STR Investing, The Podcast

In this episode, co-host Mark Lumpkin breaks down the short-term rental numbers for Big Bear Lake, one of Southern California’s most well-known mountain vacation markets.This episode takes a data-driven look at how revenue, occupancy, and nightly rates shift dramatically by bedroom count — and why Big Bear Lake behaves very differently from many STR markets across the country.You’ll hear insights on:Revenue potential from 3-bedroom through 6+ bedroom homesHow much income each additional bedroom can unlockOccupancy trends that stand out compared to national averagesThe massive gap between average and top-performing propertiesWhy larger homes dominate revenue in this marketWhether you already own in Big Bear Lake or you’re underwriting a potential deal, this episode gives you clear, actionable data to understand where the real upside lives.

Nate Klatt, a CPA turned real estate entrepreneur and co-founder of HomeHop, shares his journey from flipping houses to managing over 50 short-term rentals. He addresses the importance of conservative underwriting and how they transitioned to larger properties with high-end amenities for better ROI. Nate discusses early mistakes, the power of design in boosting performance, and the structure of their investment fund. He highlights the essential tools for effective property management and the strategies driving HomeHop's future expansion.

It’s time for another Monday Morning Market Data Report — and this week we’re breaking down Flagstaff, Arizona.Mark walks through what the numbers actually say across 3-bed, 4-bed, 5-bed, and 6+ bedroom STRs, including how revenue, ADR, and occupancy shift as you scale up in size. And what makes this one interesting: Flagstaff looks like a “middle-of-the-country” baseline market… until you hit the bigger homes.In this episode, you’ll learn:What a “typical” 3-bedroom in Flagstaff earns vs. a top performerWhy 4-bed homes can earn more even with slightly lower occupancy (and why that’s not a bad thing)The real value of adding a 5th bedroom — and when it becomes a revenue multiplierThe wildest data point in this report: 6+ bedrooms nearly doubling 5-bedroom top-end revenueHow to use percentile data to set realistic revenue targets before you buyIf you’re trying to decide what size property you need to hit your STR goals — and whether it’s worth stretching into a bigger home — this Flagstaff breakdown makes it crystal clear.

Taylor sits down with Jacob — a Bay Area tech professional turned short-term rental investor — to unpack the real story behind taking a “big swing” on a remote, high-risk property… and having it pay off.Jacob shares how growing up in San Francisco made real estate feel impossible, why a single long-distance rental accidentally sparked his investing journey, and what finally pushed him from long-term rentals into STRs.Then it gets real: an $800K lakefront property in Northern Michigan, a massive footprint (with an indoor pool), limited comps, sky-high interest rates, and the kind of renovation logistics that make most investors freeze. Jacob walks through the stress, the surprises, the launch chaos, and the unexpected part of the business he thought would be hardest… but wasn’t.In this episode, you’ll learn:Why Jacob believes long-term rentals rarely deliver “real” cash flow (and what surprises most first-time landlords)How he chose a Midwest market before the data was obviousWhat underwriting looks like when you don’t have clean comps — and how to build guardrails anywayThe behind-the-scenes reality of renovating and furnishing from across the countryThe launch lessons you only learn when guests are arriving tomorrowWhy self-managing wasn’t nearly as hard as he expectedHow one deal can change your investing path faster than you thinkIf you’ve been stuck in analysis paralysis, this one is a reminder that you don’t need perfect certainty — you need the right protections, a real plan, and the willingness to get in the game.__Episode Sponsored By:STR SearchSTR Search is the industry leading property finder service. They've helped investors acquire over 325+ profitable STRs across the US. If you'd like the data professionals to help you find your next STR, reach out to STRsearch.com

This week, the focus is on Miami's vibrant short-term rental landscape. Discover how 3-bedroom properties can drastically differ in performance. Averages jump significantly for 4-bedrooms, while 5-bedrooms showcase impressive earning potential, hitting six figures! Even 6+ bedroom luxury homes maintain strong occupancy. Overall, larger properties shine in this market, proving that investing in bigger homes can lead to higher revenues. Tune in for insightful data and trends that could influence your investment decisions!

