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Business PlansPredicting the Best and Worst STR Markets with Scott Sage
In this episode of the STR Data Lab, hosts Jamie Lane and Scott Sage explore the future of short-term rental markets over the next five years. The discussion kicks off with insights into recent vacation rental demand, notably influenced by population shifts during the COVID-19 pandemic. They delve into their predictive methodology, emphasizing factors like population growth, employment, and feeder cities.
Jamie explains the concept of feeder cities and their significance in anticipating rental demand. They use historical data and projections from sources like the U.S. Census and Oxford Economics. The episode reveals top markets like Corpus Christi and Galveston, and identifies weaker prospects in Wisconsin and California. The hosts also highlight the importance of yield in investment decisions, giving examples such as the North Georgia mountains. The conversation concludes with a teaser on upcoming reports and webinars detailing their economic outlook and short-term rental performance.
Scott and Jamie emphasize the importance of taking a comprehensive view of market conditions and avoiding over-reliance on single factors. They suggest practical applications for existing hosts, including targeted marketing and seasonal planning. Insights into migration trends and their long-term impact on the STR market are discussed in detail. There's a focus on how economic conditions in feeder cities like Houston and Dallas influence surrounding vacation areas. The episode ends with encouragement for listeners to consult the detailed report for further information.
You don’t want to miss this episode!
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https://www.airdna.co/blog/best-vacation-rental-markets-in-the-next-5-years\
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Signup for AirDNA for FREE👇
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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 Scott on LinkedIn:
LinkedIn: https://www.linkedin.com/in/sagescott
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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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Find AirDNA at these upcoming events!
Up Next:
Leveraging Data for Short-Term Rental Success with Dr. Rachel Gainsbrugh
In this episode of the STR Data Lab, host Jamie Lane sits down with Dr. Rachel Gainsbrugh, CEO of Short Term Gems, to explore insights into short-term rental data and trends. Rachel shares her journey from being a pharmacist to becoming a thriving short-term rental operator. She recounts how the Bigger Pockets community and Warren Buffett’s advice to "make money while you sleep" sparked her interest in real estate investment.
Rachel highlights the critical factors like debt-to-income ratio and lending products that influence portfolio construction. She emphasizes the importance of communication, convenience, and connection in maintaining luxury and customer satisfaction in short-term rentals.
Jamie and Rachel explore the significance of automated communication and leveraging midterm rental markets, particularly insurance policyholders and media crews. Rachel offers tips on how to make properties more attractive for midterm guests by focusing on quality amenities and being pet-friendly.
Rachel stresses using tools like AirDNA to make informed decisions and encourages listeners to take proactive steps in their own real estate journeys. The episode concludes with Rachel advocating for the powerful impact of short-term rental investments, sharing resources for aspiring investors. Dr. Rachel’s story is an affirmation that with informed strategy and a passion for serving guests, anyone can create a successful and meaningful short-term rental business.
You don’t want to miss this episode!
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www.instagram.com/short.term.gems
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Signup for AirDNA for FREE👇
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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 Scott on LinkedIn:
LinkedIn: https://www.linkedin.com/in/sagescott
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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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Find AirDNA at these upcoming events!