Short Term Rental Riches

Discover the power of a one-page guide for enhancing guest experiences at short-term rentals. This simple yet effective tool provides essential information and personalized local tips, perfect for guests who prefer old-school approaches. Also explored are strategies for simplifying rental management, proving that less can indeed be more. Plus, learn about a successful virtual event that shares practical insights for boosting revenue and occupancy rates. Tune in for tips that make your rental stand out!

Discover the power of Notion, an innovative tool designed to streamline your business operations. Learn how it can transform your short-term rental management by organizing standard operating procedures and enhancing team collaboration. The discussion covers its seamless integration with platforms like Google Drive and Dropbox. Explore the additional personal benefits of this versatile database while hearing insights from a recent successful live virtual event on enhancing rental strategies and boosting revenue.

I’ve mentioned the benefits of being a real estate investor when it comes to taxes in multiple episodes, but no one knows this subject better than Amanda Han, my CPA and personal tax advisor. Not to mention, she sees the behind the scenes PROOF that short-term rentals can earn excellent returns! Since she is the professional in the space I thought it would be great to bring her on in a 2-part series to hear directly from the source. You don’t want to miss this!  In this second part of a two part series we’ll cover:  Selling a property and considerations with depreciation Defferring capital gains tax with 1031’s or “Opportunity zones” The benefits of filing extensions  Living in a multi unit that is ALSO an investment (a 4 plex for example) No capital gains tax up to $250 / $500k(if married) for personal residence exclusion  Recap of our typical expenses for the RE investor Recap of how to use your STR expenses to write off “other” income through “materially participating” Tax differences if you are doing lease arbitrage To find out more about Amanda and her company “Keystone CPA” visit www.keystonecpa.com To find out more about cost segregations you can contact Scott at scott@sudykainc.com  Thinking of doing a 1031 exchange? Check out http://www.exeter1031.com/    Want a crash course in just two days with everything you need to know to find, acquire and operate a short-term rental with passive operations? Good news! We have our latest live webinar recording available here; https://restmethods.com/virtual  For more info on finding the best properties join our email list and get our free guide and more at www.restmethods.com  If you want to learn more about Tim’s journey, email us at resilience@restmethods.com for a  free copy of the Amazon Best Selling book Tim co-authored: “Resilience, Turning Your Setback Into a Comeback.” Please make sure your subject line says “Book Copy”  Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well.

I’ve mentioned the benefits of being a real estate investor when it comes to taxes in prior episodes, but no one knows this subject better than Amanda Han, my CPA and personal tax advisor. She sees the behind-the-scenes PROOF that short-term rentals can yield excellent returns! Since Amanda is the professional in the space I thought it would be great to bring her on in a 2-part series to hear directly from the source. You don’t want to miss this! In this first part we’ll cover:  How does the IRS define a short-term rental? How can you offset W2 income or business income with STR expenses? Are you offering services with your rental? What do you need to consider? Passive income vs. business income - what's the difference? Becoming a real estate professional? What does that mean and what are the benefits?  Why many investors are looking to STR’s to help with their taxes as long as they “materially participate” - What does that mean?  The different types of depreciation benefits This is the first part of a two-part series so make sure to tune in next week so you don’t miss a thing.To find out more about Amanda and her company “Keystone CPA” visit www.keystonecpa.com To find out more about cost segregations you can contact Scott at scott@sudykainc.com  Thinking of doing a 1031 exchange? Check out http://www.exeter1031.com/    Want a crash course in just two days with everything you need to know to find, acquire and operate a short-term rental with passive operations? Good news! We have our latest live webinar recording available here; https://restmethods.com/virtual  For more info on finding the best properties join our email list and get our free guide and more at www.restmethods.com  If you want to learn more about Tim’s journey, email us at resilience@restmethods.com for a free copy of the Amazon Best Selling book Tim co-authored: “Resilience, Turning Your Setback Into a Comeback.” Please make sure your subject line says “Book Copy”  Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well.

Discover how misleading statistics can distort perceptions in real estate. Learn to critically assess data, especially when it comes to percentages that seem too good to be true. The podcast also dives into the concept of a pro forma and warns against relying solely on it for investment decisions. Explore examples from advertising, including a case with Colgate, to illustrate how numbers can be skewed. Stay informed and avoid misinformation by evaluating the credibility and sources of information in today's data-driven world!

Navigating the world of real estate investing can be daunting, especially for newcomers. The podcast breaks down six essential steps to get started, focusing on the financial aspects and identifying what you really want. It emphasizes the importance of picking the right market and area to invest in. Additionally, it covers assembling a reliable team to support your journey and the value of due diligence. Insights from recent virtual events provide tips on maximizing revenue and enhancing occupancy for short-term rentals.

Discover how to maximize your rental revenue with strategic pricing! Learn about the three key demand impacts affecting your rates and how to gauge your competition. Are you booking too early or too late? Find out how pacing affects your income. Dive into the world of dynamic pricing tools like Wheelhouse and Pricelabs to ensure you’re optimizing your earnings. Plus, get insights from a recent webinar that can elevate your short-term rental game!

The hotel industry is facing unprecedented challenges, with iconic establishments like the Lux Rodeo and the Roosevelt Hotel closing their doors. Occupancy rates are plummeting, leaving many hotels unable to survive. Meanwhile, short-term rentals are seeing a surge in demand as travelers seek alternatives. The pandemic has shifted preferences, giving short-term rentals an edge over traditional hotel accommodations. The landscape of travel is changing dramatically, and the implications for short-term rental operators are profound.

Dive into a compelling analysis of the financial dynamics between short-term and long-term rentals. Discover hidden costs associated with each type, from vacancy issues to turnover expenses. Learn how overlooked fees like lease-up costs can affect your bottom line. This engaging discussion sheds light on the real impact of these differences, providing valuable insights for anyone considering a rental investment.

Learn how to elevate your short-term rental game with insider insights from a VRBO account manager. Discover strategic tips for maximizing your property's exposure and securing those coveted reviews. Uncover the nuances of VRBO’s fee structures and get the lowdown on the new Property Boosts feature to enhance your search visibility. Plus, Tim shares invaluable resources and case studies to streamline your rental operations, whether you're just starting out or looking to optimize your existing listings!