My top 7 predictions for Airbnb in 2022
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- Опубликовано: 26 сен 2024
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I think that you understand this space extremely well.
Thanks!
For small players. Small towns are killer. It’s almost like starting from the beginning. Won’t last forever. But there is opportunity for the next 2-3 years for smaller players to get started
What would be a good way to get into this.
Our town in CT had no zoning category for short term rentals - we could only apply for Bed and Breakfast- it took almost a year with all the requirements that had to be met- we don’t regret it because it is an approved business rather than a hidden Airbnb Vrbo rental
Always on top of the game Richard ,thank you for sharing all the great stuff.
🔥 I’m with you on this Edy! This was a great video!
P.S. If you have any other questions about starting & growing your Airbnb business lmk.
Really brilliant insight. Thanks for doing this. The passion for doing this business you have is refreshing. Your excitement is obvious and contagious. My wife and I are approaching retirement, and during the pandemic we got out of RVing as we could use our units free and then sell for more that we bought it for a year earlier, so, with dogs we began doing short term rentals as customers. I think it's an incredible opportunity, but I SO appreciate your warnings because you don't know what you should fear without knowledge. Because I can't know what I don't know, your information is vital. Thanks Again.
This is one of the best videos I have had today. I have experienced an upsurge of the middle market That resonates well with what you are teaching. Couldn’t come at a better time! Can’t wait for the promised video.
🔥 I’m with you on this bob! This was a great video!
P.S. If you have any other questions about starting & growing your Airbnb business lmk.
We all needed to hear #6.
There’s already major players in STR…Extended Stay is one of them.
💡Great point @Toxic Masculinity! Would you mind sharing more?
The best is yet to come 100%!
12 years in the game. I think I'm ready to trend away. Too many STRs on the market cant compete with hotel prices. Repairs, staff and costs are way too high.
💡Great point @Markus! Would you mind sharing more?
It's been quite a while since I heard valuable insights on Airbnbs.
We’ll my friend, what you said after 13 minutes of the video, you are predicting what I am about to do. My Airbnb is going to revolutionize the short term rental industry and a new trend will start. There will be no Airbnb like mine.
Thank you Richard for these predictions, love them. Glad I found you and would love to join this community of entrepreneurs that also invest in short term rentals. I'm definitely curious about all the new bylaws that do not allow a tourist city such as Niagara Falls to do short term rental in residential areas and I noticed a lot of local towns are now working on updating their bylaws, but hopefully like you said they realized that short term rentals are bringing in a lot of travellers that support local businesses and that once they figure out how they can make money from it, the government will allow for short term rentals in these towns. I only comment about these towns because I live in it and would love to be able to invest more in short term rentals close to me.
I don't agree with the 7th prediction. If you think about it, bad property managers and hosts could "pay to play" but if the guest has a bad experience, they'd probably NOT return to the same booking platform. I.e. a bad property manager "pays" for the listing to show up in the first page. The property manager generates more bookings, but because this is a bad player (a bad property manager) the guest will have a negative experience; thus, the listing site would get a negative remark. The correct way to do it is exactly how Airbnb and Vrbo currently do, they promote "GOOD PROPERTY MANAGERS AND HOST." So, this is not a pay-to-play scenario, and guests have a good experience and will return to the booking site.
I do like your different perspective on the 7th prediction. You are right that if anyone can pay to be pushed on the top page, then it takes away that trust currency where it's all about how good you really are as a host vs how much money you have to promote...but I do see that if you're a superhost or a great host that wants an edge, there should be ways where if you're willing to spend a bit more, you can have an edge. It would be interesting to see how airbnb will handle this.
I work for a developer and I can confirm he is thinking about building a STR community. He’s also the type to give it to a property manager and not be bothered so that could be an interesting avenue in the future
What percentage of your time and energy go into your personal short term real estate business and what percentage time do you invest and spend time in other “asset classes”.
You’re very smart and knowledgeable. So much so that I can’t help but wonder who you are or trying to accomplish. Possibly your RUclips channel and advertising business and your personal short term rental just go hand in hand.
I would love to learn more from you, and maybe dive in to your understanding of what else you have discovered and what you predict. Cryptocurrency and NFTs are am interesting asset class. Billionaire And PhD from MIT Michael Saylor says it will be the greatest wealth transfer in the history of the world and will eventually eclipse the biggest asset class in the world real estate.
Also the factoring comment really made the wheels in my head move. Factoring is a space I have experience with. Mainly personal injury settlements factoring.
My problem is sometimes I worry too much on trying to choose the “right” investment for me personally, not just financially. I want to earn gobs of money, I just want to do it in something I am passionate about. And i am passionate about too many things and I worry I could “drown in opportunity “ as Mark Cuban says…
Ty I went to dynamite pricing and it is amazing.
🔥 I’m with you on this @dreamvacationhost! This was a great video!
P.S. If you have any other questions about starting & growing your Airbnb business lmk.
it's a pity ABB doesn't treat hosts like the valuable asset they are.
keep posting!! dont disappear
Last thing this country needs is more institutional investors taking housing inventory off the market and commoditizing it.
Couldn’t agree more. People like Richard who encourage it are evil.
Richard, Great insights! Thank you. On your 3rd item, you misspelled "enter." You spelled it "entre."
Hi Richard, thanks for the astute predictions.
The broadest vaguest predictions ever
Really cool predictions! I'm new to the STR space. I was in ecommerce for the past 10 years so this is really cool to be learning about. Hope we can connect sometime in the future to chat!
