55) Riches Are in the Niches & Airbnb Squatters

Real Estate Investing with House Money

House Money Weekly

In this week’s House Money Weekly segment, Lauren and Alan discuss blog 157 - Boost STR Returns with These Airbnb Alternatives. When it comes to Short-Term Rentals, it is hard to stand out especially if you're new to Airbnb because of the intense competition. The 1st alternative is Hopper which is ideal for last-minute bookings. If you need to purchase a plane ticket or visit a specific city on short notice, this app allows you to make bookings quickly. You can list your property on Hopper, making it available for immediate bookings when cancellations occur. Lauren notes that OwnerRez API integrates with Hopper. The 2nd alternative is Kid & Coe, catering specifically to family bookings. If your short-term rental is child-friendly and located near playgrounds, or equipped with amenities like trampolines or swimming pools, this platform is tailored for you. Lauren is concerned about maintaining kid-friendly items such as pack and plays, which may get misplaced or damaged. The 3rd alternative is Peerspace that focuses on booking spaces rather than overnight stays. If you have a large room suitable for corporate meetings, photoshoots, or workshops, you can list it here. As a property owner, you can also explore other listings on Peerspace for inspiration. Bookings on Peerspace can be hourly or half-day, offering an additional income stream between guest stays. The 4th alternative is Flok, which is designed for booking retreats. It caters to companies organizing business retreats or startups planning off-site meetings. Typical amenities include conference-size tables and spacious living areas equipped for presentations. Flok is popular among customers and small business owners looking for short-term rental options ranging from weekends to week-long stays. In conclusion, all 4 alternatives discussed have a niche and it exists because the riches are in the niches. So understand your short term rental niche and make sure it's being promoted!

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Real Estate Is Easy Segment

Lauren interviews Matthew Teifke. He's been in the real estate business for 13 years and he started in college. When he was in first year, he got rookie of the year as an agent and ended up getting his master's degree of commercial real estate from Texas A&M University. He is currently a 50/50 partner on about $70 million worth of real estate and he owns a brokerage out of Austin, Texas, and they have about 130 real estate agents. Matthew shares how he saw his mother who worked, cleaned houses and saved up to buy rental properties and that inspires him. One of Matthew's mom's strategies is to buy and rent a property and have it paid off and that will be her retirement and for Matthew, his strategy was starting as an agent and he just wanted to learn as much as he could. Matthew also shares his own definition of Commercial Real Estate and that is RV parks, retail buildings like shopping centers, apartments and basically anything outside a single family. Lauren and Matthew also talk about retail spaces and Matthew feels like it's overlooked right now and there's less people actively trying to buy those deals. For Matthew, he believes that the opportunities are bigger in retail real estate and also RV parks. Matthew noticed that a lot of single-family investors want to scale up over time and get into multifamily but they don't think about retail or RV parks. Matthew is a big believer that real estate is a team sport and getting the right team in place can make retail exciting. Lauren thinks that being a solo operator feels safer than doing partnerships because when you are in a partnership, a lot of things can potentially go wrong in terms of relationship and contract disputes. Matthew says there’s actually less risk in partnerships, as long as it’s the right people. And lastly, Matthew makes real estate easy by having your team.

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Third Segment

Alan wanted to talk more about short-term rentals with Lauren with the Entrepreneur piece by Dan Latu with the headline, “Airbnb host battles nightmare guest squatters who refuse to leave after 8 months and they say they're legal residents.” Stories involving squatters have become prevalent in the real estate sphere, motivating Alan to discuss potential red flags highlighted in the article with Lauren. One significant red flag mentioned in the piece was when the guests initially booked a rental for two guests from October 25th to May 24th. The situation took a concerning turn when the woman requested to continue their communication off the Airbnb platform and exclusively through cell phone. Upon moving in, she insisted on making payments solely in cash instead of using Airbnb's payment system. Lauren recognized several alarming aspects in the story. Another red flag is that the guests were consistently late with their payments almost every month because the credit card linked to their Airbnb account frequently bounced. The next red flag is when the guests did not check out as scheduled. The Airbnb host accommodated their request to extend their stay for the weekend. Subsequently, the guests posted a notice on the door asserting their status as legal residents of the home. They warned that they would pursue legal action against anyone approaching the property and declared their intention to remain until formally evicted. This situation persisted for a total of eight months. Lauren shares her own story of when an Airbnb guest attempted to squat in one of her properties. Alan provides some insights on evictions in Georgia.

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