Our market is very heavy tourists, so a lot of individually owned STR condos, but honestly I've personally have had more success in long-term rentals doing the BRRRR strategy with small multi-families and B-Class SFR's. 

Lessons learned?

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I had to learn to adjust my numbers based on those factors and more. 

Although I don't personally like the trends, they were supported the City of BBL's October Compliance & Occupancy Data, which provided the following:1 - The occupancy rate for October was 38%, which compares to 55% prior year; 2 - Average nightly revenue dropped by 36% on a year-over-year basis; and3 - Demand decreased by 22% on a year-over-year basis, while SUPPLY ALSO INCREASED by 13%!

Hit me up if you want to learn more.I wish you all the best.

I have set up a few groups but its nice to have someone who has more RIE success so feel free to reach out or send me an email.Be nice to have another person I can refer to for my customers that want to talk to a local and may know more.

but... in my experience, you will be in a stronger position if you build a network of humans by going to real estate meetups and really learning a market.for example - here in Pittsburgh we have a lot of old houses that need big rehabs. and the best software / AI in the world can't help me, because it doesn't know the conditions of the interior, the sewer line, etc. for most of them. 

This approach focuses on finding deals and connecting buyers with sellers, helping you learn the market and hone your negotiation skills.

Look forward to connecting and learning with you all. - Steven