Dive into the world of hospitality with insights from Chris, who transitioned from working in European hotels to managing a successful short-term rental portfolio in Florida. Discover how his tennis travels shaped his approach to guest experiences and the importance of a stellar check-in process. Learn about innovative amenities like mini golf and how unique features can set properties apart. Chris shares valuable lessons on scaling investments and the art of turning underperforming rentals into top choices for travelers.

This week’s Monday Market Data Report heads to Asheville, North Carolina—a market packed with charm, hype, and more than a few misconceptions. Is it oversaturated, or still full of opportunity? Mark breaks down the real numbers by bedroom count to find out where the smart money wins.What you’ll learn: • How 3-bedrooms stack up—why the top 10% outperform the average by nearly $30K a year • The massive jump from 3 to 4 bedrooms, and what it takes to earn six figures in Asheville • Why 5-bedrooms only pay off if you’re a top performer • The surprising “sweet spot” for investors—6+ bedrooms nearly double revenue over smaller homes • How ADR, occupancy, and design decisions shift the math in one of the Southeast’s hottest STR marketsIf you’re eyeing the Blue Ridge Mountains, this data drop will show you where to buy, what to build, and how to stand out.

Taylor dives into the nitty-gritty of underwriting short-term rentals, emphasizing the importance of discipline in financial spreadsheets. He breaks down crucial factors such as purchase price, closing costs, and total out-of-pocket expenses. Forecasting revenue with data tools like AirDNA and modeling realistic scenarios are key strategies discussed. The podcast also highlights the difference between Net Operating Income and Free Cash Flow, along with essential return metrics for savvy investors. Plus, he stresses the value of a long-term perspective on appreciation.

Monday Market DataBoise, IDAirbnb Performance Data___________________________________3 BedroomAnnual Revenue50th Percentile: $32,34375th Percentile: $40,76290th Percentile: $53,556Average Daily Rate50th Percentile: $13975th Percentile: $17190th Percentile: $220Occupancy50th Percentile: 56%75th Percentile: 66%90th Percentile: 77%________________________________4 BedroomAnnual Revenue50th Percentile: $42,91575th Percentile: $53,98890th Percentile: $67,302Average Daily Rate50th Percentile: $19175th Percentile: $24290th Percentile: $308Occupancy50th Percentile: 54%75th Percentile: 63%90th Percentile: 72%___________________________________5 BedroomAnnual Revenue50th Percentile: $48,95475th Percentile: $58,96690th Percentile: $65,074Average Daily Rate50th Percentile: $23575th Percentile: $26890th Percentile: $305Occupancy50th Percentile: 48%75th Percentile: 57%90th Percentile: 69%_________________________________6+ BedroomsAnnual Revenue50th Percentile: $79,85375th Percentile: $92,83090th Percentile: $100,616Average Daily Rate50th Percentile: $29675th Percentile: $50890th Percentile: $635Occupancy50th Percentile: 45%75th Percentile: 57%90th Percentile: 64%_________________________________Which market do you want to see next?

Mark Lumpkin sits down with Nick Swanson and Alex from Chetu, a technology firm that has spent 25 years helping hotels, operators, and brands navigate digital transformation. Together, they unpack how AI is changing hospitality and what short term rental operators can do right now to stay ahead.Nick and Alex break down what agentic AI actually is, how it is already being used behind the scenes in hotels and restaurants, and why the next wave of tools will feel more like talking to a real person than fighting a phone tree. They also explain how STR hosts can use AI to refresh listings, improve Airbnb ranking, mine historic guest data, streamline pricing, and elevate guest communication without hiring a huge team.They share the story of Chetu's journey from tiny startup to a global company, and why AI is exposing digital weak spots that were papered over by old “transformation” slides. The conversation also tackles the big question on everyone’s mind: AI versus virtual assistants. Will AI replace VAs, or work alongside themIn this episode, you will learn:What agentic AI is and how it fits into hospitalityPractical ways AI can increase bookings and guest satisfaction in STRsHow to use AI to automate repetitive workflows and free your team to do higher value workWhy historic guest data is a goldmine that humans will never fully unlock on their ownHow to think about cost, data security, and using off the shelf tools versus custom buildsIf you are serious about using AI to grow your short term rental business, this episode will give you a clear, grounded starting point.__Episode Sponsored By:STR SearchSTR Search is the industry leading property finder service. They've helped investors acquire over 265+ profitable STRs across the US. If you'd like the data professionals to help you find your next STR, reach out to STRsearch.com