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How I Bought My First Boutique Hotel and Where I See Opportunity Over the Next 18 Months | E6
The Rich Somers Report
Diversifying income streams with short-term rentals
The individual diversified income streams by investing in short-term rentals, which were of high quality. In 2022, they established a short-term rental management company to manage not only their own rentals but also rentals for third-party owners on a selective basis. This company focuses on boutique-style management, only accepting properties that align with their standards. Despite growing the company and acquiring clients, challenges arose with increasing interest rates from March through May.
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