Best Places to Invest in 2024 With Scott Sage

In this episode, Jamie Lane, Chief Economist at AirDNA, welcomes Scott Sage, the new co-host for the podcast, as they discuss AirDNA’s latest report for the “Best Places To Invest For 2024”.

We dive into Scott's background at AirDNA and his experience in the short-term rental industry, setting the stage for the discussion on these investment opportunities. Scott shares his journey from being an AirDNA customer to leading the marketing and customer experience team. He emphasizes the importance of understanding individual investment criteria and shares his own framework based on affordability, traveler demand, and regulation risk. They touch on the methodology behind the report, sharing insights on various components such as rental demand, revenue growth, investability, and regulation.

This year’s report suggests a potential stabilization of the short term rental market in 2024, following declines in revenues and occupancies over the past years. Jamie and Scott analyze the macro landscape for 2024, exploring housing market trends, interest rates, and short-term rental investment projections. They touch on the challenges faced by the industry in recent years and express optimism about the potential turning point in 2024. The episode also introduces a tool that caters to personalized investment strategies inside the AirDNA App.

Tune in for valuable insights into the evolving landscape of short-term rental investments!

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Best Places To Invest In For 2024

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Signup for AirDNA for FREE👇

https://app.airdna.co/data

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Connect with Jamie on LinkedIn and Twitter:

LinkedIn: https://www.linkedin.com/in/jamiehlane/

Twitter: https://twitter.com/Jamie_Lane

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Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:

LinkedIn: https://www.linkedin.com/company/airdna/

Twitter: https://twitter.com/airdna

TikTok: https://www.tiktok.com/@airdna.co

Instagram: https://instagram.com/airdna.co

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https://www.airdna.co/events-airdna

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Up Next:

Leveraging Investment Banking Expertise for STR Growth with Michael Chang

In this episode, Jamie Lane, Chief Economist at AirDNA, is joined by Michael Chang, the podcast host of 'STR Like the Best' and co-founder of Trust B&B Vacation Rentals. They delve into Michael’s journey from being an investment banker to establishing a durable business model in the short-term rental industry.

Starting with a single unit in New York, Michael's shift to short-term rentals was driven by his desire to balance building a family with his career. Michael and his wife embarked on their STR management journey by utilizing his background in investment banking and leveraging data from AirDNA, steadily scaling their business. Michael stresses the importance of fostering strong relationships with operational partners. He encourages hosts to view them as vital allies in achieving excellence across various markets. Empowering local cleaning and customer service teams has been crucial in sustaining high operational standards.

The conversation highlights the importance of data-driven decision-making in selecting markets and optimizing property performance. Michael emphasizes the need to comprehend key metrics such as revenue, average daily rate (ADR), and occupancy, focusing on profitability and operational efficiency. His strategy, which prioritizes sustainable growth over rapid expansion, centers around market-oriented operations and informed decision-making.

Michael highlights the importance of closely following regulations, building strong teams, and valuing operational efficiency. He emphasizes a focus on downside risk and capitalizing on opportunities like rental arbitrage in urban markets. The conversation also touches upon the role of technology and predictive analysis in maximizing potential earnings.

You don’t want to miss this episode!

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Signup for AirDNA for FREE👇

https://app.airdna.co/data

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Connect with Jamie on LinkedIn and Twitter:

LinkedIn: https://www.linkedin.com/in/jamiehlane/

Twitter: https://twitter.com/Jamie_Lane

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Connect with Michael Chang:

Linkedin: https://www.linkedin.com/in/michaelhchang/

https://www.trustbnbcapital.com/

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