I can’t believe it I really can’t believe it it’s been 100 episodes almost 2 years of the short terminal riches podcasts and so much has happened a lot’s happened we’re gonna break that down in a brief history this week and if you’re new to short term rentals hopefully these changes of the last 2 years get you really excited about the opportunity that lies ahead.

Welcome to short-term rental riches will discuss investing in real estate with a specific focus on short term rentals quick actionable items to wire. Scale your portfolio I’m your host Tim Hubbard.

Welcome back to the short-term rental riches podcasts we’re here 100 episodes I can’t believe it that’s basically 2 years and all my gosh a lot has happened in the last 2 years so we’re going to break that down this week this is essentially a history of the short term rental industry the last 2 years of course not everything but the most important pieces and some super important things have happened but in the end I’m very very bullish on short term rentals so and real estate of course and so if you guys are new to this channel well stay tuned because we’re gonna cover what’s happened last years and why that has raised the short term rental industry for some serious growth so before I get started on this 2 years of history I got a break down the most important guiding principle that I’ve learned and that is consistency I talked about it on the fiftieth episode and now here we are another 50 episodes later we’ve covered so much in this podcast but I learned this principle early on from quite possibly my favorite book at least top 5 and that is the slight edge by Jeff Olson and he is all about consistency and that’s how we get results and I just feel obligated to review this really quickly again since we’re already here another year has passed and so much has changed and so these are some of the principles in the book it’s basically all the little actions that we take each day the either add up into good results or bad results while all these little daily habits that we have don’t have any real there’s no real very. The bowl difference on our life impact but if you add all these old days up will boom yes there isn’t turned into really big things John Dryden says we first make our habits and then our habits make us so just a quick review on that you haven’t read the book please go read it I swear it’ll change your life and it’s so important in this real estate game because things don’t happen overnight right they do take some time so please check it out at least check out a YouTube summary or you can go on the blink us which is a great out for summarizing books you can check it out there it will change your life I promise if you haven’t read it already self okay on to the history oh my gosh a lot’s happened in the last 2 years and I guess I’m just gonna start with Tobin and no I’m not going to break down all the negative things that have come because of that and it is been really hard for a lot of us and depending where we are in the world. It’s it’s it’s been different for all of us so I don’t want to dwell on that side of it but I do want to talk about the impact that it’s had on the short term rental industry first of all we’ve made it through what’s could easily be set as the the most difficult time for travel in our lifetimes. Airline shutdown hotel shut down borders shut down and yet short term rentals have prevailed they prevailed much better than most hotels we talked about that prior process in fact most everything the reviewing today we talked about prior process if you want the long version of some of these topics make sure you go back and check out our history you can check it out on S. T. R. riches.com we’ve got him all laid out there for you really easily self travel shut down right but not exactly it didn’t exactly shut down for short term rentals we were able to kind of this escape under the radar from a lot of these restrictions at the hotels had it’s much more difficult to regulate 5000 independent property owners in one city versus you know maybe 300 large hotels so we got the easy side of that and a lot of people continue to stay in short term rentals of course it depends on where you’re at in the world but we made it out of that okay and I would say during this time the visibility for short term rentals has grown exponentially you know what happens you know it has there’s there’s so many different types of short term rentals now and they’re all over the world and all types of cities we have series on Netflix now multiple series like amazing vacation rentals another one called stay here another one called instant hotel we have an H. E. N. E. channel cold vacation rental potential we have famous musicians dropping the word Airbnb and their songs that are heard by hundreds and hundreds of millions of people all the time so the visibility has grown a lot of the people that were just going to stay in hotels during not everything that’s been happening has opted to stay in short term rentals instead so the visibility has. Boomed and it’s going to continue to boom so we have started covered travel shut down Airbnb bands parties in August of last year now this is an important point not to scare you because of parties or anything like that but it’s important because what we learned from it we learned so much about the gas coming to our properties and along with that we created tons of tools tons of new technology to