Vacation rental resources

11 Replies

Hello there, I’m a multifamily investor from Columbia SC and interested in vacation and short term rentals in my city. Could someone please recommend books and resources to read to educate myself prior to investing in that field. Thanks

Honestly, you'll learn a ton reading in this forum, and there's a ton of blogs and podcasts out there too - search out some of them.  I don't think The Book is published yet (pretty sure @Luke Carl is working on it, though!).  Basics: know what the local laws are, know what the demand is, and go from there.

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@Zk Lani Just don't tell us you want to rent a long term rental house and then furnish it and try to rent it out by the week or on weekends to people on vacation.

@Lucas Carl thanks. Well I would assume marketing is the key here. My multifamily units are in great locations so typically once posted on Zillow they get rented quickly. Where I live we have the university of South Carolina, Fort Jackson army base, bunch of other nearby military bases and bunch of businesses. Vacation and short term rentals do well here. I was wondering what resources I can read to understand, learn other investors’ processes and personalize them.

Originally posted by @Zk Lani:

@Paul Sandhu i buy properties, I don’t rent them.

 You are on the right track.  Read my older posts.  My STRs are in a niche market.  It sounds like you are in a niche market.  I've rented to 5 (five) people on a vacation, the 5 of them were a family.  I've rented to 1395+ people that were here for non-vacation purposes.  Work.  Find your niche in your market and exploit it more than anyone else is.  I did, put them out of business or they changed their rental strategy to not compete with STRs. 

Hi! I have a free webinar I recorded for REIA if you'd like to get an overview. Send me a message and I'll send it over to you.

@Zk Lani I've been trying to do more research on AirBnBs in downtown Columbia as I think there is a huge need for visitors for Fort Jackson and UofSC parents, football games, etc. The route I am trying to take is to find a good operator and learn from them. It's a totally different business model as best as I can tell.

Can't wait to read the book @Luke Carl!

Zk Lani, Create an Airbnb account if you haven’t yet. Search for short stays in Columbia or wherever. Read up on the descriptions and reviews. Read what guests like and why. Buy houses and personalize them to fit the most desired needs. Reach out to five star hosts and ask specific questions. Offer to meetup, start a meetup if you have to for hosts. Good luck. 

What methods have you done, Will?