It is a great time of year to make sure you are fully covered for your investment property! When looking at your coverage, be sure to keep these things in mind: Property Value The value of homes has increased significantly over the last few years and so have costs to remodel/ build. Does your insurance […]
A Historical Beach Town Decked in Holiday Cheer… If you are looking for a way to fully immerse yourself in all things Christmas, then Galveston, Texas has you covered!! This island town truly comes to life around Christmas time with streets lined in light covered historical houses, Ice Land at Moody Gardens with an indoor […]
In part 1 of our series, we talked about the financial metrics in managing real estate. In this part, we’ll talk about the core metrics that are more specific to the short-term rental market. There are two categories of core metrics that are very important in managing your rentals: Marketing and Revenue Management. You must […]
Whether you’re planning to contract with a Property Manager (PM) or manage the property yourself, knowing the financial and operational metrics of your business is critical. If you’re hiring a PM you should have metrics centered around Investment Cost, Revenue and Expenses. If you’re managing yourself you should also be prepared to measure Conversions, Bookings, […]
I’ve had a passion for real estate my entire life. When I travel for business or vacation, I spend considerable time looking at real estate (private homes, apartments, and hotels), contemplating the value of purchasing a property and making it available for rent. Until I started investing I didn’t understand the implications of making such […]
Are you intrigued by the Private Accommodations market (aka Vacation Rentals or Short-term Rentals) and just can’t get past the idea of staying in someone else’s house…or bed for that matter? Ever thought owning a vacation rental property sounded great and just weren’t sure if it would pay for itself, or where to start? If […]
In Part 1 we discussed how your objectives should align with your decision to RBO or contract with a PM. In Part 2 we’ll discuss some of the challenges with the industry and how taxes may have an influence on your decision. Are you prepared for unexpected? In life, things happen – and usually at […]
I’ve talked to a number of perspective vacation rental owners and many have immediately stated they either want to manage the property themselves (RBO) or hire a Property Management company (PM). Regardless of their decision I have to ask why they made that decision. Often times it’s based on a limited amount of information, often […]
Back to: Location, Location, Location Zig when they Zag – my suggestion on location: walk the area. Real Estate agents, even those that specialize and manage short-term rentals, aren’t good at recommending a location. I’ve bought/sold many properties and have talked to many more agents – each one recommended purchasing where all other investors have […]
Location, Location, Location You’ve heard this many times and it’s never been more true than with short-term rentals. Guests aren’t staying in your property very long and they’re willing to pay a little more to have a preferred location / view – especially in the offseason when rates and occupancy are more competitive. The […]