Newbie to Short Term Rentals
I am interested in starting with short term rentals to reach financial freedom and flexibility. I am currently a small business owner and love what I do but it requires a lot of sweat equity. I would like to use short term rentals to free up some of my time to spend with my growing family.
I am interested in learning everything I can as I look for my first property.
Most Popular Reply
Hey @Ryan Siebert!
It's definitely a solid path to financial freedom, especially if you're looking to scale and free up more time for your family. Since you own a business, you know the importance of being hands-on, but short-term rentals will require a mix of sweat equity and automation, especially for guest turnover and property management (as an investor/broker I've worked with a lot of clients that have done STR, and are now pivoting to MTR).
I'd recommend starting with a solid market analysis to find an area with high rental demand—look at vacation spots or areas with events that draw consistent visitors. Also, don’t forget to explore platforms like Airbnb and VRBO to see what properties are performing well in your target areas. Setting up a team (cleaning crew, handymen) early on will help you balance your workload and minimize stress.