Multi-family market evolution over time

[Sean Bramble]

Hey BP! I’m a rookie short term rental investor trying to learn all I can from RE history. I’ve heard a few folks mention that short term rentals today remind them of multi-family in years/ decades past... STRs have evolved in recent years from a “buy anything and it will cashflow” type of asset class, to today where there is a lot more competition, yields are more compressed, and more value add operators are beginning to enter the space. But many say it’s still “early days” … lots of evolution/ opportunity ahead on the horizon

It would be great to hear from those of you who have seen multi-family evolve over time … what “phases” did it go through? What strategies did operators use in each phase? Where do you think opportunity will be in short term rentals as the industry evolves/ professionalizes? I know it’s not a true “apples-to-apples”, but my guess is I can learn a thing or two from you all :)