Ep 21 - 5 Things to Consider When Buying a Short Term Rental Property
HOSTS BIO\n\nMike Sjogren - Michael is a short-term rental expert and coach. He has a portfolio of STR properties across 5 states as well as an oceanfront boutique hotel. Michael brings a wealth of finance, business, and real estate experience. He is passionate about helping others create financial independence through the real estate so they can pursue their passions and leave their mark on the world.\n\nEmanuele Pani - Commercial and Residential Real Estate Consultant at Signature International Real Estate. Has a degree in accounting and finance. Started his real estate journey working as maintenance until the owner decided to sell the 40 unit apartment building to Emanuele Pani.\n\nHIGHLIGHTS OF THE EPISODE\n\n04:27 \xa0This is an investment.\n\n05:07 \xa0Why you should join our Short Term Rental Secrets Facebook group.\n\n05:53 \xa0Run the numbers both ways.\n\n07:40 \xa01st thing to consider: Remember to look at it as a business.\n\n08:29 \xa02nd thing to consider: 9 types of travelers.\n\n17:29 \xa03rd thing to consider: Seasonality.\n\n18:49 \xa0The key is just understanding.\n\n21:01 \xa04th thing to consider: Insuring your assets.\n\n25:50 \xa05th thing to consider: Regulations and HOA.\n\n27:51 \xa0Call the town or the city that you\u2019re planning to buy in and ask for any regulations.\n\n31:54 \xa0Recap of the 5 things to consider when buying a Short Term Rental Property.\n\n32:45 \xa0Final words from the hosts.\n\n34:47 \xa0A Halloween special episode: Coming soon!\n\nNOTABLE QUOTES (KEY LESSONS):\n\n\u201cIf you want a vacation rental for your family, and that\u2019s all you care about so the cash flow that you make when you make it is just the extra icing in top of the cake.\u201d - Emanuele Pani\n\n\u201cThis is one of those businesses that your success is really just determined by what you\u2019re willing and not willing to do. And if you\u2019re willing to do anything, this business works.\u201d - Emanuele Pani\n\n\u201cGood investments come from making good decisions and you need good information to make those good decisions.\u201d - Michael Sjogren\n\n\u201cIf the why is strong enough and you set it up the right way, the business will work for you.\u201d -Michael Sjogren\n\nBOOKS MENTIONED:\n\nRich Dad, Poor Dad - Robert Kiyosaki\n\nCONNECTING WITH THE HOSTS\n\nMichael Sjogren: \xa0Facebook Group | \xa0Facebook | Instagram | LinkedIn | Youtube\n\nEmanuele Pani: Facebook | Instagram | LinkedIn | Youtube\n\nLearn more about your ad choices. Visit megaphone.fm/adchoices