Short Term Rental Riches

180. Lessons from one of the industry’s leading experts (Danny Rusteen "Optimize Your BNB")

Apr 25, 2023
Danny Rusteen, a former Airbnb employee and author of 'Optimize Your BNB,' shares his journey from renting a couch to owning a top-performing Airbnb in Medellin. He dives into the evolving Airbnb market, emphasizing the importance of direct bookings and strategic decision-making. Danny discusses investment opportunities in lesser-known areas and the benefits of pet-friendly rentals. Plus, he reveals tips for creating distinctive listings and shifting from an employee to a business owner mindset in the short-term rental industry.
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ANECDOTE

Danny's Hosting Journey

  • Danny Rusteen started hosting by renting out his living room couch, the same way Airbnb began in 2008.
  • He also worked at Airbnb and owned a top-performing short-term rental in Medellin, Colombia.
INSIGHT

Market Professionalization Trend

  • The short-term rental market is becoming more professional with investors targeting profitable markets and projects.
  • Many influencers who bought rentals in popular spots might have overpaid and lost money, fueling talk of an "Airbnb bust."
ADVICE

Choose Market Type Wisely

  • Choose between discovered (popular) and undiscovered (niche) markets based on supply, demand, and competition.
  • Undiscovered markets often have less competition and can be just as profitable as bigger cities.
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