6 Mistakes That Will RUIN Your Short-Term Rental Investment |
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Short-term rental investing is cool. You get to buy a house, dress it up to fit your area’s vibe, and hopefully take home some sweet profits. But, it’s easy to trip up and make simple mistakes that could not only ruin your short-term rental investment but your sanity as well. Take it from veteran vacation rental host Rob “Robuilt” Abasolo. He’s been hosting for years and has already made the rookie mistakes, so you don’t have to.
These six mistakes specifically are some of the most common Rob sees new hosts make. Whether it’s giving a random discount, failing to automate your messaging, or deciding to go for the fifty-dollar couch (don’t do this), small mistakes like this can sink your ship quickly and your profits with it. So what should you do to avoid these mistakes? What do brand new short-term rental hosts overlook on their first investments? And why was there a self-made man-hunt in one of Rob’s properties? Today, we’ll find out. For all you short-term or medium-term rental hosts out there, what are the rookie mistakes you made? What caused a guest to complain and what would you have done to prevent the situation? Let us know in the comments below! 00:00 Six BIG Short-Term Rental Mistakes 00:35 1. Panicking Too Soon 02:19 2. Not Automating Self-Management 03:33 3. Automating TOO Soon 04:47 4. Not Asking for 5-Stars 06:27 5. Giving Discounts 08:24 6. Cheaping Out on Furniture ~~~~ Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media ~~~~ Find an Investor-Friendly Agent in Your Area: https://www.biggerpockets.com/agent/match?utm_source=owned_media ~~~~ Tune into The “BiggerPockets Real Estate Podcast”: https://www.biggerpockets.com/podcasts/real-estate?utm_source=owned_media ~~~~ 3 Mistakes to Avoid As An Airbnb Host: https://www.biggerpockets.com/blog/mistakes-to-avoid-as-an-airbnb-host?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ 13 Mistakes New Vacation Rental Owners Always Make: https://www.biggerpockets.com/blog/2013-11-18-vacation-rental-owners-mistakes?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Rob’s Video on Self-Management: https://youtu.be/yImPrb-M1KE ~~~~ Connect with Rob (Robuilt) on BiggerPockets, YouTube, Instagram, TikTok, and Twitter: BiggerPockets: https://www.biggerpockets.com/users/robuilt?utm_source=youtube&utm_medium=description&utm_campaign=none YouTube: https://www.youtube.com/c/Robuilt Instagram: https://www.instagram.com/robuilt/ TikTok: https://www.tiktok.com/@robuilto Twitter: https://www.twitter.com/robuiltchannel #biggerpockets #robuilt |