STRonomics

2024 Predictions

Jan 4, 2024

STRonomics hosts discuss predictions for short-term rental investors in 2024, including the impact of interest rates, the economy, and elections. They also touch on booking lead times and the gradual return to normalcy in tourism. They caution potential investors to thoroughly scrutinize property deals and consider long-term plans. The podcast emphasizes the importance of finding properties that offer cash flow and appreciation, investing in secondary markets, and avoiding cookie-cutter properties.

17:33

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Quick takeaways

Investing in short-term rentals can still be viable, despite challenges and rising interest rates.

Selecting properties with unique features and desirable locations can lead to increased booking lead times and steady rental income.

Deep dives

Increasing interest in short-term rentals despite challenges

Despite challenges such as increasing regulation, market saturation, and rising interest rates, the podcast episode highlights that investing in short-term rentals can still be a viable option. The speakers discuss the importance of staying ahead of the curve and identifying trends before they happen. They emphasize the need to invest in properties with unique features, amenities, and desirable locations to ensure success in the short-term rental market. While market conditions and external factors such as interest rates and the economy play a role, the speakers suggest that investing in the right properties can lead to increased booking lead times and steady rental income.

Introduction

2min

Upcoming STR Wealth Conference and Predictions for Short-Term Rental Investors

2min

Current State of the Travel Industry and the Impact of Interest Rate Reductions

8min

Property Investment Considerations and Long-Term Strategies

2min

Long-Term Thinking, Investing in Secondary Markets, and Avoiding Cookie-Cutter Properties

3min

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries.

In this episode of STRonomics, hosts Bill Faeth and Kenny Bedwell discuss the outlook for short term rental investors in 2024. They reckon that the future market performance largely hinges on factors like interest rates, the economy, and election outcomes. They also highlight how booking lead times seem to be slowly increasing in the US, evidencing a gradual return to normalcy in tourism after the pandemic-induced slump. On the other hand, they predict real estate markets in the US will become highly competitive and any future value growth will be much harder to secure. Lastly, they caution potential investors to thoroughly scrutinize property deals, considering long-term plans and steading clear from overtly inflated markets.

00:00 Introduction and Welcome

00:14 Excitement for the Upcoming STR Wealth Conference

01:00 Predictions for Short Term Rental Investors in 2024

01:21 Impact of Interest Rates and Economy on the Market

01:30 Trends in Booking Lead Times and Travel Patterns

02:06 Market Dips and Recovery

02:55 Outlook for 2024

03:31 The Impact of the Fed and Elections on the Economy

05:00 Importance of Market Research and Tracking Search Volume

05:55 Buying Strategy for 2024

06:36 Impact of Lowering Interest Rates on the Market

07:15 The Role of the Fed and Interest Rates in Buying Decisions

07:41 The Effect of High Interest Rates on the Market

08:07 The Best Investment Opportunities and Market Trends

14:24 The Importance of Long-Term Thinking in Property Investment

14:50 Avoiding Common Mistakes in Property Investment

16:58 Closing Remarks and Contact Information

We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/

Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA

STR Data Hosts Facebook Page

Instagram: Kenny_Bedwell

You can find more of Bill online at:

Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1

Build STR Wealth: https://buildstrwealth.com/

Instagram: @BillFaeth73

Tik Tok: @bfaeth

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