On this week's episode of Short Term Rental Management, Luke explores whether short-term rental owners are overcompensating with excessive amenities like fire pits and pickleball courts. He questions whether adding expensive features truly boosts bookings or just increases maintenance headaches and guest complaints. Luke emphasizes the importance of striking a balance between providing value and keeping management simple, urging hosts to focus on smart investments rather than unnecessary add-ons.

How to connect with Luke:

The Short Term Shop - https://theshorttermshop.com/

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For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties

 - https://amzn.to/3Adg6PA

On this week's episode of Short Term Rental Management, Luke draws a humorous and insightful comparison between managing short-term rental properties and raising kids. He discusses how both require patience, persistence, and a willingness to take the harder path to achieve success. Through personal anecdotes, he emphasizes the importance of learning from challenges, taking pride in ownership, and committing to the process, whether it’s property management or parenting. 

How to connect with Luke:

The Short Term Shop - https://theshorttermshop.com/

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Check out the Short Term Shop on Youtube

For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties

 - https://amzn.to/3Adg6PA

 On this week's episode of Short Term Rental Management, Luke dives into what makes a real estate deal and how to find one in today's market. He emphasizes that deals aren’t just sitting around waiting to be snatched up—they require persistence, market knowledge, and a bit of obsession. Luke also discusses how the definition of a “deal” varies depending on individual goals and financial situations, encouraging investors to take action, do their research, and stay committed to finding opportunities that work for them.

How to connect with Luke:

The Short Term Shop - https://theshorttermshop.com/

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Join the Short Term Shop Facebook group!

Check out the Short Term Shop on Youtube

For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties

 - https://amzn.to/3Adg6PA

In this episode, Luke dives into the concept of "Go Day", the day that marks the beginning of the busy season for vacation rentals each year. He discusses how Go Day is crucial for setting the tone for the rest of the year. He shares advice on what property managers should expect during busy season and what kind of occupancy to aim for. Luke also breaks down the different "personalities" of each month throughout the year. 

How to connect with Luke:

The Short Term Shop - https://theshorttermshop.com/

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Join the Short Term Shop Facebook group!

Check out the Short Term Shop on Youtube

For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties

 - https://amzn.to/3Adg6PA

In this episode of Short Term Rental Management, Luke focuses on the best times of year to buy and list a short term rental property. He discusses the cyclical nature of real estate and gives his personal opinion on the best time to buy your next STR. With a staggering 7.7 million listings on Airbnb, this episode explores the dynamics of the market and offers insights for potential investors looking to maximize rental potential.

How to connect with Luke:

The Short Term Shop - https://theshorttermshop.com/

Follow us on Instagram 

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Join the Short Term Shop Facebook group!

Check out the Short Term Shop on Youtube

For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties

 - https://amzn.to/3Adg6PA

In today's episode of Short Term Rental Management, we celebrate the release of a new book, Smarter Short-Term Rentals, authored by the one and only Avery Carl! Smarter Short-Term Rentals is a more comprehensive guide compared to her first book, delving deeper into the day-to-day management of rental properties. She is the only author in this asset class to be published by a professional publisher, making her achievements even more remarkable.Throughout the episode, Luke emphasizes the importance of patience and continuous education in the real estate business. Many people enter the field expecting quick returns, but real estate requires long term commitment and effort. He also shares anecdotes about meeting people who struggle with their properties after a few years and stress the need to stay engaged and proactive.

How to connect with Luke:

The Short Term Shop - https://theshorttermshop.com/

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Join the Short Term Shop Facebook group!

Check out the Short Term Shop on Youtube

For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties

 - https://amzn.to/3Adg6PA

This week Luke dives into the challenges that second year hosts and short term rental managers often face, particularly the risk of complacency. He notes that many people start strong, eager to make a change in their lives, but after about 18 months, they can become too comfortable and neglect their properties. Luke emphasizes the importance of walking the fine line between being overly obsessed with your first property and completely forgetting about it. After putting a property into service, it's essential to keep an eye on its performance, especially regarding pricing and occupancy rates. 

How to connect with Luke:

The Short Term Shop - https://theshorttermshop.com/

Follow us on Instagram 

Follow us on TikTok

Join the Short Term Shop Facebook group!

Check out the Short Term Shop on Youtube

For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties

 - https://amzn.to/3Adg6PA

In this episode of Short Term Rental Management, Luke dives into the topic of rental history and its relevance when purchasing a property for vacation rentals. He emphasizes that traditionally, past performance of a property is not a key factor in determining its future income potential because management strategies can significantly change the outcome. He discusses that times are changing, buyers are becoming more sophisticated, and in the current market properties with better rental histories might sell faster, even if it doesn't necessarily increase their value.

How to connect with Luke:

The Short Term Shop - https://theshorttermshop.com/

Follow us on Instagram 

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Join the Short Term Shop Facebook group!

Check out the Short Term Shop on Youtube

For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties

 - https://amzn.to/3Adg6PA

In this episode, host Luke welcomed Larry Murray, a passionate short term rental investor and seasoned firefighter with over 40 years of experience. They delved into the mechanics of whole life insurance policies and how Larry used them to fund his real estate ventures. He explained the benefits of these policies and how they allowed him to access funds without the stringent requirements of traditional bank loans. They also discussed Larry's subsequent investments, including a 172-door apartment complex in Texas and a 17-unit property in Hot Springs, Arkansas. Larry emphasized the importance of having skin in the game and the reality of multifamily investing, which often involves significant time, effort, and financial commitment.

How to connect with Larry:

https://www.ivorywolfproperties.com/

How to connect with Luke:

The Short Term Shop - https://theshorttermshop.com/

Follow us on Instagram 

Follow us on TikTok

Join the Short Term Shop Facebook group!

Check out the Short Term Shop on Youtube

For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties

 - https://amzn.to/3Adg6PA

This week Luke dove into the importance of alarm clocks and how they can inspire us to achieve our goals in the new year. He shared a memorable story from his early days as a runner, where he learned from successful individuals who woke up at the crack of dawn to fit in their workouts and manage their busy lives. This experience taught him that the common denominator among successful people is their commitment to rising early and making the most of their mornings. Luke provided practical tips for waking up earlier, such as gradually adjusting your wake up time and avoiding the snooze button. He also highlighted the mindset shift needed to view your alarm clock as a tool for success rather than a source of frustration.

How to connect with Luke:

The Short Term Shop - https://theshorttermshop.com/

Follow us on Instagram 

Follow us on TikTok

Join the Short Term Shop Facebook group!

Check out the Short Term Shop on Youtube

For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties

 - https://amzn.to/3Adg6PA