better manage our guests to make sure that we don’t have parties and then our properties are protected as best as possible with tons and tons of options now I can tell you without a doubt that starting a short term rental today if you don’t already have one is easier than it was 2 years ago and it’s much easier than it was 5 years ago because of the tools and the technology that we have available so we talked a lot about those tools on this channel I just want to do a real brief recap of some of the ones have become more popular and the last 2 years and a lot of those around navigating our way through good or bad gas so we have smoke detectors now that can monitor marijuana smoke we have noise detectors multiple options one for minute another one called noise where they can monitor noise levels in our property so if someone is having a party well boom they can send us a notification they can send a notification to the guests we have countless options for property management software now I did a prior visit on why I switch from gas T. to host away which I’m currently using because these things are developing so fast it’s so hard to keep track of all the new tools coming around so we have tons of property management software of course we have amazing tools for managing our pricing for managing our guidebooks for managing the gas contracts there is. So much out there now so that is another benefit with the difficult times we’ve had entrepreneurs have sprouted up in created solutions for us to handle a lot of these things also smart home technology oh my gosh there’s so much so much in that field now cameras doorbells with cameras on smart wifi systems are wifi systems that can reach really far distances nouns and streaming services so there’s so much to have way more technology than we did 2 years ago that’s for sure. If you haven’t got a chance to come to one of our last 3 live events which were a ton of fun and we learned a ton while I’m excited to share the dates for next virtual event November 13 and fourteenth you can find out more information at rest methods.com R. U. S. T. methods.com we are going to jam pack those 2 pages full of information if you haven’t got a short term rental yet or if you have a few or if you have a lot you’re going to learn a ton in this weekend event we’re going to share everything that my team and I have learned managing thousands and thousands and thousands of gas we’ve learned a lot we’ll take it from start to finish requiring these properties will run some case studies I will use my property analyzer tool which also get if you join the virtual bent we’ll talk about setting up the perfect online listing like approach to attract the most gas and then we’ll talk about operations and standard operating procedures and some of the tools that you can use to manage these properties as passively as possible but maybe what I’m most excited about is after sharing all that is answering your guises questions live I love hearing all the questions and we always get a lot of good one so come join us November 13 and fourteenth for our next virtual event again you can check it out at rest methods.com look forward to seeing you there. So we had to open it and that certainly disrupted things and it still is we had travel basically shutting down for a lot of the world but not as much for a lot of short term rentals especially if you’re outside of a city or you’re in a more remote area those did even better we have Airbnb banning parties and setting limits on the Max amount of gas that can stay in a property. And then we have Airbnb going public what a big change that is right they were valued at the time they went public in December of 2020 they were valued at over $100000000000 and that was at $160 a share so they are a super super valuable company and with good reason right millions and millions and millions of people are staying in Airbnb is all around the world and of all shapes and sizes in places and cities every demographic things change right this is this is the future for a lot of Reynolds so really excited about that but along with this giant valuation something else happened we’re attracting institutional money so large hedge funds are coming into the picture developers are building properties now. Designed for short term rentals because they’ve realized that millennials and a lot of the population are more mobile than we’ve ever been we’re working remotely we can stay in places longer so we are catering to that so short term rentals in their babies helps complete that picture we’re providing spaces for people to live in now on a short term basis Brian Chesky said in one of his recent quarterly reports that people are not just traveling on Airbnb they’re living on Airbnb and that is the absolute truth so a few more changes yes were were attracting institutional money now because the rent renter demographic has changed and the ownership demographic is change we did a podcast recently about how the home ownership rate in the U. S. stance is specific to the U. S. has dropped several percent that means millions and millions more people that may have been homeowners are now renters so rents are going up nationwide they’ve gone up over 10 percent year over year some cities as high as 30 percent so we have all these changes that affected the short term rental industry but we have this underlying change as a real estate investor that is super good for us as investors