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Don't Even Ask For The Seller's Rent Roll

Don't Even Ask For The Seller's Rent Roll

FromSTRonomics


Don't Even Ask For The Seller's Rent Roll

FromSTRonomics

ratings:
Length:
19 minutes
Released:
Sep 14, 2023
Format:
Podcast episode

Description

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries.
Welcome to another episode of STRonomics! In this episode, hosts Bill and Kenny discuss why relying solely on rent rolls when purchasing an investment property is a mistake.
They point out that it's common for properties to be marketed based on a specific rent roll history, but the real potential often lies in property improvements. However, location is absolutely crucial, and they emphasize the importance of Location, Proximity, and Views.
Kenny shares his negotiation strategy of using rent rolls to challenge numbers and potentially negotiate a lower price or walk away from a property. Bill talks about switching agents if they push rent rolls too hard, as it may indicate inexperience in the short-term rental (STR) market.
They stress that property owners often sell "desirable" properties when they're not making money and can't show a clear revenue proforma.
Bill and Kenny advise against buying based on potential and suggest evaluating offers based on projected revenue from comparable properties in the area.
They reveal a savvy investor tactic: requesting sellers' tax returns to get a more accurate financial picture and verify if tax and rent roll figures align.

[00:03] Intro to STRonomics
[00:07] Rent Rolling
[02:22] Right Location
[05:00] Negotiations & Proformas
[06:57] Off Platform
[08:42] Kenny’s Reel
[11:08] Not Making Money
[13:02] Penciling It Out
[14:17] Paying Taxes
[15:31] Gulf Shores
[16:39] Wrapping Up

We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/
Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA
STR Data Hosts Facebook Page
Instagram: Kenny_Bedwell
You can find more of Bill online at:
Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share&ltsid=660cbc9b-4a7e-4ed9-a654-900180b83af1
Build STR Wealth: https://buildstrwealth.com/
Instagram: @BillFaeth73
Tik Tok: @bfaeth
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Released:
Sep 14, 2023
Format:
Podcast episode

Titles in the series (88)

Increasing regulation, market saturation, and rising interest rates... Still think short term rentals make sense? You're not alone. Join industry experts Bill Faeth, successful STR host and investor, and Kenny Bedwell, founder of STR Insights and data junky, as they discuss how you can invest in this lucrative industry while still staying ahead of the curve, identifying trends before they happen - or blowing them outright with their own insights! The short term rental industry is booming and there are many benefits to investing in this type of property. Whether you’re a first-time investor or looking for your next investment, we have insights that will help guide the way forward!