On this week's episode Luke discussed the common misconceptions that many newcomers have regarding the industry and the importance of understanding the true role of a property manager. Luke emphasized that while real estate can indeed change lives, it requires hard work, integrity, and a commitment to ethical practices. He also touched on the growth potential in the property management industry, emphasizing that since the management space is not saturated with quality providers, there is a lot of room to build and scale your own company.

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

In this episode, Luke shared the importance of community when it comes to owning short term rentals. He discussed the dynamics of living in a small town that attracts millions of vacationers each year and emphasized the importance of community and the role that short term rentals play in local economies. He also touched on the significance of tax dollars in funding local projects like beach restorations, erosion control and community sustainability.

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 Luke shared his take on whether or not he thinks you really do get an algorithm boost when you launch a new listing. He shared his experience with this and also emphasized the importance of taking advantage of the boost while not overthinking the process. He also stressed focusing on your long term perspective rather than just the short term. He also shared some tips for pricing strategies and managing expectations.

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 Luke, Avery and Tim went over some of the essential strategies for navigating the holiday season and preparing for 2025. They discussed the importance of pricing and booking strategies as we approach Christmas and New Year's, especially with the holidays taking place on Wednesdays this year. Luke shared his approach to packaging holiday bookings, emphasizing the need to adjust prices for less desirable dates. He also touched on the significance of maintaining high base rates for the upcoming summer months while being proactive in filling in gaps during the slower winter season. They also discussed the demographic shift in travelers expected for 2025, with a notable increase in older travelers, and how this might affect bookings.

*Previously aired on The Short Term Show*

How to connect with Luke & Avery:

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

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

 - https://amzn.to/3Adg6PA

This week Luke is joined by Saad Dar from Baselane Bank. They discussed the unique features of Baselane, such as the ability to manage all financial aspects of real estate investments from a single platform. This includes automated bookkeeping, virtual debit cards for specific expenses, and multi-user access for team members or virtual assistants. Saad emphasized how Baselane can save investors significant time and money, making it easier to scale their portfolios. They also touched on the challenges of traditional property management and how Baselane's features, like online rent collection and tenant screening, can simplify the process for landlords.

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

This week's episode is something a little bit different where Luke reviewed some special listings he found on Airbnb. He scanned through each listing, the description, the photos, calendar pricing and more to determine if it earned the Cashflow Carl stamp of approval. He went through the positives and negatives and offered tips on how he thought each listing could be improved. Click the links below to see the Airbnbs for yourself!

Largest Airbnb

Smallest Airbnb

Most Reviewed Airbnb

Weirdest Airbnb

Most Expensive Airbnb

Oldest Airbnb

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 Luke covers the illusion of uniqueness when it comes to renting out homes. He highlights that managing rental properties is not a new or revolutionary concept, it's been around since the beginning of time. While platforms like Airbnb have popularized short term rentals, the fundamental principles of renting out properties remain unchanged. He also recommends getting a long term rental as a way to firmly grasp the basics of renting out a home. 

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

On this week's episode, Luke dives into a common concern among new property owners: what to do when your short term rental isn't making money. He emphasizes that the core issue boils down to the balance of income versus expenses. He discusses several reasons why a property might not be profitable and stresses the importance of running the numbers before purchasing a property and being realistic about the time it takes to see returns in real estate.

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

This week Luke is joined by short term shopper Jack Cronin who is based in NYC. Jack shared his journey into real estate, which began with his family's traditional approach to homeownership and evolved into a passion for investing in rental properties. Jack and his fiancée, both lifelong renters, have built a diverse portfolio that includes long term rentals in Mississippi and short term rentals in Blue Ridge and Broken Bow. They then delved into Jack's strategy for short term rentals, discussing how he leverages his marketing background to optimize guest experiences and occupancy rates. He shared insights on pricing strategies, emphasizing the importance of reviews and guest satisfaction over maximizing nightly rates. Jack's approach includes offering competitive pricing during off-peak times to ensure consistent bookings, which has led to impressive occupancy rates.

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

On this week's episode of Short Term Rental Management, Luke reflects on the post-COVID economy and the financial challenges we currently face, dubbing it the "false level up of the COVID era." He shares personal anecdotes from March 2020, a time filled with uncertainty and fear, especially as a new parent. Luke also reiterates that despite the economic challenges we currently face, there is hope. He notes that the travel industry is projected to see $1.3 trillion in spending by the end of 2024, and emphasizes that even though Real estate sales are currently in a slump, the current market presents a great buying opportunity.

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