because rents are going up and if rents are going up course you want to be in the right market we have plenty of podcasts on that but if we’re in the right market rents are going up and that means your short term rents are going up as well now a few other changes in the last few years we’ve had a lot of pushback from cities fighting municipalities trying to ban short term rentals we have states now that are opening up and saying you cannot ban short term rentals in this whole state yes you can regulate it your city but their states like. Zona Indiana Tennessee that have passed a statewide laws banning the banning of short term rentals I know that sounds weird but they want to see short term rentals it’s good for a lot of cities it brings in tons of tax revenue Airbnb has partnered with tons and tons of cities across the nation and the world to automatically collect taxes on behalf of the cities the cities are making a lot of tax money from short term rentals so those are some of the big changes we had covert of course disrupted things a ton pretty much shut down travel but not necessarily for short term rentals we have all this new technology that’s been developed over the last 2 years we have Airbnb going public in attracting institutional money we have Netflix series popping up left and right to talk about vacation rentals we have YouTube channels focused on tiny homes and we have musicians dropping Airbnb and their lyrics and we have more people working remotely than we’ve ever had and we have more renters in the US anyways than we’ve ever had so it’s a good time to be a real estate investor it’s a really exciting time to be involved the short term rentals if you’re not already hopefully some of these things excites you about the short term rental world now one last thing before we go with this brief history as that we printed a lot of money we printed a lot a lot of money during covert it to help us bail out all these things and and what happens when we print a lot of money while inflation I’ve heard multiple different estimates but the last 2 years with the trillions of dollars that we’ve parted we’ve increased the money supply in the U. S. as much as 30 percent just in the last 2 years the whole money supply that circulate in the economy the. U. S. we printed the last 2 years so what happens when all this money enters the market let’s just say we have a can of soda for example and it’s $1 and there’s $1000000000000 in the market and then all of a sudden that $0 becomes $2000000000000 but there’s still only 1 can of soda well then people are gonna be willing to pay twice as much for that can of soda if they want right that’s how inflation works and so by owning real estate and by borrowing at fixed rates which are at historical lows we can circumvent some of that inflation weakened by that inflation by owning fixed assets because of 4 of borrowing money today at 345 percent fixed for 30 years and money is devaluing by X. percent a year that’s inflation that’s another way of saying inflation is that the value of our money is decreasing the government likes to say it’s you know a few percent 34 percent but it’s very realistic to it could be as high as like 10 percent which means if you have $100000 in your savings account and 1 year goes by and there’s a 10 percent inflation rate all the end of that year your 0 only worth $90000 so we can borrow money today with historically low interest rates fix that for a very long time we’re sensually pain back or loans with cheaper dollars I hope that makes sense it doesn’t make sense just remember you’re not even paying the loan back anyways right your gas sar or your tenants are so a lot has happened in the last 2 years and things are changing faster than ever but 1 thing is certain and that is that short term rentals are not going away they are the future I’m super bullish hope you’ve already gotten started in short terminals if you haven’t I hope this podcast has been valuable. For you I try to give you actionable advice like I have tried since day 200 episodes ago so I really appreciate you listening and it’s it’s awesome to see all the feedback we’ve got if you haven’t yet left us review really really appreciate it helps us grow I’m just give more content now so until next time I hope you have a wonderful day and I really look forward to our next 0 episodes together cheers. There’s so much money to be made the short term rentals but it all starts by having the right property if you guys haven’t yet seen my free ebook on our website rest methods.com head over there and get a copy it’s going to break down what I look for in a property in some great short cuts so that you don’t have to spend hours and hours researching at over rest methods.com and you can grab your free copy there if you want a crash course in everything I’ve really learned to short term rentals in over 5 years managing over 15000 Gasol recorded on our last live event and I’m happy to say we broke it down really nicely into a bunch of different modules that you can watch at your own pace it takes you from start to finish from finding a property we talk about analyzing the property but then also some of the more important pieces how to find your team and how to set up everything so that you can run your operation is passively as possible and free up your time you can find that it rests methods.com forward slash virtual.

 
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