exclusive giveaways, making this an informative and fun listen for real estate enthusiasts!
Matt Sanderson transitioned from a commercial real estate broker to a successful short-term rental investor, highlighting the wealth-building potential of these properties.
STRIQ simplifies property evaluation by integrating multiple data sources, significantly improving how investors analyze short-term rental opportunities and connect with local experts.
Deep dives
Matt Sanderson's Journey into Short-Term Rentals
Matt Sanderson recalls his transition from a commercial real estate broker to a short-term rental investor. After years of facilitating transactions and realizing the wealth-building potential of these properties, he decided to invest in his own. In 2020, he launched Ad Cap Investments and successfully acquired a property in Fredericksburg, Texas, which yielded a remarkable 60% cash-on-cash return. This early success propelled him to establish STRIQ, a platform to streamline property evaluation and enhance investment opportunities for others in the field.
The STRIQ Platform's Evolution
STRIQ was developed to address the complexities of finding and underwriting short-term rental properties. The platform integrates multiple data sources, allowing users to assess properties with ease, quickly revealing their potential cash flow and profitability. Sanderson and his co-founders realized the value of automating this process after experiencing the delays and frustrations of traditional methods. By transforming a simple calculation tool into a comprehensive software application, they significantly improved how investors analyze potential investments nationwide.
Case Studies of Successful Investments
Users of STRIQ have reported impressive results after utilizing the platform for property acquisition. Sanderson himself acquired a property that generated over $40,000 in revenue within 60 days of being listed. His co-founder Brendan also transitioned from no properties to managing multiple short-term rentals within a short period, directly attributing his success to STRIQ's capabilities. Sanderson emphasizes that while STRIQ provides valuable data, confidence in decision-making is key, and having access to accurate insights can make a significant difference for investors.
The Importance of Market Data and Networking
The STRIQ platform not only analyzes property values but also connects users with local experts, enhancing the decision-making process. Sanderson envisions expanding the platform to include essential data such as short-term rental permit requirements in specific markets. This strategic networking allows users to gain insights from experienced brokers and property managers, mitigating potential risks when entering new markets. By leveraging both data and local expertise, investors can navigate the short-term rental landscape with greater assurance.
Matt Sanderson is the co-founder and co-owner of StrIQ, software that can identify properties by cash-on-cash return. Matt himself has purchased two Strs using his program. StrIQ is out to change the industry. We consider it the Zillow of STR finders. You will want to listen to the whole episode as Matt drops a special gift for some listeners.
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