Episode 152: Airbnb World Domination, Arbitrage VS Buying, Peerspace & more!
Feb 26, 2021
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Myka and Steve discuss GameStop's short squeeze, Airbnb's dominance, buying vs. arbitraging, corporate rentals, managing workload, attracting travel nurses, and more!
Outsourcing and scaling are essential in the arbitrage business, allowing you to focus on higher-level tasks and expand your business.
The popularity of Airbnb and furnished rentals has increased due to COVID-19, with more people opting for close-by family vacations and stays in the same house.
Arbitrage has lower startup costs compared to buying properties, but buying allows for long-term ownership and potential equity growth in the real estate market.
Deep dives
The Benefits of Scaling and Outsourcing in Arbitrage
Scaling and outsourcing are key strategies in the arbitrage business. By hiring individuals to handle tasks such as property visits, taking pictures, and managing listings, you can focus on higher-level tasks and save time. It also allows you to expand your business by targeting multiple locations, as you can rely on others to handle the day-to-day operations.
The Growing Popularity of Airbnb and Furnished Rentals
The popularity of Airbnb and furnished rentals is on the rise, especially in the wake of COVID-19. People are opting for close-by family vacations or stays in the same house to limit their exposure to others, which has led to an increase in the demand for short-term rentals. Additionally, many individuals are recognizing the potential of renting out their own spaces on Airbnb, attracted by the simplicity and user-friendly nature of the platform.
Comparison of Startup Costs: Arbitrage vs. Buying
When comparing the startup costs of arbitrage and buying properties, arbitrage generally requires less initial investment. Setting up an arbitrage property may cost around $5,000 for furnishing and other expenses, while buying a property can require a substantial down payment and additional costs. However, buying properties allows for long-term ownership and potential equity growth, making it a more viable option for those looking to build substantial wealth in the real estate market.
The power of branding and SEO for businesses
Branding and search engine optimization (SEO) can be powerful tools for businesses to dominate their market and attract customers. By establishing a strong brand and optimizing their online presence, businesses can stand out from competitors and increase their visibility. Additionally, branding helps build trust with customers, making them more likely to choose a branded company over others. SEO techniques can also be used to boost a company's online rankings and drive more traffic to their website, leading to increased bookings or sales.
The impact of COVID-19 on the rental market
The COVID-19 pandemic has had a significant impact on the rental market, especially in areas that have implemented restrictions on short-term rentals like Airbnb. As a result, many homeowners have had to shift to long-term rentals to avoid financial losses. However, prolonged eviction moratoriums and tenants' non-payment of rent have created challenges for property owners. This situation highlights the importance of having multiple income streams and exploring various investment strategies, such as arbitrage and buying properties. The podcast hosts also discuss the potential risks and opportunities associated with investing in rental properties during these uncertain times.
This week Myka & Steve are back for a duo episode. They discuss the short squeeze, peerspace, the pros & cons of buying vs. arbitraging, & why Airbnb continues to dominate the market.
Steve's Airbnb/STR Management Company: WWW.ARGESTRENTALS.COM
Call Steve directly for a free consultation or just to say hi! 817-566-4777 (yes it's really me! Lol)
Myka's Info:
FB: www.facebook.com/myka.a.artis
IG: @sharebednbreakfast
IG: @mykaartis
Airbnb listings:
www.sharebnb.com
Myka's Consulting:
1-on-1 Consulting - Clarity.fm/sharebnb
Timeshare Course - gum.co/qErMd
Sign up for Minut – Use promo code MYKAA
Sign up for Stayfi - stayfi.com?lmref=xSakAg
Get $65 off your next Airbnb trip - www.airbnb.com/c/mykaa5?refer...
Sign up for Pricelabs - Referral Code - NpgYJI
Holler at Steve and Myka!
www.liveletthrive.com
liveletthrive@gmail.com
469-530-0239 (KEEP THE QUESTIONS COMING!)
IG: @liveletthrive
FB: www.facebook.com/LiveLetThrive/
Join our Fan Group:
www.facebook.com/groups/18642...
Mahogany Fitt's info:
www.facebook.com/Mahoganyfitt/
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