Yeah. I predict no going back on regulation. We had several Airbnb properties (no mortgages) in Chicago. Last summer changed the regulations so that you had to live in the unit listed for STR. We moved out of STR and into long lease or 30+ day rentals. Really not much of a change income wise for us since we had a management company and the 25% we paid them is about the amount we lost exiting Airbnb. People who don't have Airbnb properties just don't want Airbnb properties in their neighborhood. Also, we sold off 4 properties in the last years and will enter the market again once pricing stabilizes. We found that long term our ROI using that capital in stocks/bonds/investments is very close to the profit from STR but without any management (we have a financial advisor).
interesting feedback
So much so that I can’t help but wonder
People don’t have enough places to live. People don’t have enough long-term rentals. There’s a huge short of an inventory for people to buy houses to live in.
Thanks Richard for another insightful video. The Institutional money is definitely entering the space. We experienced this when our Real Estate Rental portfolio was purchased by a Florida Hedge fund and we 1031 (as you mentioned in the video) into our current STR.
BTW I tried to sign up for the waitlist for Cohort based training. Not sure if my submission went through. Thank You Jordon Olson
A generic hone in the suburbs should not be allowed to be a str
💡Great point Crystal! Would you mind sharing more?
@@ivantejeda many of the places that are bnbs are small carriage homes , basement suites or just smaller homes. These are starter homes for young people just moving out or going to college. Or nice places for retired people with lower incomes. We have taken them out of the rental market and displaced this demographic. We need to restrict STRs to vacation homes. Waterfront, mountain top etc. But a basement suite in suburbs should be a LTR.
Love the content!
I'm a superhost trying to step up my game
The "middle" is blowing UP here. I posted this on an Airbnb Facebook group: What has been your experience in building relationships or getting blowback from your local Lodging Associations and or Chamber of Commers? I ask because I have noticed a change in our community; The number of Airbnb listings in the last year going up, the price per night going down, and families who live here can't find a 2-3-bedroom home to rent because the cost is crazy high for crap rentals. The nice 2-3 bedroom homes are getting scooped up by big local landlords or out of state buyers. There is an Airbnb educator on RUclips that makes a prediction every year about the upcoming year as it relates to Short-term rentals. The “middle” that he speaks of is blowing up in my town. I have other research on sales tax, lodging tax, and our local TTBID boundaries that will be changing soon.
These Airbnb investors don’t give a crap about local people or if people have enough places to live. They are part of the problem
@@Starfish2145 I totally agree. The middle needs to crash so locals can rent homes affordably again.
@@Starfish2145 thank the government and their moratorium on most evictions. we are going away from rentals to short-term rentals only because of that. no one gives a crap about landlords and their bills, thousands of dollars to fix up properties after renters trash them.
I love ur prediction
Outstanding insights! You mention the "middle market", beyond what you said in the video, are there any other parameters to help characterize that market?
you lost me with "I've been saying it for years, but now it's time to take it serious"
I keep trying to join STR University on facebook. I keep getting a message back saying I haven't been on facebook long enough. I have been on facebook for 16 years.
Is there a resource available to show the legality of short term rentals by town or county?
what do you mean by resource? every town or county has their own bylaws that will state whether short term are legal. Now every town may also have a different definition of what is considered a short term like in toronto, short term is anything below 28 days.
@@mainguyenlim Short term in Long Beach California is anything less than 31 days. It differs in each municipality.
How about Portland Oregon? Is there any market whatsoever?
Hello, what is the best way to put 3d walkthrough on airbnb? Putting link is not avialable there
Thank you
Why is the rationale behind offering investment into Stomp Capital only to accredited investors?
Federal requirements. For clarification, accredited investors are those who have greater than $25k to invest with.
It's the law. But, we are working on something so, stay tuned.
@@truckinNloving my understanding is that an accredited investor has an annual income exceeding 200k or a net worth exceeding $1 million, not including primary residence
@@imrichardfertig Thank you
I am about to purchase for short term rentals, and was just talking about that middle market this morning! I get the treehouses, beach properties, etc. of the world. However I am not sure what differentiates you in a city. Does it have to have a pool? Can it just be well-designed? What elevates you from the "middle market"?
My Air BNB is five minutes from downtown but looks over a reserve and river - so looks like your in the country, peace and quiet.
I believe there are many ways to differentiate your property such as unique designs, elements that represent the local community, extras (welcome gift), unique customer experience, anything outside the box in the way you run it can make it different so the more creative you can be, the more ideas you'll have...however it also has to match the demand...so if there are a lot of families that tend to book in your area, making it extra family oriented with babies or children items, etc...can also attract. Those are just my thoughts.
Guess you didnt take into consideration the recession
I want to do the same 🤩
🔥 I’m with you on this Trinidad! This was a great video!
P.S. If you have any other questions about starting & growing your Airbnb business lmk.
What are your thoughts on a Deleware Statutory Trust for 1031 exchanges
So … why do I see so many empty Air BnBs in Colorado? Do you think that with the reduction in COVID that there won’t be as many traveling nurses? Who is renting these places?
Maybe people nervous about the fuel costs right now for travel. High gas costs makes everything else pricier. Possibly saving for summer?
This has been my problem lately as someone that likes to use Airbnb sometimes instead of hotels I skip so many because they look the same an the idea I have for a unit I HAVE NOT seen it yet and I’m so shocked I know my first unit will be booked constantly once it’s in motion
If you want to help average people, why are your investments only for Accredited Investors? Another person trying to help the Rich get Richer
Sponsored ads suck - who actually clicks on them? I know I don't
Glad you’re back Richard. We missed you!
Thanks! Busy investing!
major hotels already have a str offering such as Marriott villas but I agree they will move into the platform more
New
I think modern luxury apartments near major cities will still do well as work remote is here to stay.