Short-term rentals (STRs), also known as Airbnbs or vacation rentals have become increasingly popular over the last few years. This interest spiked during the COVID pandemic, and despite a recent slowdown, interest continues to be strong in the post-COVID era.
We have seen the same trend in our groups. Three years ago, very few in our community were talking about STRs. Now, we see the vast majority are planning to add at least one STR to their portfolio over the next few years. Why such a high, almost frenzied level of interest?
One reason is the potential for high cashflow. It’s not unusual for a single STR to cashflow $50,000 to $100,000 when you self manage.
Short-term rentals also give high-income professionals a way to shelter their income while continuing to work full-time. Real estate professional status requires that you spend more time in real estate than your current profession, so it is not an option for those who choose to work full-time. These are just a few of the many reasons why so many high-income professionals are investing in STRs.
With so many great benefits, it’s not hard to see why there’s so much interest in short-term rentals. However, when it comes to investing, you can’t just focus on the upsides, you HAVE TO carefully think through the downsides. Otherwise, there’s a considerable risk that you lose money! This is one of the main reasons we created our course, Accelerating Wealth. We wanted to ensure that members of our community limit their mistakes and avoid falling into the common short-term rental traps.
If you want to learn more about the course and how it can help you accelerate your wealth, be sure to tune in!!
Accelerating Wealth is open for enrollment twice a year. If enrollment isn’t open yet, you can join our waitlist to be enrolled in our next course!
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