Short-term rentals are booming, and Shawn Moore is here to share his wisdom and insights with aspiring investors!

Shawn Moore, an expert vacation rental investor with 23 years of experience in the industry, discusses the importance of market analysis when investing in real estate and how to stand out in a crowded market. Hear his experience buying a vacation home in 2006 and renting it out during the last crash, which piqued his interest in this asset class. Shawn shares his advice for creating unique experiences for potential renters, optimizing Airbnb listings, and understanding red flags when investing in short-term rentals. He also talks about how rising interest rates have impacted the vacation rental space and what investors can do to de-risk themselves.

[00:01 - 05:40] Opening Segment

Introducing Shawn to the show

The importance of analyzing markets and understanding if they're competitive

Red flags that Shawn sees in vacation rental deals

Shawn shares what it takes to be successful in the vacation rental space

[06:41 - 11:51] Optimizing Your Listing to Stand Out in Crowded Markets

Analyze markets to determine if they are investable

Competition is tough, and it's not just about having a great property

Understand the target audience and customer experience to be successful

Software tools can help, but the manual analysis is still necessary

Optimize listing to articulate unique experience and attract guests

[11:52 - 20:36] Understanding the Market and Avoiding Chasing Returns

Showing lifestyle photos articulate the experience of a property

Using people in photos, but done correctly, avoid hurting the listing

Have summer and winter photos to show what it's like in each season

Have excellent insurance coverage for potential liabilities

[20:37 - 27:23] Higher Interest Rates in Short-Term Rentals

Red flags in short-term rentals include trying to manage the property yourself and not using a full-service property manager

Having a large portion of your business based on one company can be risky as they can terminate your service at any time for any reason

Interest rates have increased, causing some businesses to reevaluate their strategies.

Underwriting is more challenging, making specific markets and properties less investable

[27:24 - 33:02] Closing Segment

Best investment: Shawn's first house

Worst investment: investing in a golf course

The most important lesson learned: pick one thing you can do today, and start building that life you don't want to take a vacation from

Quote:

"You're selling an experience, not selling a property. And that's where I think many people miss and miss. When they try to compete in these crowded markets, you're not just selling a property anymore." - Shawn Moore

Connect with Shawn!

Website: https://vodyssey.com 

LinkedIn: https://www.linkedin.com/in/vodysseyshawnmoore/ 

Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/

Track your rental property's finances with Stessa. Go to www.escapingwallstreet.com.

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